Satellite communications innovator Filtronic struck a multimillion-dollar partnership with Elon Musk's rocket company SpaceX.
The Sedgefield and Leeds-based telecoms firm has landed an initial £15.8m ($19.7m) deal to supply the Californian spacecraft maker that is part of a wider agreement worth at least £48m ($60m) that could eventually see SpaceX subscribe to 10% of Filtronic's shares. It means the Northern firm's solid state power amplifiers (SSPA) and other technology will be used within SpaceX's Starlink constellation of low Earth orbit satellites which are used to deliver broadband internet around the world.
The first order of Filtronic's E-band SSPA modules, which convert low power radio frequency into a higher power one, is due to be delivered to SpaceX in 2025, with further shipments expected to follow. As part of the deal, Filtronic is issuing 21,712,109 warrants that will allow SpaceX to acquire up to 10% of the firm's existing share capital once £48m of orders have been placed by Mr Musk's firm.
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Richard Gibbs, chief executive officer of Filtronic, said: "The team at Filtronic are excited to formalise and develop our existing relationship with SpaceX and secure the ongoing supply of E-band SSPAs. We also look forward to working alongside the SpaceX engineering team to develop new products for use in the Starlink system."
North East renewable energy specialist 0800 Repair has expanded its footprint across the country after striking up a strategic partnership with a Hertfordshire firm.
The heating, insulation and renewables business, based in Houghton-le-Spring, has joined forces with Potters Bar-based TSG Building Services PLC – combining the skills and resources of two companies with collective turnover of over £100m. The pair, which collectively have more than 500 staff, said the partnership marks a significant enhancement in the footprint for both businesses, strengthening their positions in key markets including energy efficiency schemes and social housing.
The collaboration has been made to amalgamate the expertise and skills of both firms to support an expanded portfolio of businesses and sectors within their regions, while also extending the companies’ operational reach from Scotland to the south coast of England.
Phil Pallister, CEO at 0800 Repair, said: “By combining our skills and resources, we aim to expand our reach, offer new services, and provide even greater value to our customers. This partnership marks a significant milestone for both companies, and we look forward to the opportunities it will bring as we continue to grow and innovate in our respective field.”
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Detection technology company Kromek announced a $2.9m (£2.3m) order from a US federal body for nuclear security products. The County Durham firm, which specialises in radiation and bio-detection technology solutions, says the order has come from an existing company for some of its wearable radiation detectors. The order consists of a £358,000 (£287,000) contract for immediate delivery, followed by a further $2.5m (£2m) of revenue over the next two years.
CEO Arnab Basu said: “We are pleased to have received this new contract, which reflects the strength of our longstanding business relationships and the quality of our nuclear security offering. We are continuing to experience excellent momentum in CBRN Detection as the threats to public security persist across the globe.
“We believe our products provide-in-class capability to manage these threats and, consequently, we expect to receive further nuclear security orders in the near term.”
The mining giant behind a multibillion-pound fertiliser project in North Yorkshire and Teesside is the subject of £31.1bn takeover approach from global rival BHP Billiton. Anglo American is building out the emerging Woodsmith Mine scheme that aims to take natural mineral fertiliser from underneath the North York Moors National Park before transporting it via an underground conveyor system to Redcar where it will be exported to global markets. The 海角视频-based firm confirmed to shareholders on the London Stock Exchange that it had received the unsolicited and "highly conditional" proposal from Australia's BHP, the world's largest mining company.
Shares in Anglo American soared on news of the potential deal - which would be one of the sector's largest - in which BHP said it would offer £25.08 a share, including £4.86 a share in Anglo Platinum stock and £3.40 in Kumba Iron Ore company shares. The terms are now being reviewed by Anglo's board and its rivals.
If it went ahead, the move would create world's biggest copper miner, with around 10% of global output. Copper is experiencing high global demand amid the energy transition given its use in renewable energy projects and electric vehicles.