THEON Strengthens Market Position with New Thermal Technology Order
THEON Receives Major Order for Thermal Clip-On IRIS-C
Theon International Plc (THEON) has recently announced a notable development in its operational journey. A prominent customer has placed a substantial order for several thermal clip-on units, specifically the IRIS-C. This order is set to equip the Special Forces of a Northern European nation, following rigorous assessments and testing of the product. This strategic order signifies not only a solid relationship with long-standing clients but also highlights the increasing trust in THEON’s innovative product solutions.
The Growing Demand for IRIS-C Units
The IRIS-C has been steadily gaining popularity among military customers around the globe. With its cutting-edge technology and functionality, it is anticipated to become the standard for enhancing night vision goggles (NVGs). THEON has made impressive strides in the past weeks, converting approximately €66 million of previously announced orders into hard backlog, predominantly for its new digital A.R.M.E.D. products.
Significance of the Order
The recent order reflects strong momentum for THEON as it enters the third quarter of the fiscal year. Philippe Mennicken, Deputy CEO & Business Development Director, emphasized that this marks a critical milestone for the thermal clip-on range. He praised the capabilities of the in-house design team, indicating that more large-scale tender announcements could be forthcoming. These developments could lead to a significant diversification of revenues starting next year, in addition to the ongoing growth in their market-leading night vision products.
A Step Forward in Product Diversification
This new customer order follows earlier announcements regarding THEON’s involvement in the IdZ (German Future Soldier) program and underscores the company’s commitment to broadening its product assortment through innovative solutions. The A.R.M.E.D. ecosystem is tailored to enhance situational awareness for military personnel utilizing next-generation digital technologies. This latest order is a testament to THEON’s ability to evolve and adapt its product offerings to meet the needs of modern defense forces.
About THEON Group
Established in 1997, THEON GROUP specializes in the development and manufacture of advanced night vision and thermal imaging systems. With a robust global presence, the company operates subsidiaries and production facilities across several countries, including Greece, Cyprus, Germany, and the United States. Currently, THEON has more than 200,000 systems deployed with armed and special forces in 71 countries, including 26 NATO member states. The company has been listed on Euronext Amsterdam (AMS: THEON) since early 2024.
Media and Investor Relations
For any inquiries, please reach out to:
Investor Relations
Nikos Malesiotis
E-Mail: ir@theon.com
Tel: +30 210 6772290
Media Contact
Elli Michou
E-Mail: press@theon.com
Tel: +30 210 6728610
Frequently Asked Questions
What is the IRIS-C?
The IRIS-C is a thermal clip-on unit designed to enhance the capabilities of night vision goggles for military forces.
Which forces will the new IRIS-C units equip?
The units will be deployed with the Special Forces of a Northern European country.
What recent orders has THEON converted into backlog?
THEON has moved approximately €66 million of previously announced orders, mainly focused on its A.R.M.E.D. products, into hard backlog recently.
How does THEON's A.R.M.E.D. ecosystem enhance military capabilities?
THEON's A.R.M.E.D. products are designed to improve situational awareness for military personnel using advanced digital technologies.
Where is THEON Group operational worldwide?
THEON Group operates in multiple countries, including Greece, Cyprus, Germany, the United States, and many more, delivering systems to 71 countries worldwide.
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