nLIGHT Inc (NASDAQ:LASR) shares are trading higher by 8.7% to $12.38 Monday morning after the company announced a $34.5 million contract for DE M-SHORAD laser weapon system.
The company says this recognition validates Lilium’s capability to design safe aircraft and positions them as leaders in the industry, allowing them to hold a type-certificate for eVTOL aircraft in Europe.
nLight added, after achieving this milestone, after a rigorous process since 2017, is crucial for commercial aircraft manufacturers.
The approval serves as a “License to Operate,” confirming Lilium’s adherence to top safety standards. EASA praised Lilium’s efforts in ensuring safety, environmental considerations, and societal acceptance of Urban Air Mobility while fostering innovation in the industry.
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According to data from Benzinga Pro, nLight has a 52-week high of $15.91 and a 52-week low of $8.13.
