Theon secures contract to provide its IRIS-C thermal clip-on to Germany and Belgium

Greek night vision system specialist Theon International has secured a sizeable contract via Europe’s Organisation for Joint Armament Cooperation (OCCAR) for the delivery of its IRIS-C thermal imaging clip-on systems to Germany and Belgium. A signing ceremony for the contract was held at OCCAR’s premises in Bonn, Germany, on 24 September 2025.

Berlin-based Andres Industries also forms part of the Theon’s winning competitive tender as the maintainer of the systems.

The initial order, which mainly requires deliveries in 2026-2027, is worth around EUR 50 million, but there is an embedded option worth around EUR 150 million that Theon expects to be duly exercised.

Theon has stated that the order from OCCAR significantly increases its mid-term revenue visibility and growth trajectory.

The IRIS-C thermal imaging clip-on can be added to any night vision goggle (NVG) system and provides a major upgrade by offering fused imagery, digital capabilities and interconnectivity.

Theon says the IRIS-C system “has quickly experienced strong demand globally and is expected to become an essential thermal add-on to tens of thousands of NVGs already deployed worldwide”. The company has sold more than 200,000 NVGs (monoculars and binoculars) worldwide.

The OCCAR contract comes after Theon made a strong start to the year, announcing on 7 February 2025 that it had added EUR 53 million by that point to an order backlog that stood at around EUR 650 million as of 31 December 2024. A major part of the early 2025 success was Theon becoming a major supplier to the German Future Soldier Program (IdZ).

As part of its industrial commitment to OCCAR, Theon has already expanded production in Belgium, in the Brussels area, involving assembly capabilities and further related investments/activities in the thermal/digital products domain. Theon aims to leverage the country’s technical and research expertise in this sector, as well as its position as the host of the European Union and NATO headquarters.

Speaking of the OCCAR IRIS-C contract, Christian Hadjiminas, founder and CEO of Theon, was quoted in a press release as saying, “Theon once again managed to win the biggest manportable tender so far this year in Europe. Most importantly, this happened with one of our new products that competed with similar established products. This is an important proof of our product quality, swift design and developmental work undertaken by our engineering team. Germany and Belgium will become even more important for our future growth, as our constantly increasing local and thus global production footprint has been paving the path for commercial success.”