Xtek Ltd - XTEK (ASX:XTE) signs MOU with  Space Tech Company MECANO ID
Xtek Ltd (ASX:XTE)

XTEK (ASX:XTE) signs MOU with Space Tech Company MECANO ID

Published May 21, 2021

What happened?

What has happened?

XTEK (ASX:XTE) announced that they have signed a Memorandum of Understanding (MOU) with leading French space technology company MECANO ID to accelerate their move of becoming an advanced composite product supplier in the booming space sector. The MOU could see XTEK work in conjunction with MECANO ID by supplying them with their XTclave™ technology.

What are the key highlights?

  • XTEK reported that they have signed an MOU with MECANO ID, a French space technology company.
  • MECANO ID is an established French space system supplier accredited in Europe and proven supplier to ESA, CNES and NASA programs.
  • XTEK is developing a sovereign space system design, qualification, and manufacturing capabilities within Australia.
  • The Company’s novel processing technology (XTclave™) will be coupled with MECANO ID’s proven experience in space system development and qualification.
  • XTEK and MECANO ID to work in partnership to pursue international and Australian space market opportunities.

Analysts thoughts

SmallCapInsider from Mawson Graham provides perspective on this recent announcement.
Written by SmallCapInsider
Published May 21, 2021

The MOU signing between XTEK and MECANO ID further reiterates the Company’s vision of becoming a significant player in the booming global space technology market. The agreement could see XTEK providing MECANO ID with their proprietary XTclave™ technology. XTclave™ technology is particularly suitable for space applications as its ultra-high consolidation pressures manufactures lighter, stronger, more complicated composite geometries when compared with conventional processing methods.

MECANO ID is a French space company based in Toulouse, with about 10M$ of turnover and over 26 years of experience, mainly dedicated to spacecraft structures engineering, manufacturing and testing. The French Company is an accredited space systems provider (ISO 9001, EN 9100) mainly dedicated to spacecraft structures and is recognised by the French Space Agency CNES as industry leaders in the development of advanced mechanical and thermal systems for spacecraft and space payloads.

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