Orbital Corporation (ASX:OEC) remains on target to successfully conclude negotiations for a commercial contract with Boeing (NYSE:BA) subsidiary Insitu in relation to the supply of Unmanned Aerial Vehicle (UAV) engine and propulsion systems for the ScanEagle UAV.
The contract is expected to underwrite a decision to establish full-scale production facilities in the U.S. to deliver on Insitu’s requirements and allow Orbital to expand into further UAV engine development and manufacture.
Its REMSAFE business continues to grow with new orders, new pathways to market created with industry alliances, and initial work completed on expansions into new regions and new industry product applications.
The REMSAFE system quickly and safely de-energises and isolates bulk handling plant and equipment from all motive energy sources, replacing a time-consuming, expensive, and potentially hazardous manual processes with a fast, affordable and safe system.
Orbital is also exploring opportunities to unlock the value represented by its 30% interest in Synerject, the world’s largest independent supplier of non-automotive engine management systems.
Synerject's main expertise is in gasoline fuel injection system design, components manufacturing and system integration.
It has delivered considerable revenue and profits to Orbital and represents a successful commercialisation of the company’s intellectual property.
Separately, the company has decided to sell its liquefied petroleum gas business to focus on investing and building high value growth business opportunities.
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