Metatek Orders New Instrument From Lockheed Martin With Seven-Year Global Exclusivity
MT newswire2026/10/06 15:3211:32 AM EDT, 10/06/2026 (MT Newswires) -- Metatek-Group (MTEK.TO) concluded an agreement with Lockheed Martin (LMT), for the manufacture and purchase of a new Enhanced Full Tensor Gravity Gradiometry (eFTG) instrument, it said on Tuesday. The company gets seven years of global exclusivity in relation to the purchase of new eFTG systems from Lockheed Martin, it said. The deal includes preferential pricing for the purchase of an additional eFTG instrument. On the purchase of an additional eFTG, Metatek's global exclusivity would be extended by a further two years, to nine years. The company expects the manufacturing of new instrument to take about three years, it said. "Since the deployment of the first eFTG just over five years ago, the instrument has demonstrated its capabilities across a wide range of projects and operating environments. The combination of rapid data acquisition with high-resolution subsurface imaging is delivering material benefits for our clients. Exploration and investment decisions can be made with greater confidence and in shorter timeframes," chief executive Mark Davies said. Shares of the company were last seen up CA$0.01, or 0.3%, to CA$2.91 on the Toronto Stock Exchange. Price: 2.91, Change: +0.01, Percent Change: +0.34
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Jensen Huang's influence surpasses that of Nvidia— and that's exactly the problem
Jensen Huang has been the key driving force behind the massive expansion of AI infrastructure, with his personal credibility and authoritative decision-making deeply embedded in the narrative of the global tech market’s rise over the past three years. Now, as scandals emerge, Nvidia’s trading team is expected to become more conservative and slow down external financing commitments, which undoubtedly worsens the situation for neoclouds already facing tight funding.
Deutsche Bank made significant Q3 purchases of midstream AI application stocks: the three major cloud giants saw increased holdings, with Palantir (PLTR.US) and Salesforce (CRM.US) also favored.
Deutsche Bank has submitted its third quarter 13F holdings report for the period ending September 30, 2026.
Crypto prices
More
