Metal Storm Receives USMC Contract for Demonstration of Non-Lethal Weapon System
30 June 2008 - 1:10PM
Marketwired
ARLINGTON, VA (NASDAQ: MTSX), is pleased to announce that Metal
Storm Incorporated (MSI) has received a contract from the United
States Marine Corps Systems Command (MARCORSYSCOM) to demonstrate
capabilities for the Mission Payload Module (MPM) -- Non-Lethal
Weapons System (NLWS). The firm fixed price contract is valued at
US$103,751.
Under the terms of the contract, Metal Storm will prepare and
deliver a demonstration model for a Government-controlled Market
Research Demonstration (MRD). The MRD is intended to aid the
Government in identifying current technologies that have been
developed by industry. Following the MRD, the Government plans to
initiate a new full-and-open contracting effort for a System
Development and Demonstration (SDD) Phase contract. Following these
phases, the government anticipates releasing proposals for
production contracts.
The Mission Payload Module -- Non-Lethal Weapons System
(MPM-NLWS) will provide the warfighter a non-lethal
counter-personnel capability. The system will support missions
requiring crowd control, and will deny, defend and control area
access while allowing the warfighter to engage threats at standoff
ranges and protect non-combatants.
Commenting on the award Peter D. Faulkner Metal Storm Inc.
General Manager, said, "Metal Storm is pleased to be participating
in the MPM program and are looking forward to the Market Research
Demonstration. We believe the benefits of our technology when
combined with that of our teaming partner Defense Technology, part
of the BAE Systems Products Group, will provide significant
improvements in range, area coverage and in particular, volume of
fire over existing non-lethal weapon systems."
The MPM-NLWS will be mounted onto the High Mobility Multipurpose
Wheeled Vehicle (HMMWV). Follow-on spirals will ultimately be
integrated on other tactical vehicle platforms, unmanned ground
vehicles, and Navy surface water vessels through an evolutionary
acquisition process. Effects such as obscuration and illumination
will be added to address future and emerging capability gaps. The
weapons platform will be capable of providing greater range, area
coverage, precision, and scalability than current NLW systems.
Notes:
Metal Storm's Australian Stock Exchange trading code: MST
Metal Storm's NASDAQ Small Cap ticker symbol: MTSX
About Metal Storm
Metal Storm Incorporated is an engineering services company,
licensed to utilize Metal Storm Limited Stacked Projectile
Electronic Ballistics Technology within the United States defense
and homeland security markets.
Metal Storm Limited is a multi-national defence technology
company engaged in the development of electronically initiated
ballistics systems using its unique "stacked projectile"
technology. The company is headquartered in Brisbane, Australia and
incorporated in Australia. Metal Storm Limited technology and
products are represented in the USA by Metal Storm Inc., which has
offices in Arlington, Virginia.
Metal Storm is working with government agencies and departments,
as well as industry, to develop a variety of systems utilising the
Metal Storm non-mechanical, electronically fired stacked ammunition
system.
Metal Storm's weapon technology uses computer-controlled
electronic ignition and a system of stacked projectiles, to achieve
a completely non-mechanical gun that is very lightweight and
compact, providing a very high firepower to weight ratio. The Metal
Storm weapons system utilizes multiple barrels mounted together on
one platform which allows varying munitions types to be deployed in
a single, low cost, lightweight weapon system. Firing the weapons
by electronic ignition requires no moving parts, allowing reliable
long term unattended weapon operation.
Safe Harbour
Certain statements made herein that use the words "estimate,"
"project," "intend," "expect," "believe" and similar expressions
are intended to identify forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve known and unknown risks
and uncertainties which could cause the actual results, performance
or achievements of the company to be materially different from
those which may be expressed or implied by such statements,
including, among others, risks or uncertainties associated with the
development of the company's technology, the ability of the company
to meet its financial requirements, the ability of the company to
protect its proprietary technology, potential limitations on the
company's technology, the market for the company's products,
government regulation in Australia and the US, changes in tax and
other laws, changes in competition and the loss of key personnel.
For additional information regarding these and other risks and
uncertainties associated with the company's business, reference is
made to the company's reports filed from time to time with the
Securities and Exchange Commission, including the company's Form
20-F.
Company Contact: Australia Dr Lee Finniear Chief Executive
Officer Metal Storm Limited Ph: +61 7 3123 4700 USA Peter Faulkner
General Manager Metal Storm Inc. Ph: +1 703 248 8218
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