Spookfish up on military deal
Shares in aerial imaging and mapping company Spookfish rose after it signed an evaluation agreement with an unnamed Australian military contractor.
Under the terms of the agreement, the contractor will review the capabilities of Spookfish’s technology and evaluate the merits of entering into a commercial agreement.
Spookfish said it had also received interest from other military contractors and service providers and recently entered into a non-disclosure agreement with a major US military contractor to enable its space and airborne systems division to review the capabilities and applications of the Spookfish technology.
The company offers wide-area capture and rapid processing of high-resolution 3D imagery.
Spookfish executive chairman Jason Marinko said the company had always anticipated its technology would attract attention from the defence sector.
“This presents an enormous opportunity for the company, both domestically and internationally, and we look forward to working with these military contractors to review and evaluate our technology,” he said.
Spookfish shares were up 0.6 cents, or 10.53 per cent, to 6.3 cents at 11.55am.
