This contract builds on the previous work that the company has undertaken with the MoD, in line with SPI’s policy of developing its technology platform across multiple markets. The first phase of the project begins at the end of 2007 and is expected to generate approximately £1m in its first 18 months.
This contract forms part of an award to a larger consortium formed by the MoD aimed at making the technology easier to exploit in the long term.
SPI has also allocated additional resources in support of a large US based bid.
David Parker, Chief Executive of SPI Lasers said: ‘In the first half of 2007 we achieved substantial growth in our products with good progress being made in micro, marking and medical sectors. Today’s announcement of the MoD contract win will, when leveraged, enhance our competitiveness in these sectors and contribute towards the development of higher power lasers for sectors such as macros in later years.’