Harvest Technology Group (ASX: $HTG) announcement overview

Harvest Technology Group Limited (ASX: $HTG) has confirmed the receipt of second and third orders for its Nodestream technology from a significant Five-Eyes defence customer, with a combined order value of approximately $380k AUD. The orders involve the deployment of Nodestream TM technology to support Intelligence, Surveillance and Reconnaissance applications. Additionally, the company has received sales orders from other customers this month, totaling approximately $300k AUD.

Executive commentary on recent orders and future outlook

The opportunity to work collaboratively and globally within the Five-Eyes defence network is very exciting for us and demonstrates a demand for the capabilities we offer. As a small team, we work tirelessly to meet the needs of our customers by consistently delivering better performance, usability and unparalleled reliability, and this is reflected in the acceptance of our technology. We look forward to growing our relationships in the defence sector through 2024 and beyond. Acceptance at this level validates our technology, products, and solutions. It gives credence to our vision of realising remote, robotics and autonomy. Furthermore, this is affirmation that we are on target, the team are delivering and perhaps most importantly, it will provide invaluable operational feedback to further refine our offerings, particularly in this space.

Summary of recent orders and outlook

Harvest Technology Group (ASX: $HTG) has received second and third orders for its Nodestream technology from a significant Five-Eyes defence customer, reinforcing the credibility and value of its technology for defence applications. The combined order value is approximately $380k AUD, with cash received upfront. The company also reported additional sales orders from other customers this month, totaling approximately $300k AUD. The company anticipates further expansion of its technology usage across various operational theatres within the defence sector. The recent orders, along with the successful deployment of Nodestream TM Integrated devices into drones being trialled with the Japanese Self-Defence Force, indicate a positive outlook for Harvest Technology Group's growth and relationships in the defence sector through 2024 and beyond.