$26.2 million UK MoD Order for Project CAIN
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Solid State plc
(“Solid State”, the “Group” or the “Company”)
$26.2 million UK MoD Order for Project CAIN
Solid State plc (AIM: SOLI), the specialist value-added supplier and design-in manufacturer of computing, power, and communications products, is pleased to announce that its subsidiary Steatite Ltd has secured a follow-on order valued at US $26.2 million under Project CAIN, a major defence programme for a UK Government end user.
The order represents a significant milestone in Steatite’s ongoing strategy to deliver cutting-edge, mission-critical technologies to the UK’s armed forces and security community. Under Project CAIN, Steatite will supply a range of secure, ruggedised systems including the MPU5 and Wave Relay Technology from Persistent Systems, supporting advanced operational capabilities in challenging environments.
Delivery of these systems is scheduled for the first half of 2027. The project further strengthens Steatite’s position as a trusted supplier to the UK Ministry of Defence and reinforces its reputation for innovation and reliability in the delivery of secure technology solutions.
Commenting on the award, James Hall, Head of Communications Business Unit said:
“This solution allows our customers to connect, decide and act faster. We thank our communications team, as well as Persistent Systems LLC for their high levels of support and coordination, to ensure we deliver for the users. We look forward to supporting the MoD in the months and years to come on such a prestigious and vitally important programme.”
John Macmichael, Chief Executive Officer of Solid State plc added:
“This order further underpins our existing guidance for FY26/27 and FY27/28 and gives us increased confidence as we look forward to 2027.
“As a Group we provide power solutions, sensors, digital connectivity and the edge processing systems to enable our customers to make quicker, better informed decisions under pressure.
“This follow-on contract win is the result of extensive collaboration with our customer, the OEM Persistent Systems, and other commercial providers, which highlights the strength of Steatite’s capability and commitment to operational excellence. Under Project CAIN, Steatite is proud to be playing an important part in establishing, scaling and sustaining the digital battlefield.”
This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
Investor Site Visits to Head Office in Redditch
Solid State holds site visits to its head office in Redditch where operations from both the Systems and Components divisions can be seen. Interested investors should contact solidstate@walbrookpr.com.
For more information, please contact:
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Solid State John Macmichael - Chief Executive Officer Peter James – Chief Financial Officer
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Via Walbrook |
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Cavendish Capital Markets Limited (Nominated Advisor & Joint Broker) Adrian Hadden / Callum Davidson (Corporate Finance) Jasper Berry (Sales / ECM)
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020 7220 0500 |
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Zeus Capital (Joint Broker) Mike Coe / Ed Beddows (Investment Banking) Nick Searle (Head of Equity Capital Markets)
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020 3829 5000 |
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Walbrook PR (Financial PR) Tom Cooper / Nick Rome / Marcus Ulker |
020 7933 8780 0797 122 1972 |
Analyst Research Reports: For further analyst information and research see the Solid State plc website: https://solidstateplc.com/research/
Notes to Editors:
Solid State plc (AIM: SOLI) is a leading value-added electronics group supplying industrial and defence markets with durable components, assemblies and manufactured systems for use in critical applications, with a particular emphasis on harsh operational environments. Solid State's products are found around the world, from the ocean floor and into space, ensuring the smooth operation of systems that augment our everyday lives.
The Company has a core focus on integrated computing and vision systems, high performance antenna and radio communications systems, battery power solutions, and electronic components.
Operating through three divisions (Systems, Power and Components) the Group thrives on complex engineering challenges, often requiring design-in support and component sourcing. Serving a wide range of industries, with particular skills and expertise relevant to defence, energy production, aerospace, environmental, oceanographic, industrial, robotics, medical, life sciences, and transportation, the Solid State trading brands have become synonymous with quality and reliability. The Group operates under the brands of Steatite, Solsta, Custom Power, Pacer, Active Silicon, Gateway, Durakool, Ndura, and Q-Par.
Solid State plc is headquartered in Redditch, UK, and employs over 475 people around the world. The business has seven production facilities in the UK and one in the USA. In total, including all office locations, the Group operates from 13 national and international sites.
Solid State was established in 1971 and admitted to AIM in June 1996. The Group has grown organically and by acquisition - having made three acquisitions in the last five years.
Take a look at the videos below for more insight into the Solid State Group.
Introduction to Solid State - https://youtu.be/1M_Q_B1mYic
Why invest in Solid State? - https://youtu.be/ShmTz6005ws
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