09:27 AM EDT, 09/03/2025 (MT Newswires) -- VisionWave ( VWAV ) said Wednesday it launched a joint venture with Israel-based defense technology company Aiphex to fast-track the development, commercialization and deployment of advanced defense and space technologies.

The Nevada-based joint venture is valued internally at about $5 billion and is mandated to pursue US and international defense contracts, VisionWave ( VWAV ) said.

VisionWave ( VWAV ) and Aiphex will each hold 46.76% of the joint venture, with the rest to be held by GBT Tokenize and GBT Technologies, according to VisionWave ( VWAV ).

The agreement, which has a renewable term of seven years, can be automatically terminated if designated projects don't generate revenue within the first year, VisionWave ( VWAV ) said.

The company's shares were up 7.7% in recent premarket activity.