SpaceX order: Singulus stock more than doubles in Frankfurt

What happened. On the evening of November 10, Singulus Technologies, a German equipment maker, published inside information: it signed a contract with SpaceX for a turnkey line to make HJT solar cells. Singulus puts the order for the first line at more than €60 million.

What is planned. The contract is part of a strategic partnership with SpaceX. Under it, Singulus plans to deliver several additional lines. Production is to scale to support more than 100 GW of production equipment as SpaceX ramps up satellite manufacturing in Bastrop, Texas. The first line is due in the first half of 2027.

What Musk said. On Tuesday evening Elon Musk wrote on X that SpaceX ordered HJT solar cell manufacturing equipment from Singulus in Germany with a capacity of 100 GW a year. The company's announcement fixes one line, and the rest are only planned.

How the market reacted. According to Handelsblatt, the stock traded at €25.90 on Wednesday midday, about 104% above the previous close of €12.70. According to dpa-AFX, it rose as high as €27.20, the highest level in more than ten years. At the end of 2025 it was about €1.34.

Where the money comes from. The partnership began in March 2026. SpaceX provided significant funding to Singulus in March and again in October 2026 as part of a recently announced subordinated secured loan.

What is unknown. How many lines SpaceX will order and when. What sums stand behind the other lines. How Singulus will scale up production. For now, one contract for one line is confirmed.

Confirmed facts

• On November 10, 2026 Singulus announced a contract with SpaceX for a turnkey production line for heterojunction solar cells.^[1][2]
• The order value for the first line under the broader supply agreement is more than €60 million.^[2][3]
• Singulus is planning to deliver multiple additional lines under the partnership.^[1][2]
• The first line is due in the first half of 2027, with production scaling to support more than 100 GW of production equipment for SpaceX satellite manufacturing in Bastrop, Texas.^[1][2]
• Elon Musk wrote on X that SpaceX ordered solar cell manufacturing equipment with a capacity of 100 GW a year.^[3][4]
• Singulus shares reached €27.20, the highest level in more than ten years, and more than doubled.^[4]
• The stock closed at about €12.70 the day before, and traded at €25.90 on Wednesday midday.^[3]
• At the end of 2025 the stock was about €1.34.^[3]
• The partnership with SpaceX began in March 2026, and SpaceX provided funding in March and October 2026.^[1][2]

Implications

• ConfirmedOne contract for one line is confirmed. Further deliveries are still only plans.
• Our readingThe 100 GW figure from Musk and the contract value describe different things: the first is future scale, the second is the first line. This is our view.
• Our readingThe jump shows how strongly the market reacts to any order from SpaceX. This is our view.

Still unknown

• How many more lines SpaceX will order under the contract, and for how much
• When the next orders will be signed
• How much of the 100 GW a year Singulus deliveries will cover

Who it affects

Germany, United States, Global. Readers who saw the stock jump and want to know what the filing confirms and what is only Musk's words

Sources

1. Singulus Technologies: SINGULUS TECHNOLOGIES Announces Major Supply Contract with SpaceX for Advanced HJT Solar Cell Manufacturing Equipment November 10, 2026 · official
2. Singulus Technologies (PTA ad hoc, via FinanzNachrichten): Großauftrag von SpaceX für Produktionsanlagen zur Herstellung fortschrittlicher HJT-Solarzellen November 10, 2026 · official
3. Handelsblatt: Singulus-Aktie verdoppelt sich nach SpaceX-Auftrag November 11, 2026 · media
4. finanzen.net (dpa-AFX): Aktie im Fokus: Singulus-Kurs nach SpaceX-Großauftrag mehr als verdoppelt November 11, 2026 · media