Fleet Space Technology, which has a string of lithium miners and explorers using its nano-satellite systems to look for deposits on Earth, has won its first defence industry contract.
Co-founder Matt Pearson says Fleet has brought a lot of its manufacturing of components in-house by investing in 3D printers, and this has counter-acted inflationary pressures.
An antenna used in one of the small satellites had previously cost $10,000 and was imported from Switzerland. Fleet is now producing it for about $100.
Fleet Space Technology, a mini-satellites company that has just won its first defence industry contract, has stomped on the high inflation which has been a scourge across dozens of industries.
The space company, which uses nano-satellite systems in space to help lithium and rare earth mineral companies speed up exploration for new deposits, has secured its new $6.4 million contract with Australia’s Defence Space Command agency. Defence Space Command was set up 14 months ago.
Loading...
Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
