THEON International Plc (THEON.AS), on Tuesday, announced a series of strategic investments and partnerships in the United States and Europe under its THEON NEXT initiative to advance next-generation soldier systems through targeted investments, collaborations, and co-development initiatives.
To support this vision, THEON has committed $15 million to Kopin Corp., a U.S.-based micro-display specialist. This includes a $7 million convertible loan and an $8 million equity stake in Kopin's Scottish subsidiary, which will serve as the foundation for a new European joint venture. THEON's U.S. subsidiary, T-Industries, will relocate to Kopin's Virginia facility, establishing a manufacturing hub for AR-enabled products. An additional $8 million will be invested over five years to support U.S. operations and co-development efforts.
THEON has also signed a renewable two-year supply agreement with eMagin Corp., a key supplier of OLED micro-displays used in THEON's A.R.M.E.D. product line, including the IRIS-C system. This partnership ensures continued access to high-resolution imaging technologies critical for defense applications.
In another strategic move, THEON has partnered with ALEREON to integrate Ultra-Wide-Band wireless technology into its systems. UWB offers secure, low-latency communication superior to conventional protocols like Wi-Fi or Bluetooth. THEON will manufacture UWB-enabled systems in Greece and promote them across Europe and the Middle East.
Also, THEON has made an investment of €5 million in VARJO Technologies Oy, a Finnish company that specializes in VR and MR headsets designed for defense training and simulation. The investment is structured as a convertible loan and includes the potential for an additional €5 million. This partnership aims to leverage THEON's expertise in defense alongside VARJO's immersive technologies to create advanced training solutions.
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