Applied Energetics Wins $10.4 Million Marine Corps Contract
January 11, 2010 (FinancialWire) — Applied Energetics, Inc., (NASDAQ: AERG) said it has been awarded a $10.4 million contract from the U.S. Marine Corps.
According to Applied, the contract funds will support field operational support for deployed systems, training of U.S. Marines, procurement of additional systems, development of improvements to allow installation of the system on additional Marine Corps and U.S. Army vehicles, and an engineering package to facilitate future transition of the system to Low Rate Initial Production . Due to the sensitivity of the effort, the Customer has requested that no additional details regarding this contract be publicly disclosed.
The contract period of performance is 12 months.
Arizona-based Applied Energetics specializes in development and manufacture of advanced lasers, high voltage electronics, advanced optical systems, and integrated guided energy systems for defense, aerospace, industrial, and scientific customers worldwide.
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