ARMY RESEARCH OFFICE SELECTS METAL STORM TECHNOLOGY FOR U.S. DEPARTMENT
OF DEFENSE SMALL BUSINESS INNOVATION RESEARCH PROJECT
Project Represents Third Small Business Innovation Research Program for
Metal Storm
ARLINGTON VA, 16 December, 2002: Metal Storm Limited (ASX Code: MST
and NASDAQ ticker symbol: MTSX), announced today that the U.S. Army
Research Office (ARO) has made a Small Business Innovation Research (SBIR)
Phase 1 award to Metal Storm’s partner, Schappell Automation
Corporation, Inc. For Metal Storm, this award marks the third SBIR program
success in the current round of awards. The basis for the awards is to
employ the company’s technology as the ballistic component of US Department
of Defense systems.
The primary objective of this SBIR program is to develop the capability
of Metal Storm’s electronic ballistic technology to deliver special
projectiles from a Metal Storm pod-system. The system has several options
including mounting on robotic vehicles or as a hand held weapon. More
and more, US and allied forces are finding themselves in situations
other than wartime conflict, such as peacekeeping operations, homeland
security or other anti-terrorist operations. These forces need a
capability that will reduce or eliminate this new threat but in a manner that
limits injury when used as a first warning; prior to having to apply
lethal force. Special Metal Storm projectiles will be developed in
conjunction with the unique Metal Storm weapons delivery system to provide
this less-than-deadly force capability.
Mike O’Dwyer, Metal Storm’s Chief Executive Officer and President said,
“In the last six weeks Metal Storm has received three SBIR contract
awards for different applications of its technology. The previously
announced Missile Defense Agency awards include development of a capability
for a new defence system against land and space-launched missile
attack. This new ARO award takes advantage of Metal Storm technology in a
quite unique manner compared to previous Metal Storm technology
applications. For example, this product can be mounted on a robot to deliver
special projectiles for use by US and allied forces in current style
military operations associated with less than all out conflict.”
“As US and allied forces are asked to respond to these new and
challenging situations around the world with varying degrees of force, Metal
Storm technology can address these requirements. That’s very good for
our future business as we move this identified defence requirement from a
technology concept and position it for commercial production.”
Schappell Automation Corporation (SAC) has extensive experience in
robotics and automated weapon systems. The company has been responsible
for a series of remotely controlled and autonomous land vehicle programs
including the design, building and testing of DARPA’s Autonomous Land
Vehicle as well as a number of other key programs.
The Department of Defense (DoD) SBIR program, funds early stage R&D
projects which serve defence needs and have the potential for
commercialisation in private sector or military markets. SBIR proposals pass
through three phases. Phase I is a six-month commercial feasibility concept
stage. Success at this level can lead to an invitation to participate
in a Phase II award of up to $750,000 over two years to develop the
proposal to prototype stage. Phase III requires private sector funding to
take the technology to commercialisation. In addition, the SBIR
program provides for private funding into Phase II which can fast-track
approvals and attracts up to 4 DoD dollars for every 1 dollar private
contribution, thereby leveraging private sector investment.
www:metalstorm.com
===============================================
**About Army Research Office**
Visit: aro.army.mil
**About SBIRs**
Visit: acq.osd.mil
**About SAC**
SAC have extensive experience in dealing with unique weapons systems.
This dates back to early shipboard AAA weapons systems, DARPA's Smart
Weapons Program, and currently, applications of the Metal Storm
technology as a result of joint activities with DARPA, SAIC and Metal Storm,
Inc. SAC have also developed robotic vehicles as potential weapons
platforms. SAC personnel have also been responsible for the development of
targeting systems, weapons stabilisation platforms, area correlation
systems, as well as target ranging and imaging systems for reconnaissance
and target acquisition and tracking.
**About Metal Storm**
Metal Storm Limited is a research and development company based in
Brisbane, Australia. The Company is capturing attention from defence
organisations worldwide with its revolutionary 100% electronic ballistics
technology, which has no known conventional equivalent. Metal Storm
currently has approximately US$50 million in research and development
funding in place to develop its technology from leading government
defence-related agencies in Australia and the United States. Additionally, the
company is well positioned to support the US government's more urgent
homeland defence needs. Recently, the US Department of Defense has
accelerated the programs under development as it strengthens its
counter-terrorism capabilities.
**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 U.S., 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.
============================================
Further information:
COMPANY ENQUIRIES:
United States:
Chuck Vehlow - Chief Corporate Officer - Metal Storm, Inc. Ph: 703 248
8218
Australia:
Peter Wetzig - Company Secretary/General Manager - Commercial Ph: #61
(0) 7 3221 9733
INVESTOR ENQUIRIES:
United States:
Jody Burfening/Kristine Hong - Lippert/Heilshorn & Assoc. Ph: 212 838
3777
Australia:
Frank Sufferini - Orient Capital Pty Ltd Ph: #61 (0) 2 9964 0200
MEDIA ENQUIRIES:
United States:
Chenoa Taitt - Lippert/Heilshorn & Assoc. Ph: 212 838 3777
Australia:
John Bayly - Bayly Willey Holt Ph: #61 (0) 7 3368 2355
------------------------------------------------------- |
