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Technology Stocks : Metal Storm Ltd

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To: Saulamanca who wrote (55)5/20/2004 11:38:31 AM
From: Saulamanca  Read Replies (1) of 75
 
Test Firings Lay Groundwork for Airborne Weapon System
Thursday May 20, 9:48 am ET

ARLINGTON, Va.--(BUSINESS WIRE)--May 20, 2004--Metal Storm Limited (NASDAQ:MTSX and ASX:MST) International ballistics company Metal Storm Limited has completed test firings of its electronic ballistics weapon system from an Unmanned Aerial Vehicle (UAV) in preparation for demonstration to US defense authorities.

The tests, conducted in the US this month, included a firing of inert 40mm grenade rounds in near simultaneous four-shot bursts from two lightweight grenade launchers mounted on a Dragonfly DP-4X Vertical Take Off and Landing (VTOL) UAV developed by Dragonfly Pictures Inc (DPI).

Metal Storm Director of Scientific Innovation, Mr. Mike O'Dwyer said the firings successfully demonstrated the integration of Metal's Storm generic 40mm Ballistics System with the remotely operated UAV.

"These initial tests confirmed the integrity of the airframe, recoil management, fire control and remote operation systems during ground-based firing from the UAV in both tethered and untethered operation under full power," Mr. O'Dwyer said.

"The next step is a set of full in-flight test firings followed by the planned live firing demonstrations to US defense authorities, which we anticipate occurring within the next three months."

"Our ability to provide a remotely controlled multi-shot modular weapon system with selectable rates of fire in a very compact and lightweight configuration that is totally non-mechanical, is unique. We are seeking to develop a system that can equip small to medium size UAV's with a very versatile weapon system that provides effective firepower without compromising the operability of the aircraft." Mr. O'Dwyer said.

DPI Chief Executive Officer, Mr. Michael Piasecki said having the Metal Storm team at DPI's Essington, Pennsylvania complex over recent weeks has enabled us to accelerate our progress.

"Together the two companies have integrated the Metal Storm system on our DP-4X VTOL UAV. The results and accomplishments to date reinforce our commitment to this project, and confirm that Metal Storm offers a genuinely transformational electronic weapon system".

"By combining our technologies we provide small VTOL UAVs with a real offensive capacity. I expect in due course that our new Dragonfly DP-4X UAV will be able to provide running or strafing fire with 40mm high explosive or other rounds.

"We expect the same weapon system will be able to provide vertical downward fire to disrupt Improvised Explosive Devices (IEDs), such as we see daily in Iraq. The company commander will be able to direct the DP-4X to deliver the 40mm, or other calibre weapons, at targets before they threaten his personnel in convoy protection tasks, urban terrain operations and in reconnaissance roles." Mr Piasecki said.

A video clip of the UAV test firing will shortly be available for viewing on the Metal Storm website: www.metalstorm.com

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 US Navy and US Army to develop a variety of systems utilizing the Metal Storm non-mechanical, electronically fired stacked ammunition system.

About Dragonfly Pictures Inc

DPI has pioneered a family of small vertical take-off and landing (VTOL) unmanned helicopters for military, civil and commercial users for twelve years. Originally, the platforms developed by DPI were built to support the special effects industry; now DPI's technology is being applied to Homeland Security roles and Convoy protection applications around the globe. Under Mr. Michael W. Piasecki's leadership, DPI continues a strong tradition of 65+years of helicopter technology development, a legacy that started in 1942 by Mr. Frank N. Piasecki, the father of the Tandem Helicopter still in use today in Afghanistan and IRAQ.

DPI has focused its expertise to rapidly develop products that will directly assist small unit commanders which confront ambushes, land mines and Improvised Explosive Devices (IED's) on a daily basis. These products are by design: multi-mission flexible, HMMWV compatible, and substantially reduce operator work load and support personnel.

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