Israeli defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE:ESLT) said today that it has been awarded a contract worth $16 million to supply a space telescope to the Weizmann Institute of Science as part of Israel’s Ultraviolet Transient Astronomy Satellite (ULTRASAT) program to observe and research deep space.
Elbit Systems reported that it will develop, manufacture and integrate a highly sensitive, wide field of view ultraviolet space telescope that is intended to help scientists in understanding the creation of heavy elements, black holes and gravitational waves and discover astronomical phenomena such as supernovas (star explosions). Elbit Systems has a record of providing space cameras, satellites and other electronic instruments of its production to space programs in Israel, the US, Europe, South Korea and Brazil.
The ULTRASAT program is jointly managed and funded by the Weizmann Institute of Science and the Israeli Space Agency and is carried out in association with the German DESY research center. The contract will be performed over two years.
Elbit Systems ISTAR & EW general manager Oren Sabag said, "We are proud to take part in this scientific endeavor lending our capabilities and experience to the effort to better understand nature. We are pleased with the opportunity to cooperate with the Israel Space Agency and with the scientific community led by the Weizmann Institute of Science and the German DESY research center."
Elbit Systems, headed by CEO Bezhalel Machlist and controlled by Mickey Federmann, is traded on Nasdaq and the TASE with a market cap of $7.25 billion.
Published by Globes, Israel business news - en.globes.co.il - on January 26, 2022.
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