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ASX Tech Stocks: Spacetalk nabs US Best Buy deal and NASA picks nuclear power designs for the moon
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- NASA selects the fission design for nuclear power on the moon
- Spacetalk’s GPS kids smartphone watches now available at Best Buy
- Metaverse player Vection Technologies sponsors American Depositary Receipt (ADR) program
NASA and the US Department of Energy (DOE) has selected three design concept proposals for nuclear power on the moon.
And the fission design could be ready to launch by the end of the decade with Lockheed Martin, Westinghouse and IX awarded around $5m contract each to develop a 40-kilowatt class fission power system planned to last at least 10 years in the lunar environment.
The idea is that the fission systems could enable continuous power regardless of location, available sunlight, and other natural environmental conditions – and having one on the Moon could pave the way for long-duration missions on the Moon and Mars.
“New technology drives our exploration of the Moon, Mars, and beyond,” NASA’s Space Technology Mission Directorate associate administrator Jim Reuter said.
“Developing these early designs will help us lay the groundwork for powering our long-term human presence on other worlds.”
Who’s got tech news out today?
The child safety tech company has announced that US consumer electronics retailer Best Buy will stock its Adventurer wearable GPS smartphone watch for kids.
Initially to be sold through Best Buy’s online channels, the Spacetalk Adventurer will be bundled with a JumpySIM cellular (mobile) network SIM.
While the financial impact of the deal is currently unknown, CEO Mark Fortunatow said it’s a key milestone in the company’s growth strategy in North America.
VECTION TECHNOLOGIES (ASX:VR1)
Metaverse player Vection says it will sponsor an American Depositary Receipt (ADR) program to increase its exposure and attractiveness to North American investors and partners.
Deutsche Bank Trust Company Americas has been appointed depositary bank for the program, which became available for trading in the US on Tuesday, 21 June 2022.
Vection’s ADR will trade in the US over-the-counter (OTC) market under the symbol VCTNY, with one Vection ADR representing 120 existing ordinary shares.
The company says the program represents “a stepping stone to a potential future transition from a Level 1 ADR program to a Level 2 or a Level 3 ADR program, allowing for the ADRs to be listed on the Nasdaq Stock Market, subject to the company’s future plans and general market conditions.”
