Orbital Corporation Limited (AU:OEC) has released an update.
Orbital Corporation Ltd has entered production for three new engine lines, targeting clients in the USA, Singapore, and Vietnam, with initial deliveries completed. The company has also expanded an order with DSO National Laboratories, boosting revenues by $3.5 million, and is on track to become debt-free by January 2025 after repaying a government loan and anticipating a grant approval. Orbital’s engineering team is advancing a new engine design to enhance payload delivery and power specifications for uncrewed aerial vehicles, promising strong prospects for future capabilities.
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