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Liquidmetal® Technologies Awarded New $3.0 Million Contract To
Develop Armor-Piercing Ammunition for Ground Attack Jets
- Funding Provided Under $5.25 Million 2003 Defense Appropriations Allocation -
TAMPA, Fla., Aug.11, 2003 -- Liquidmetal® Technologies(NASDAQ:LQMT)
today announced that it has signed a new, $3.0 million research and development contract with the U.S. Army for continuing development of high-performance Liquidmetal® alloy composite Kinetic Energy Penetrator (KEP) rods for use in armor-piercing ammunition systems.
The 16-month contract will be directed to development of PGU-14B KEPs for the Air Force's tank-killing A-10 "Warthog" ground attack jet. Because the Liquidmetal-KEP technology would also be beneficial to the Air Force and Navy, the Army is managing the development efforts as a joint service program. The new contract follows a successful first-year, $2 million program dedicated to initial ballistic testing and the design of equipment and processes required to produce batch sizes of Liquidmetal alloy composite KEPS.
Liquidmetal Technologies has selected Alliant Techsystems (ATK) as a subcontractor to conduct full-scale systems integration and ballistic testing. ATK is the current prime contractor for the production of PGU-14Bs. The overall goal of the program is to develop higher-performance, environmentally safe KEPs as an alternative to depleted uranium rods currently used by the military.
Liquidmetal alloys possess a unique amorphous atomic structure that combines strength 2-3 times greater than titanium with the ability to be molded into precision parts, similar to plastics. Liquidmetal Technologies is the first company to produce amorphous alloys in commercially viable bulk form, and the alloys are considered a breakthrough in material science.
The Army contract is the second of two contracts awarded to Liquidmetal Technologies in recent weeks under a previously announced, $5.25 million 2003 Defense Appropriations allocation approved last fall for the continuing study of Liquidmetal alloys. On July 1, the Air Force awarded Liquidmetal Technologies an $811,000 corrosion study contract to document the anti-corrosive properties of various Liquidmetal alloy compositions in environments of military interest.
In addition, Liquidmetal Technologies is currently finalizing a Small Business Innovative Research contract with the U.S. Navy to design lightweight fragmentation bombs using Liquidmetal alloys as the primary casing. With this contract in place, Liquidmetal Technologies will be engaged in development programs will all branches of the military as well as the Department of Defense, under the auspices of the Defense Advance Research Projects Agency (DARPA). Product development programs are also underway with several leading defense contractors, including Lockheed Martin, Northrop Grumman and Raytheon.
These defense-related activities are part of a growing list of current and future applications for Liquidmetal alloys. The company is currently manufacturing prototype or production-quantity components for consumer electronics, sporting goods, fine jewelry and medical products with industry leaders including Samsung Electronics, Sony Corporation, HEAD Sport, Rawlings, LVMH and TAG Heuer, Surgical Specialties and DePuy Orthopaedics. In addition, proprietary Liquidmetal® coatings products are used in various industrial applications.
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About Liquidmetal Technologies
Liquidmetal Technologies (www.liquidmetal.com) is the leading developer, manufacturer, and marketer of products made from amorphous alloys. Amorphous alloys are unique materials that are characterized by a random atomic structure, in contrast to the crystalline atomic structure -possessed by ordinary metals and alloys. Bulk Liquidmetal® alloys are two to three times stronger than commonly used titanium alloys, harder than tool steel, and relatively non-corrosive and wear resistant. Bulk Liquidmetal alloys can also be molded into precision net-shaped parts similar to plastics, resulting in intricate and sophisticated engineered designs. Liquidmetal Technologies is the first company to produce amorphous alloys in commercially viable bulk form, enabling significant improvements in products across a wide array of industries. The combination of a super alloy's performance coupled with unique processing advantages positions Liquidmetal alloys for what the company believes will be The Third RevolutionTM in material science.
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