Solid State PLC (AIM:SOLI) shares traded on the front foot in Monday morning’s deals after reporting $5.1 million of new business in the United States.
Its American subsidiary, Custom Power USA, landed the contracts from two defence prime contractors.
They will see the supply of battery packs for use in maritime and aerial technologies, both of which operate in harsh environments. Deliveries are slated to start early 2025 and will be completed by the end of the year.
Both projects may extend into multi-year agreements, Solid State noted.
"Whilst diverse in operating environments, these two contracts respectively required solutions that optimised size, weight and power for operation in harsh environments, which are key strengths for Custom Power,” subsidiary managing director Matthew Richards said in a statement.
"We are delighted that in both instances, existing customers, who are leaders in their respective markets, selected our Fountain Valley California facility as their business partner for such prestigious programmes that have the potential to run for several years."
The company meanwhile noted that it is scheduled in November to give investors its trading update for the half-year ended 30 September.
In London, Solid State shares strengthened 14p or 5.6% to 264p each – valuing the AIM-listed company at around £148 million.