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SRT Marine Systems secures £31m funding from Ocean Infinity to support $213m MDA system contract and other contracts
Oct 29, 2024•over 1 year ago
Contract Type
partnership
BathDescription
SRT Marine Systems has secured a finance package of approximately £31m from Ocean Infinity for substantial investment and short-term finance bridge support. This new financing allows SRT to satisfy the need for the substantial performance bond required under the terms of the recently announced $213m contract and provides a foundation to support three other contracts worth an additional $210m during the next quarter.
Agreement Insights
Based on industry dataStrategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months