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Critical Infrastructure Technologies Ltd. ( (TSE:CTTT) ) has provided an update.
Critical Infrastructure Technologies has received a dual-use Innovation Certificate from Latvia’s Ministry of Defence, enabling it to apply for up to €3 million in project financing from state development lender ALTUM to establish manufacturing operations in Liepāja. The €4 million project, to which the company will contribute about €1 million, includes securing industrial premises, hiring up to six staff, engaging Latvian and EU suppliers, and building five Nexus 20 units for sale within Latvia and the wider European Union.
The planned facility, potentially located in the Liepāja Special Economic Zone with a 4% corporate tax rate, would serve as CiTech’s European manufacturing base and support its strategy of positioning Latvia as its regional headquarters. The Innovation Certificate formally recognizes the dual-use nature of CiTech’s technology and further embeds the company in the European defence and security ecosystem, reinforcing its growing presence and partnerships across NATO’s Eastern Flank.
More about Critical Infrastructure Technologies Ltd.
Critical Infrastructure Technologies Ltd., listed on the CSE and based in Perth, develops autonomous, high-capacity, rapidly deployable mobile communications platforms. Its Nexus series, including the Nexus 16 and Nexus 20, targets mining, defence, border security, surveillance and emergency services markets, providing robust self-deploying towers that can carry LTE, surveillance and anti-drone payloads.
Average Trading Volume: 81,830
Technical Sentiment Signal: Hold
Current Market Cap: C$59.87M
Learn more about CTTT stock on TipRanks’ Stock Analysis page.