ZZ25024 Filtronic and SpaceX V01 270825

Filtronic lands £50m deal with SpaceX Anna Dowell A British radio transmitter company has landed a near £50 million contract with Elon Musk’s SpaceX to support its Starlink internet service. Filtronic, which makes radio frequency transmitters and receivers, said it was the first order for its new radio frequency technology, which claims to offer improved efficiency, more power and better temperature control, and its largest order from SpaceX to date. The ground-breaking technology will be used in the Starlink constellation, which is a network of more than 6,750 satellites orbiting the Earth, more than 300 miles away. The satellites provide Starlink users in remote locations or without internet infrastructure with a swift internet connection. It has been used to give internet access to Ukraine’s troops despite damage to the country’s infrastructure. Filtronic, based in Sedgefield, Co Durham, said it expected revenue to rise next year when it starts to ship the products, as well as in later years. Since collaborating with Space X last year, Filtronic has more than doubled its revenue to £56 million in the financial year to the end of May and pre-tax profit almost quadrupled to £13.4 million. The company’s shares rose 50 per cent in April last year when it signed a partnership with SpaceX, giving Musk’s company the option to take up to 10 per cent of its shares. SpaceX ordered £15.8 million worth of solid state amplifiers for radio frequency and committed itself to orders for the next five years. Filtronic plans to move into a new factory in Sedgefield next year, doubling its UK manufacturing capacity, alongside another site in the US. In the past year it has doubled its engineering and project management staff. Nat Edington, Filtronic chief executive, said: “Securing this record contract with SpaceX marks a significant milestone for Filtronic. It validates the strength of our engineering capability. “This achievement would not have been possible without the expertise and dedication of both the Filtronic and SpaceX teams, and we are proud to play a role in advancing connectivity for the Starlink constellation and the wider LEO [low Earth orbit] ecosystem.” Filtronic also supports satellites for Airbus, the European plane manufacturer, and works with the British arms companies BAE Systems and Qinetiq. It was founded in 1977 by Professor David Rhodes at Leeds University and specialised in components for the defence industry. It designs communication networks for the aerospace, defence, telecoms infrastructure and low Earth orbit space markets. The shares closed up 5p, or 3.7 percent, at 140p, valuing it at £314 million. £56m Filtronic revenue in the financial year to the end of May.