Addvalue Technologies A31 has secured orders totalling US$2.2 million ($3.0 million) for its space connectivity (SPC) and advanced digital radio (ADR) related businesses.
The total order amount comprises US$1.5 million from a new customer and three of Addvalues existing IDRS customers for the supply of Inter-Satellite Data Relay System (IDRS) terminals, as well as US$0.7 million for the supply of its proprietary ADRS1000 modules from a new customer and an existing ADR customer.
Addvalue says the orders add credence to its strategic focus on its SPC and ADR-related businesses as two key revenue drivers for growth.
With the new orders, the company’s order book now stands at US$14.6 million.
Addvalue expects its order book to be “substantially fulfilled” in the current financial year ending March 31 next year and to have a positive effect on the group’s financial performance for the FY2024.
Shares in Addvalue closed flat at 1 cent on Nov 24.
