ASX Tech Stocks: Electro Optic Systems (ASX:EOS) up 4.81pc with cool laser technology that can break up space debris
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Defence and space technology company Electro Optic Systems (ASX:EOS) leads the ASX tech sector today, after rising 4.81% off the back of its June quarterly.
The company’s space systems division demonstrated a major breakthrough in laser technology which significantly advances the global effort to mitigate space debris.
It’s no sharks with lasers, but it’s pretty cool.
Basically, it uses a guide star laser to allow high speed adaptive optics to form laser beams that can track and move space debris at lower altitudes and faster speeds than previously possible.
The IP was developed in collaboration with the Space Environment Research Centre (SERC), and will now be commercialised (and owned by EOS), with applications including space debris mitigation and high-bandwidth satellite communications.
Plus the space systems team were winners for the second year in a row for the group award Space Business of the Year (Large) in the 2021 Space Connect, Australian Space Awards held on 4 June 2021.
And the company’s defence systems division received a tidy $30 million payment from a customer on a major overseas contract, and signed a cooperation agreement with German-based Diehl Defence focusing on advanced stabilised and remotely operated weapon systems (RWS) for the European and NATO markets.
Oh and the company advanced its SpaceLink ‘communications superhighway for the new space economy’ and is in the process of selecting a satellite manufacturer for building the first constellation of four satellites – and expects to award a contract in Q3.
Weebit Nano (ASX:WBT) +4.61%
A close runner up today was Weebit Nano, up 4.61% off the back of its quarterly which highlighted the company – along with partner Leti – created the industry’s first commercial integration of an oxide-based ReRAM (OxRAM) cell with an ovonic threshold switching (OTS) selector.
It’s a critical milestone in Weebit’s development of a ReRAM technology for the discrete memory market.
And post quarter end the company completed the design and verification stages of its embedded ReRAM memory module and taped-out (released to manufacturing) a test chip that integrates this module.
The test chip will be used as the final platform for testing and qualification, ahead of customer production.
Up a tiny 0.35% was Anteris, who announced its 3D single-piece Transcatheter Heart Valve DurAVRTM THV had won an innovation award at this years Transcatheter Valve Therapies (TVT) Structural Heart Summit.
“The DurAVRTM THV System unlocks the clinical and anatomical challenges that patients are still burdened with in today’s commercially available TAVR devices,” Anteris CEO Wayne Paterson said.
“DurAVRTM is the beginning of a new era in the next generation of TAVR devices that will last the life of a patient – a critical need in these younger and more active patients.
“Having DurAVRTM recognized at this very important meeting is a clear demonstration of support for our potential within the structural heart faculty.”
Down 2% was SKS Technologies – despite announcing a positive cash performance for the June quarter of $0.74 million – up from negative $1.21 million in the previous quarter.
The company says its yet to see the full monetary impact of its recent acquisition of APEC.
“The impact of the APEC technologies acquisition has exceed revenue expectations on a year-to-date basis, which combined with record levels of work on hand, establishes a solid foundation for FY22,” CEO Matthew Jinks said.
And the biggest loser today was Environmental Clean Technologies, dropping 7.69% off the back of its quarterly.
The company’s is aiming to construct a small-scale, zero-emission facility for its Coldry technology – which is a cost-effective lignite drying process what reduces low rank coal’s moisture content.
This essentially creates the ideal feedstock for high-value downstream applications including char, syngas, fertiliser and hydrogen.
During the quarter, the company also signed a 5-year coal supply agreement with EnergyAustralia, (the owner of the Yallourn Power Station) in Victoria for the supply of lignite for the Coldry-enabled char project.