Xtek awarded $1 million defence industry capability grant

Canberra-based Xtek (ASX: XTE) has earned a $1 million Sovereign Industry Capability Priority grant, which will assist the company in establishing a composites manufacturing facility for its combat armour products.

The $1 million grant would be used to assist completion of a production facility for Xtek’s “XTclave” composite curing method. It follows contracts with the US Department of Defense, foreign customers, and an MoU with Skykraft to develop small spacecraft and space launcher systems., and was described as further validation of the company’s “unique global capabilities” in ballistic armour technology.
“Key project activities include planning, design and build for the XTclave production plant and line integration,” the company said in a statement to the ASX.
“Xtek intends to continue investing further to build its manufacturing capability, skills and expertise in the coming years as operations increase in scale.”
Commercial-scale production capability would be achieved by the end of the year, it said.
SICP grants are delivered through the Centre for Defence Industry Capability on behalf of the Department of Defence. Announced in November last year, Their purpose is to foster a base of SME defence suppliers. Grants range from $50,000 to $1 million, and funds are matched 50:50 by participants’ investment.
Picture: https://www.xtek.net/technology/xtclave
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