Arotech's Battery and Power Systems Division Receives Follow-on Micro Air Vehicle - MAV - Contract from Israeli Defense Agency.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Arotech Corporation (NasdaqNM: ARTX) announced today that its Electric Fuel subsidiary has received a follow-on contract from an Israeli security agency for its new generation zinc-air batteries Zinc-air batteries, also called “zinc-air fuel cells,“ are non-rechargeable electro-chemical batteries powered by the oxidation of zinc with oxygen from the air. These batteries have very high energy densities and are relatively inexpensive to produce. . Under the terms of the contract, Arotech's Electric Fuel subsidiary will continue to develop prototype zinc-air cells to achieve extended flight times for Micro Aerial Vehicles (MAVs). Electric Fuel's cutting-edge zinc-air cells for MAVs are high-power, lightweight versions of its most advanced zinc-air cells. The Company has already demonstrated that its zinc air A battery technology that provides more charge per pound or size than nickel cadmium or nickel metal hydride and does not suffer from the memory effect. It uses a carbon membrane that absorbs oxygen, a zinc plate and potassium hydroxide as the electrolyte. batteries extend the mission duration of these reconnaissance aircraft. "The unmanned vehicle market is rapidly growing, triggering the growing demand for advanced power sources," said Robert S. Ehrlich, Arotech Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "This follow on contract, together with other recently announced contracts for our 4th generation zinc air cells, demonstrates our leadership in this technology and in our ability to increase mission times for these vehicles." Arotech's Battery and Power Systems Division is a leading provider of zinc-air and lithium batteries and chargers for defense and security products and other military applications. Arotech develops and produces high power zinc-air batteries and is believed to be the sole supplier of this technology to the US military. In addition, Arotech develops high-end primary and secondary batteries and associated chargers and has vast experience in working with government agencies, the military and large corporations. The division also pioneers advancements in zinc-air technology for electric vehicles. The Battery and Power Systems Division consists of Electric Fuel Battery Corporation, Electric Fuel Ltd., and Epsilor Electronic Industries Ltd. About Arotech Corporation Arotech Corporation is a leading provider of quality defense and security products for the military, law enforcement and homeland security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States markets, including multimedia interactive simulators/trainers, lightweight armoring and advanced zinc-air and lithium batteries and chargers. Arotech operates through three major business divisions: Armoring, Simulation and Security and Batteries and Power Systems. Arotech is incorporated in Delaware, with corporate offices in Auburn, Alabama Auburn is a city in Lee County, Alabama. It is the largest city in eastern Alabama with a 2006 population of 51,906 (according to the U.S. Census estimates).[1] and research, development and production subsidiaries in Alabama, Colorado, Michigan, California and Israel. Except for the historical information herein, the matters discussed in this news release include forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements, as they are subject to various risks and uncertainties that may cause actual results to vary significantly. These risks and uncertainties include, but are not limited to, risks relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc : product and technology development; the uncertainty of the market for Arotech's products; changing economic conditions; delay, cancellation or non-renewal, in whole or in part, of contracts or of purchase orders; and other risk factors detailed in Arotech's most recent Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended December 31, 2004, and other filings with the Securities and Exchange Commission. Arotech assumes no obligation to update the information in this release. Reference to the Company's website above does not constitute incorporation of any of the information thereon into this press release. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion