XTEK Limited (ASX:XTE "XTEK") has signed a A$830k grant agreement from the Centre for Defence Industry Capability (CDIC) for a Sovereign Industrial Capability Priority (SICP) grant, on behalf of the Department of Defence.
What are the key highlights?
- XTEK will utilise funds from the SICP grant for the industrialisation of its advanced ballistic combat helmet production line.
- The SICP Grant represents recognition from the Department of Defence of the unique capabilities of XTEK’s helmets and supports XTEK’s strategy to bring these products to market, and accelerate exports to key US markets.
- It complements a previous SICP grant of A$1m to establish the ballistic armour manufacturing centre in Adelaide, which provides a ommercial manufacturing capability for XTEK’s proprietary XTclave™ manufactured products.