Addvalue Technologies has announced it has secured a new undisclosed customer for its IDRS terminal supply and related provision of airtime service.
In a filing to SGX dated April 29, Addvalue states that it will announce further details on the new customer and order upon release from its non-disclosure obligations.
With the new addition, Addvalue now has a total of five IDRS customers with an aggregate of more than 170 satellites to be deployed.
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Addvalue also states The group has started generating IDRS airtime revenue following the successful commissioning of three IDRS terminals for commercial service in space since early 2021.
Addvalue says it expects to receive more IDRS-related orders for the next 12 months and beyond.
Shares in Addvalue closed flat at 2.2 cents on April 29.