Magellan Aerospace Corp T.MAL

Sign Manufacturing Contract

[Betteryear2]

May 17, 2022 05:00 PM Eastern Daylight Time

TORONTO--(BUSINESS WIRE)--Magellan Aerospace Corporation (“Magellan”) and RocketFrac Services Ltd. (”RocketFrac”) announced today, a contract for the manufacture of charges for an innovative new fracturing technology that uses solid rocket propellant as an alternative to using hydraulic fracking. RocketFrac and Magellan partnered to develop a new fracturing technology that couples RocketFrac’s patent-pending downhole tool with a new and specifically formulated propellant under an exclusive global license from Magellan. All of the charges will be manufactured and delivered from Magellan’s Winnipeg facility by the end of 2022.

https://www.businesswire.com/news/home/20220517006176/en/

 

[Mike66]

Is it something big ? 

[faraway1]

I suspect that it is not particularily significant from a revenue perspective. Howerer, there is some s aggressive selling taking place.