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Orbital Corporation Limited (ASX:OEC)

ALERT: Price-sensitive ASX Announcement for OEC
Current share price for OEC : $0.140 -0.04 (-22.22%)+
Announcement
Release
7 May 2026 10:30AM
Price at Release
$0.180
Full Release
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Summary
On May 7, 2026, Orbital Corporation Limited announced a new order for five 150HFE heavy fuel engines from a US-based unmanned aircraft systems company, marking a strategic move towards potential recurring revenue under a 'Power by the Hour' model. This order, valued at approximately A$600,000, is connected to the US Coast Guard's interest in a long-term UAS ISR Services program, which could involve up to 80 UAS systems. The engines are tailored for endurance and reliability in challenging maritime environments, having already demonstrated significant operational capabilities with the US Navy.
Key Points
  • Orbital Corporation Limited has received a Purchase Order from a US-based unmanned aircraft systems company for five 150HFE heavy fuel engines and associated services, valued at approximately A$600,000.
  • These engines are intended for a Group 3 long-endurance UAS, capable of 24-hour continuous flight and approved for Beyond Visual Line of Sight operations in the US.
  • The purchase is linked to a potential 'Power by the Hour' model, allowing for recurring revenue based on operational flight hours.
  • The US Coast Guard is interested in a Contractor Owned Contractor Operated UAS ISR Services program, which could require up to 80 UAS systems.
  • Orbital's 150HFE engine is designed for endurance and reliability in maritime ISR operations, with significant operational flight time logged with the US Navy.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.