Elon Musk signed a major order on Wednesday with a medium-sized German tech company, Singulus Technologies, to supply solar cells for his new line of satellites, Starmind.The €60 million major order is the first of many, according to a statement from SpaceX founder Elon Musk on X.Following the deal, the company's stock temporarily spiked by 65% to 80%, which valued the firm at around €73 million. A groundbreaking rise as the company's annual revenue in 2025 was only €48.3 million.As part of a strategic partnership, further facilities and production lines are planned to be created for a solar power production capacity of 100 gigawatts, the equivalent of the annual production of ten large nuclear reactors.'Next-generation solar cell technology'The company, based in Kahl am Main in western Germany, manufactures "heterojunction solar cells" that are particularly suitable for space applications, according to Business Insider."The strategic partnership with SpaceX allows us to further industrialise these capabilities at a meaningful scale and solidify our position as a leading Western provider of next-generation solar cell technology," Lars Lieberwirth, Member of the Executive Board of SINGULUS, said in a statement."The combination of their process expertise and our long-term commitment creates a durable option for scaling solar production," said Mike Nicolls, SpaceX’s Senior Vice President of Starlink.Singulus develops and assembles machines used in the "Photovoltaics, Semiconductor, Medical…
German tech company signs €60 million contract with Elon Musk for satellite solar cell supply
SpaceX signed a €60 million deal with German mechanical engineering company Singulus Technologies for the strategic supply of solar cells, giving the German company a massive price jump.
In brief
Elon Musk signed a major order on Wednesday with a medium-sized German tech company, Singulus Technologies, to supply solar cells for his new line of satellites, Starmind.The €60 million major order is the first of many, according to a statement from SpaceX founder Elon Musk on X.Following the deal, the company's stock temporarily spiked by 65% to 80%, which valued the firm at around €73 million. A groundbreaking rise as the company's annual revenue in 2025 was only €48.3 million.As part of a strategic partnership, further facilities and production lines are planned to be created for a solar power production capacity of 100 gigawatts, the equivalent of the annual production of ten large n…
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