Micro-X Ltd (ASX:MX1) Secures $6.0M Contract Extension with US DHS
Contract Extension
Micro-X Ltd’s subsidiary, Micro-X, Inc., has secured a $6.0m contract extension with the US Department of Homeland Security (DHS). This extension is part of a larger contract valued at up to US$14.1m, following the company’s achievement of pre-agreed milestones under the initial US$5.6m commitment.
Future Development
The $6.0m extension funds the creation of two additional self-screening checkpoints and testing of three checkpoint units over the next 16 months. A potential second extension of $7.5m could further develop a six-station lane and airport testing with travelling passengers.
Executive Comments
CEO Americas and Chief Scientist Brian Gonzales commented, “Our work to develop the next generation of airport security checkpoints continues on track. This funding commitment will enable the manufacture of two additional self-screening checkpoints and testing of our checkpoint units, bringing us one step closer to airport testing with travelling passengers.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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