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.