Nukkleus Says Rimon Set To Gain From Israel’s Iron Dome Expansion
Synopsis
Through its controlling stake in Star 26 Capital, Nukkleus is in the process of acquiring Rimon, which has established partnerships with Rafael, Elbit Systems, and other leading defense integrators.
Nukkleus Inc. (NUKK) stated on Tuesday that Rimon, the Israeli supplier of critical power and subsystem components for the Iron Dome missile defense system, is expected to “benefit substantially” from the multi-billion-dollar Iron Dome expansion recently approved by Israel’s Ministry of Defense.
Through its controlling stake in Star 26 Capital, Nukkleus is in the process of acquiring Rimon, which has established partnerships with Rafael, Elbit Systems, and other leading defense integrators. “As the new production surge ramps up, Nukkleus anticipates a significant increase in demand for Rimon’s manufacturing capabilities,” the company stated.
Israel’s Ministry of Defense in November announced the signing of a procurement agreement with Rafael Advanced Defense Systems to accelerate serial production of Iron Dome interceptors and supporting systems.
Shares of Nukkleus jumped nearly 10% in early trading.
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