(Alliance News) - Officina Stellare Spa announced Thursday evening that it has been granted financial facilities by the Ministry of Enterprise and Made in Italy for the implementation of the project "Monitoring and Communication Technologies for the New Space Economy MaC Tech."

The project has a duration of 36 months and will be carried out in collaboration with the National Research Council-Institute of Photonics and Nanotechnology.

The total cost deemed eligible determined during the preliminary investigation is EIR6.6 million, corresponding to a total facilitation of EUR3.0 of which EUR2.1 million is in the form of a contribution to expenditure and EUR911,815.30 in subsidized financing.

The project covers the development of key enabling technologies explains the company in a note: KET 2 Photonics and micro/nano electronics and KET 6 Digital connection and security in the area of quantum cryptography and their applicability of optical space/earth communication and Earth observation.

Officina Stellare's stock trades in the green by 1.7 percent at EUR12.25 per share.

By Chiara Bruschi, Alliance News reporter

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