ANN ARBOR, Mich., April 20, 2016 /PRNewswire/ -- Arotech
Corporation (Nasdaq GM: ARTX) today announced that its U.S.
Power Systems Division, UEC Electronics, has recently received a
$2.6 million contract from the Marine
Corps to design, develop and deliver four MEHPS systems.
MEHPS portable solutions combine battery technology with
existing generator and solar solutions to power forward deployed
units. The MEHPS product harnesses solar power and intelligently
reduces run-time on generators, reducing fuel consumption and
extending generator life.
"The Department of Defense continues to advance initiatives that
will increase energy efficiency and enable our forces to perform
missions, while acknowledging energy as a potential vulnerability,"
said Steven Esses, President and CEO
of Arotech. "Demand for renewable and hybrid energy power
generation systems continues to grow and Arotech is well positioned
to capitalize on a significant opportunity. This contract award is
a testament to our team and the performance of our product. We are
excited about this opportunity and are optimistic that this award
could lead to additional orders in the future."
UEC Electronics previously designed and developed a smaller
hybrid power solution for the Marine Corps. The 1kW Ground
Renewable Expeditionary Energy Network System (GREENS) is now being
produced by UEC under a $40.8 million
IDIQ contract.
This latest MEHPS award is for a scalable (up to 15kW) design
for use at forward operating bases and is a significant part of the
DoD's strategy to reduce fuel consumption by 25% prior to 2025. The
Marine Corp's roadmap calls for MEHPS production beginning in
2018.
International customers are watching the MEHPS program as
well. MEHPS was one of four "pathfinder" projects announced
by Prime Minister Modi (India) and
President Obama in January 2015 under
the Defense Technology and Trade Initiative.
About Arotech's Power Systems Division
Arotech's Power
Systems Division is a leading provider of primary and rechargeable
batteries and chargers for defense and other military applications
and of electronic components and subsystems primarily for military,
aerospace and industrial customers. Arotech develops and produces
high power zinc-air batteries and is believed to be the sole
supplier of this technology to the U.S. military. In addition,
Arotech develops high-end primary and secondary batteries and
associated chargers, as well as (i) hybrid power generation
systems, (ii) smart power subsystems for military vehicles and
dismounted applications, and (iii) aircraft and missile systems
support for cutting-edge weapons and communications technologies,
and has vast experience in working with government agencies, the
military and large corporations. The Power Systems Division
consists of Electric Fuel Battery Corporation (www.efbpower.com),
Epsilor-Electric Fuel Ltd. (www.epsilor.com;
www.electric-fuel.com), and UEC Electronics, LLC
(www.uec-electronics.com).
About Arotech Corporation
Arotech Corporation is a leading provider of quality defense and
security products for the military, law enforcement and homeland
security markets, including multimedia interactive
simulators/trainers and advanced zinc-air and lithium batteries and
chargers. Arotech operates two major business divisions: Training
and Simulation, and Power Systems.
Arotech is incorporated in Delaware, with corporate offices in
Ann Arbor, Michigan, and research,
development and production subsidiaries in Michigan, South
Carolina, and Israel. For
more information on Arotech, please visit Arotech's website at
www.arotech.com.
U.S. Power Systems Division Contact:
Nancy Straight
Business Development Manager
843-552-8682
nancystraight@uec-electronics.com
Arotech Investor Relations Contacts:
Brett Maas / Rob Fink
Hayden IR
(646) 536.7331 / (646) 415.8972
ARTX@haydenir.com
Except for the historical information herein, the matters
discussed in this news release include forward-looking statements,
as defined in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements reflect management's current knowledge,
assumptions, judgment and expectations regarding future performance
or events. Although management believes that the expectations
reflected in such statements are reasonable, 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 materially. These risks and uncertainties
include, but are not limited to, risks relating to: 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 (including as a result of budgetary cuts resulting from
automatic sequestration under the Budget Control Act of 2011); and
other risk factors detailed in Arotech's most recent Annual Report
on Form 10-K for the fiscal year ended December 31, 2015 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.
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SOURCE Arotech Corporation