Ballistic armour manufacturer Xtek has secured loan funding to allow the expansion of its ballistic helmet manufacturing facility in Adelaide.
The company secured a $2.5 million loan from the Commonwealth Bank which will be used to install commercial scale preform presses needed before the company’s proprietary XTclave composite materials curing and consolidation process.
The process creates composite helmets capable of stopping an AK-47 bullet at short range.
Automated 3D cutting and painting capabilities are also being installed with the new equipment coming online in the 2021 financial year.
Xtek managing director Phillippe Odouard said the new funding allowed the company to optimise its capital structure while funding expansion.
Odouard said: “This upgrade enhances our helmet manufacturing capabilities and ensures Xtek is well positioned to deliver on large quantities of our rifle ballistic helmets into the world’s biggest markets.
“This helmet uniquely protects against AK47 rounds using an ultra-light polyethylene material.”
Odouard said the company had made significant progress in discussions with potential international customers and hoped to finalise its first overseas order in the near term..
“We look forward to accelerating our commercialisation strategy and further showcasing our advanced manufacturing capability.”
Xtek received a $830,000 Sovereign Industrial Capability Priority (SICP) grant to support its ballistic helmet manufacturing.
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