Spire has announced it has been awarded a contract to develop solar cells to be in space applications for US missile defence.
It will produce high-efficiency, multi-junction parts to be used by the Missile Defence Agency (MDA) and the company believes the deal will help to further establish its expertise and capabilities in concentrator photovoltaic technology that can be used in both space and terrestrial solar applications.
Roger Little, chairman and chief executive of Spire, which owns the semiconductor manufacturer said there are significant market opportunities for this kind of innovation and believes the contract validates the company's approach to producing efficient, low-cost applications.
"We have already generated significant customer interest, and we plan to work closely with the MDA and customers to develop devices that optimally address strategic interests and market needs," he added.
The firm's annual revenues for the past five years have ranged from $20.1 million (£13.8 million) to $69.8 million.