Rakon gets lift-off with new $17m space contract

Rakon gets lift-off with new $17m space contract
Rakon parts were onboard when the European Space Agency’s mission to observe Jupiter and its moons for signs of life launched in April. (Image: ESA/M. Pédoussaut)
Rebecca Stevenson
Listed advanced manufacturer Rakon has snagged a $17 million satellite parts supply contract.The New Zealand Exchange-listed (NZX) company said on Wednesday the three-year contract would supply its products to a global leader in communications satellites for a new Low Earth Orbit (LEO) satellite constellation. The new deal was its largest space contract win and would earn it $3m in revenue in 2025, Rakon said.After the announcement, Rakon shares were up 8.14% to 93 cents.Rakon makes frequency control products and timing solutions for...

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