September 5, 2016
Hanahan, South Carolina – August 26, 2016 – The US General Services Administration (GSA) awarded UEC Electronics a five year contract for Alternative and Renewable Sustainable Energy Solutions on Schedule 56. The estimated value assigned to the award by the GSA is $2.8 million over five years.
This initial award is for the Ground Renewable Expeditionary Energy Network System (GREENS). GREENS is a 1000W generator that uses solar rather than gasoline or diesel fuel. GREENS collects solar energy, converts that energy to useable power, and stores it on high density batteries. The system delivers power 24 hours per day and has been used extensively by the US Marine Corps both domestically and internationally.
UEC Electronics was originally awarded an $11M contract from the Marine Corps in Quantico, Virginia for 270 GREENS in 2011. After completing this contract, a second contract valued at $40M was awarded in 2012. This latest GSA award is a contracting vehicle which will permit all services in the Department of Defense access to this technology for the next five years. In additions to GREENS, UEC Electronics has a broad range of power solutions from 300W to 15kW that will be added to this contract in the coming months.
Company Background Information: Founded in 1995, UEC Electronics is subsidiary of Arotech’s (Nasdaq ARTX) Power Systems Division. Arotech Corporation is a defense and security products and services company, engaged in two business areas: interactive simulation for military, law enforcement and commercial markets; and power systems and batteries for the military, commercial and medical markets. Arotech operates through two major business divisions: Training and Simulation, and Power Systems. The Arotech Power Systems Division develops and provides sophisticated portable energy solutions designed to complex and demanding customer specifications. These solutions are used for diverse applications from vehicle power, clean energy power generation, power distribution and management, military field equipment to life-vest lights, satellite radios and unmanned vehicles. Arotech’s solutions are produced primarily for military, aerospace and industrial customers.
Contact Information: Nancy Straight, firstname.lastname@example.org; 5914 Howard Street, Hanahan, SC; Ph 843-552-8682
Except for the historical information herein, the matters discussed in this release include forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, and are subject to various risks and uncertainties that may cause actual results to vary materially. These risks and uncertainties are detailed in Arotech’s most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2015, and other filings with the Securities and Exchange Commission.