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PRESS RELEASE: Metal Storm to Weaponize Unmanned Aerial Vehicle
2004-02-25 11:04 (New York)
for Demonstration in the U.S.
ARLINGTON, Va.--(BUSINESS WIRE)--Feb. 25, 2004--Metal Storm Limited (Nasdaq
Small Cap: MTSX and ASX: MST) announced today that it is planning to live-fire
its 40mm electronic-weapon system on an Unmanned Aerial Vehicle (UAV)
helicopter in the U.S. shortly. Preparation and fabrication are well advanced
and a UAV airframe has already been shipped into Australia to commence the
weapon/UAV integration process.
The live firing, anticipated to be held in the U.S. during the second quarter
of 2004, is the key deliverable under a Memorandum of Understanding (MOU) that
Metal Storm signed with Dragonfly Pictures Inc (DPI) on February 23. Under the
MOU the company's electronic-weapon technology will be integrated with DPI's
new Dragonfly DP-4X UAV helicopter for these live firings.
The Dragonfly DP-4X is a man-portable, remotely controlled, Vertical Take-Off
and Landing (VTOL) UAV that is approximately 85.5 inches long, 32 inches wide,
44 inches high, has a rotor span of 118.5 inches, and weighs approximately 140
pounds. It is designed to carry imaging, communications and environmental
sensors for aerial intelligence gathering and reconnaissance.
Dragonfly Pictures Inc. chief executive officer, Mr. Michael Piasecki, said
the integration of Metal Storm's unique, lightweight, electronic, multi-shot
weapon system complemented DPI's 'systems' approach in preparing the new
Dragonfly DP-4X as a weaponized UAV helicopter.
"Metal Storm offers a genuinely transformational electronic-weapon system
that will allow us to extend the application of UAVs beyond just information
gathering," Mr. Piasecki said.
"Our affordable and versatile Dragonfly DP-4X is being prepared for riskier
and more offensive missions to combat many of the new threats that defy
traditional battlefield tactics," he said.
Metal Storm director of scientific innovation, Mr. Mike O'Dwyer, said DPI's
UAV helicopters were an excellent platform for demonstrating Metal Storm's
technology to the U.S. defense industry and military decision-makers because
they have already been used in frontline operational locations.
"Currently, small to medium UAV helicopters and airplanes are restricted to
the surveillance role as they have no real offensive capability," Mr. O'Dwyer
said.
"This project provides us with an ideal means of showcasing the versatility
of Metal Storm's electronic-weapon systems in the expanding UAV market, which
is expected to grow to $10.5 billion in the next decade," he said.
"Integrating Metal Storm's electronic-weapon system with small, lightweight
UAV helicopters, will enable them, for the first time, to undertake small-scale
strikes to support ground troops by day or night, escort convoys, clear roads
and retaliate against mobile, man-launched ordnance such as those used in Iraq
recently," said Mr. O'Dwyer.
Metal Storm's chief executive officer, Mr. Charles Vehlow, said armed UAVs
were seen as a vital and emerging defense requirement that could open a new and
major market for Metal Storm technology.
"An extra $1 billion in funding for UAV programs was allocated in the
2003/2004 U.S. defense budget to rapidly progress the development of this
capability," Mr. Vehlow said.
"Armed UAVs offer affordable support for manned military systems at a reduced
cost and without unnecessarily risking soldiers' lives," he said.
"This project allows Metal Storm to support DPI demonstrations for enhanced
UAV capabilities now under consideration for the U.S. Army's Future Combat
Systems (FCS) program.
"The MOU with DPI resulted from one of many U.S.-defense-industry inquiries
and project opportunities that have arisen from the successful test-firing of
our 24-barrel 40mm Grenade Pod in October of last year," said Mr. Vehlow.
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 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 (IEDs) on a daily basis. These products are by design:
multi-mission flexible, HMMWV compatible, and substantially reduce operator
work load and support personnel.
www.dragonflypictures.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, and the defense industry to
develop a variety of systems utilizing the Metal Storm non-mechanical,
electronically fired stacked ammunition system.
www.metalstorm.com
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.
CONTACT: Metal Storm Inc.
Charles Vehlow, 703-248-8218
ms@metalstorm.com
or
Investor Contact:
Lippert Heilshorn & Assoc
Jody Burfening/David Waldman, 212-838-3777
dwaldman@lhai.com
or
Media Contact:
Lippert Heilshorn & Assoc
Chenoa Taitt, 212-838-3777
ctaitt@lhai.com
KEYWORD: VIRGINIA DISTRICT OF COLUMBIA AUSTRALIA INTERNATIONAL ASIA PACIFIC
INDUSTRY KEYWORD: MANUFACTURING GOVERNMENT AEROSPACE/DEFENSE
SOURCE: Metal Storm Inc.
(END) Dow Jones Newswires
02-25-04 1104ET- - 11 04 AM EST 02-25-04 |
