Electro Optic Systems Holdings Limited announced the acquisition of significant contracts aimed at diversifying its revenue streams.
The recent contracts, totalling $24 million, mark a strategic move for EOS in expanding its market reach and strengthening its position in various sectors, the company said in a media release.
Under its subsidiary, EM Solutions, the ASX-listed company said it has clinched orders amounting to $19 million.
Among the key highlights are follow-on orders from a European NATO Navy, securing an additional 6 King Cobra satellite communication terminals valued at $10 million.
Additionally, EM Solutions has received orders worth $5 million for ground radar modules from a prominent mining sector customer, GroundProbe.
Furthermore, an initial order of 4 Cobra terminals from a new East Asian Navy customer, valued at $4 million, underscores the company’s commitment to expanding its international footprint.
According to EOS, these contracts are anticipated to fuel the continued expansion of EM Solutions throughout 2024 and beyond, providing a robust foundation for sustained growth.
Meanwhile, EOS Space Technologies has secured a separate $5 million contract with the ADF Joint Capabilities Division in Australia.
The contract is earmarked for the further development of space capabilities.
The project is slated for completion within the calendar year of 2024.
