XTEK has signed a $830,000 grant agreement from the Centre for Defence Industry Capability (CDIC) for a Sovereign Industrial Capability Priority (SICP) grant, on behalf of the Department of Defence.
The SICP grant provides funding to support Australian SMEs in supplying capabilities that are most critical to Defence.
The SICP grant will contribute the funds to XTEK for its ballistic combat helmet product line.
This follows several key company milestones. The opening of the new manufacturing centre in Adelaide is expected to increase production capacity of XTEK’s XTclave manufactured products to up to $20m in revenue, with the establishment of this centre supported by a previous $1m SICP Grant.
XTEK also recently acquired HighCom Armour Solutions (HighCom) to expand into the lucrative US market.
“We are pleased to be a recipient of the SICP Grant, representing continued support and validation by the Australian Department of Defence of the advanced capabilities of our XTclave manufactured ballistic armour," Philippe Odouard, Managing Director of XTEK, commented. "The funding supports the execution of our broader strategy to commercialise our state-of-the-art technology by enhancing the production and testing capability for our proprietary ballistic helmets."