Meriaura Group Oyj: Summa Defence's target company Lightspace will deliver multi-focal AR headsets to a leading European defense group
Meriaura Group Plc
Investor news 2 April 2025 at 9.30 a.m. (CEST)
Summa Defence's target company Lightspace will deliver multi-focal AR headsets to a leading European defense group
Defense and security technology group Summa Defence's target company Lightspace has received purchase order for delivering of its multi-focal AR headsets from a leading European defense group.
Purchase order marks a beginning of wider use of Lightspace multi focal display technologies, and will serve as extended reality application development kits for several use cases.
"This is the first step in a broader commercialization project. We have been developing our multi-focal AR headsets for a long time and this order is a testament to the capability and usability of our products," says Ilmars Osmanis, Managing Director of Lightspace.
Lightspace is a deep technology company focusing on XR technology, i.e. augmented reality (AR) and virtual reality (VR). The company develops solutions for the defense and healthcare industries. Lightspace Technologies, founded in 2014, conducts its product development and manufacturing in Latvia.
Lightspace is the global technology leader in multi focal AR near-eye displays, in which augmented reality is acting as an AI interface. The company currently has in production AR glasses that integrate into the helmet of the crew of armoured fighting vehicles, giving the user a 360-degree view, for example from inside a main battle tank to the outside, as well as additional information needed to lead the battle or mission through an AI interface. Lightspace is also developing ISR (Intelligence, surveillance and reconnaissance) AR headsets for the ground control personnel to operate the military drones.
The target companies of Summa Defence include Lännen Tractors, Aquamec, Uudenkaupungin Työvene, IntLog and Lightspace Technologies. These companies are expected to become subsidiaries of Summa Defence Group tentatively in April 2025 in the execution of the share exchange transactions announced on January 29, 2025.
Meriaura Group Plc and Summa Defence Oy to merge with a share exchange
On 29 January 2025, Meriaura Group Plc signed a conditional share exchange agreement to acquire the entire share capital of Summa Defence Oy, which brings together defence and security companies. The transaction will create a strong group of companies focusing on safety and security of supply in Finland, in which dual-use technology will play a significant role. In connection with the arrangement, the Marine Logistics business (Meriaura Oy and its wholly owned subsidiary VG-EcoFuel Oy) will be sold to Meriaura Invest Oy. The name of the new listed company will be Summa Defence Plc. The holding of Meriaura Group’s current shareholders in the new group of companies will be 11.9%, and that of Summa Defence’s shareholders will be 88.1%.
Meriaura Group’s company release about the conditional share exchange agreement can be found at:
/meriaura-group-oyj-inside-information-meriaura-group-plc-and-summa-defence-oy-to-merge-into-a-new-group-of-companies-in-the-defence-sector/
MERIAURA GROUP PLC
Further information:
Meriaura Group Plc
CEO Jussi Mälkiä
Phone: +358 40 078 5489
Email:
Summa Defence Oy
CEO Jussi Holopainen
Phone: +358 44 517 4543
Email:
Meriaura Group in brief
Meriaura Group has two business areas: Marine Logistics and Renewable Energy.
Marine Logistics business is carried out by Meriaura Ltd, which is a major provider of transport for bulk cargo and demanding project deliveries in Northern Europe, especially in the Baltic Sea and North Sea regions. The company provides its customers with competitive and low-emission marine transport services, based on long-term affreightment agreements, modern fleet, and active development of its operational sustainability. In addition, Meriaura has a strong market position in the marine logistics in renewable energy construction projects.
The Marine Logistics business also includes VG-EcoFuel Ltd which produces biofuels from bio-oils and recycled oils generated as industrial by-products.
The Renewable Energy business focuses on comprehensive clean energy systems. Meriaura Energy Ltd designs and delivers clean energy production systems as comprehensive deliveries for industrial use and district heating. The energy production is based on large-scale solar thermal systems implemented using high-performance solar thermal collectors manufactured by the company. The Renewable Energy business also includes Rasol Ltd, specialised in delivering high-quality solar power systems for real estates, companies and solar parks.
Meriaura Group’s share is listed on Nasdaq First North Growth Market Sweden as MERIS and on Nasdaq First North Growth Market Finland as MERIH.
The Company’s Certified Adviser is Augment Partners AB, , tel. .
