German tech company signs €60 million contract with Elon Musk for satellite solar cell supply

SpaceX has signed a €60 million contract with Singulus Technologies for solar cells to support its Starmind satellite project. This deal marks a significant boost for the German company, whose stock surged by 65% following the announcement. The partnership aims to enhance solar production capabilities, targeting a capacity of 100 gigawatts. Singulus specializes in heterojunction solar cells suitable for space applications. The Starmind project, set to launch in 2027, will create satellites functioning as AI data centers, utilizing solar power for efficiency. Despite ambitious plans for a million satellites, current numbers are much lower, with Starlink operating 9,500 of the 15,000 satellites in orbit.