Addvalue Technologies secures $2.85m in new space orders

The group’s order book now stands at

Addvalue Technologies Ltd has secured new orders worth approximately $2.85m (US$2.2m) through its Space Connectivity (SPC) business.

The contracts involve supplying multiple Inter-Satellite Data Relay System (IDRS) terminals to three major space technology companies from the US, Europe, and Japan. Two of the clients are new to Addvalue’s customer base.

Due to confidentiality agreements, the company said it cannot disclose further details about the orders or the clients involved.

With these new orders, Addvalue’s order book now stands at $24.1m ($18.6m).

The company expects to deliver part of the new orders within the next 12 months. These contracts are expected to have a positive impact on the current financial year.

No director or substantial shareholder of Addvalue has any interest in these orders, apart from their shareholdings.