PRESS RELEASE
Bloomberg (THEON:NA) / Reuters (THEON.AS)
8 April 2026 – Theon Sensors SA, a completely owned subsidiary of Theon Worldwide Plc (THEON) , has signed a strategic settlement with Rheinmetall Electronics GmbH (RHEINMETALL) for the event, qualification and serial provide of a stabilized multi-sensor electro-optic system based mostly on THEON’s newest PHYLAX know-how, marking an necessary milestone in THEON’s enlargement into superior electro-optical options for contemporary fight autos.
RHEINMETALL, one in all Europe’s largest protection teams and a full system integrator with important expertise in car optronics, has chosen THEON and the PHYLAX system for integration into the stabilized electro-optical sight SEOSS 210 P for Rheinmetall’s 25mm medium-caliber compact light-weight turret options for contemporary land platforms. The settlement establishes a long-term industrial and technological cooperation between the 2 firms. The collaboration displays Rheinmetall’s system integration strategy, combining its platform and fire-control experience with high-performance subsystems from specialised European suppliers whereas strengthening a resilient and interoperable European defence industrial base.
Upon profitable completion of growth and qualification actions, that are aligned with the initially agreed timelines, this system is anticipated to transition to serial manufacturing, in reference to the hearth management system of the Luchs 2 reconnaissance car, with an preliminary dedicated contract worth exceeding €40 million for a number of hundred programs, and the potential for added portions because the system is built-in on additional car platforms and turret applications.
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PHYLAX is a compact stabilized electro-optic system designed to boost situational consciousness, reconnaissance and goal acquisition capabilities for fight autos. The system integrates a high-definition day digicam, a mid-wave thermal imager and an eye-safe laser rangefinder in a compact and light-weight structure optimized for integration on crewless turrets and remotely operated weapon stations.
This cooperation represents a big step for THEON as the corporate expands its portfolio past its globally acknowledged evening imaginative and prescient programs into stabilized electro-optical options for car platforms. The demand for superior electro-optic sensing programs for armored autos is quickly rising, as armed forces worldwide search enhanced situational consciousness, surveillance and goal acquisition capabilities for contemporary digitalized battlefields.
Christian Hadjiminas, Founder and CEO of THEON, talked about: “This contract has been proof of THEON’s design, development and industrial capability in platform-based optronics, which has become evident ahead of our original planning. These efforts have been accelerated through targeted investment in ShockEOS and Kappa Optronics to efficiently combine internal and external design expertise and a global reach through our superior Business Development team. This combination is anticipated to generate further prospects, and this contract marks the initial step among numerous opportunities that THEON is pursuing on a global scale.”
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To advance its bold plans, that are already starting to materialize, THEON has began the development of a brand new facility in Athens, the third constructing within the row, devoted to the manufacturing of PHYLAX and different platform-based merchandise. The power is anticipated to be prepared by Q2 2027, to satisfy the anticipated necessities for elevated capability. The challenge is anticipated to value round €10 million and is already a part of the Capex steerage for 2026-2027.
Philippe Mennicken, Deputy CEO and Enterprise Improvement Director of THEON, acknowledged: “This agreement marks an important milestone for THEON, as we enter a new and rapidly growing segment of advanced electro-optical systems for land platforms. We are proud to cooperate with Rheinmetall Electronics, a globally recognized leader in stabilized electro-optic and fire-control systems for armored vehicles and one of Europe’s most prominent defence technology companies, and we look forward to further strengthening our cooperation with Rheinmetall Electronics as a trusted partner in key programs such as IdZ and in vehicle platform developments with a global leading vehicle manufacturer in Europe
We are confident that together with Rheinmetall Electronics, we will support future vehicle programs with our PHYLAX solution. This achievement demonstrates that THEON can succeed in this segment, but we consider it only the beginning, as we are pursuing additional opportunities where PHYLAX, our TALOS/TRITON product series, and KAPPA’s portfolio are highly relevant.”
Timo HAAS, CEO Division Digital Methods of RHEINMETALL and Christian Hadjiminas, Founder and CEO of THEON signal the deal in presence of Dr. Christian MARTENS, CEO Enterprise Unit Built-in Digital Methods of RHEINMETALL left, and Philippe MENNICKEN, Deputy CEO and Enterprise Improvement Director of THEON (proper)
Image: PHYLAX
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Image: New third manufacturing facility in Koropi
For inquiries, please contact:
Investor RelationsNikos MalesiotisE-Mail: ir@theon.comTel: +30 210 6772290Media ContactElli MichouE-Mail: press@theon.comTel: +30 210 6728610
About THEON GROUP
THEON GROUP of firms develops and manufactures cutting-edge evening imaginative and prescient and thermal imaging programs for Protection and Safety purposes with a worldwide footprint. THEON GROUP began its operations in 1997 from Greece and immediately occupies a number one position within the sector due to its worldwide presence by subsidiaries and manufacturing services in Greece, Cyprus, Germany, the Baltics, america, the Gulf States, Switzerland, Denmark, Belgium, Singapore and South Korea. THEON GROUP has greater than 270,000 programs in service with Armed and Particular Forces in 72 international locations around the globe, 26 of that are NATO international locations. ΤΗΕΟΝ ΙΝΤΕRNATIONAL PLC has been listed on Euronext Amsterdam (AMS: THEON) since February 2024.www.theon.com
