Filtronic, the electronics manufacturer, has struck a multimillion-pound deal with Elon Musk’s space exploration company SpaceX.
The American billionaire’s firm has agreed to £15.8 million in satellite part purchases from the Leeds-based business. The deal also includes a five-year partnership that allows SpaceX to take up to a 10 per cent stake in Filtronic’s shares once it places about £48 million in orders.
Shares in Aim-listed Filtronic jumped 50 per cent to a decade-high on the news.
“Filtronic has been an outstanding supplier,” said Mike Nicolls, vice-president of engineering at Starlink, which is SpaceX’s satellite project. “Their strong engineering teams have taken ownership of their production process to meet our needs.”
The British company, which provides technology to the aerospace, defence, space and telecom infrastructure
