IRIS-C thermal clip-on for military use

Theon International Plc (THEON) and Andres Industries AG (ANDRES) announce the signing of a significant new contract for the supply of THEON's new generation of IRIS-C thermal imaging clip-ons in Germany and Belgium. Andres Industries will be responsible for product maintenance. THEON participated in the tender together with ANDRES and prevailed over competitors who have been on the market for more than 10 years with established systems.

The initial order is worth approximately €50 million, with an extended option of approximately €150 million. Deliveries are mainly scheduled for 2026–2027, which significantly increases medium-term planning security and growth prospects. In the current global political situation, it can be assumed that all options will be exercised. The contract and initial budget have already been approved by the respective parliaments.

Since its market launch, IRIS-C has seen strong demand worldwide and is expected to become an indispensable thermal imaging accessory for several thousand night vision devices already in use. THEON has already sold more than 200,000 night vision devices (monoculars and binoculars), and IRIS-C represents a major upgrade by providing fusion images, digital capabilities, and interconnectivity for the armed forces that adopt it. Importantly, the IRIS-C thermal imaging clip-on can be added to any NVG – not just THEON's market-leading products.

Europe and the Middle East will remain the most important markets for THEON in the coming years, as the expected demand for portable equipment continues to grow. This new order follows THEON's earlier announcement of its participation in the IdZ program (Future Soldier – System Soldier of the German Armed Forces) and demonstrates the company's ability to successfully diversify its product portfolio with leading in-house developments. These head-up displays and thermal imaging clip-ons are expected to become the new benchmark products for modern armed forces – initially in Europe, and later worldwide.

This new contract is directly related to the recent investments in Andres Industries AG. ANDRES has also been developing and manufacturing its own thermal imaging devices for many years and plans to take over the distribution of Theon night vision devices in Germany, Austria, and Switzerland.

On September 24, the contract was signed with THEON and ANDRES at the OCCAR procurement organization.