Spectur earns its stripes with first sale to Aussie military; shares gain 20pc
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Cloud-based security systems from ASX-listed Spectur will protect some of the nation’s most valuable defence infrastructure under a new deal with the Australian military.
In its first military order, Spectur (ASX:SP3) will provide its flagship HD4 camera system to the Australian Department of Defence — after the company gained authorised supplier status.
“Spectur has cleared a major hurdle by being added to the Defence Departments supplier list, which means we can now be considered for defence procurement contracts,” Spectur boss Peter Holton told investors.
“The order shows how the company is meeting its goals of moving into new industries and markets.”
Spectur shares gained 20 per cent to 36c in early Tuesday trade. The stock settled back to 33c by 12.30pm AEST.
Spectur cameras detect motion using algorithms which can distinguish between real objects and shadows or clouds, reducing false alarms.
Once an alarm is triggered, a verbal message is broadcast to an intruder and a large LED light illuminates the area at night while a camera records the images.
The company says it’s a cost-effective system compared to security guards or patrols.
“We see a market for our high-tech surveillance products for use in protecting military infrastructure both in Australia and in overseas territories,” said Mr Holton.
The company plans to build on current interest in its HD4 product with a view to introducing its new thermal camera detection systems for military use – which can spot bad guys from 300m away.
SP3 debuted on the ASX in July last year at a listing price of 20c and has reached a peak of 53c.