Metal Storm Granted Three Important New Patents in the US
ARLINGTON, Va., Apr 27, 2004 (BUSINESS WIRE) -- Metal Storm Limited (MTSX) (ASX: MST) announced today that three new technology patents have passed the rigorous US examination procedures and have been granted US patent status.
The securing of patents in the US provides Metal Storm with exclusive control of the unique technology contained in each patent.
The three patents include technology covering: -- Independently controlled barrels within a multi barrel, transportable pod system. This enables each barrel to have a specific individual target such as zones in a land mine area or as part of a fire fighting system. The patent covers off both commercial and military applications. -- An alternative projectile sealing system for single and multi barrel use. -- Use of Metal Storm technology in seismic exploration through the use of a single barrel or pod system to create underground shockwaves at required frequencies. The technology is able to be mounted and used from vehicles and aircraft.
Metal Storm's Chief Executive Officer, Mr Charles Vehlow said, these patents, particularly the first two, relate directly to the company's current R&D effort to commercialize or license products into the US military and civil markets. These three patents add to the 12 already granted to Metal Storm in the US with more pending in relation to the company's technology.
"The patents form part of an expanding portfolio of patents which secure our technology and our commercial future. I expect equivalent patents to be granted in a number of other countries shortly," said Mr Vehlow.
About Metal Storm
Metal Storm Limited is a defense technology company, employing 60 staff, headquartered in Brisbane, Australia and incorporated in the US, with offices in Washington DC and a defense engineering capability located in Seattle, operating as ProCam Machine LLC. The Company has invented 100% electronic ballistics technology that has no known conventional equivalent. Metal Storm is working with government agencies and departments, including the National Institute of Justice (US), the Missile Defense Agency (US), the US Navy and US Army to develop a variety of systems utilizing the Metal Storm non-mechanical, electronically fired stacked ammunition system.
Safe Harbor
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.
SOURCE: Metal Storm, Inc.
Metal Storm, Inc.Charles Vehlow, CEO, 703-248-8218ms@metalstorm.comorInvestor Contact:Lippert Heilshorn & Assoc.Jody Burfening/David Waldman, 212-838-3777jburfening@lhai.comorMedia Contact:Lippert Heilshorn & Assoc.Chenoa Taitt, 212-838-3777ctaitt@lhai.com |
