Follow Us on StockTwits

Arotech Gets $41 Million Follow-on Contract for U.S. Army’s Virtual Clearance Training Suite

Posted by on April 3, 2017 7:42 AM
Tags: , , , , , ,
Categories: Stocks

April 3, 2017: FAAC Incorporated, a part of Arotech Corporation’s Training and Simulation Division, announced that it has received a sole source follow-on contract to support the U.S. Army’s Virtual Clearance Training Suite (VCTS) program. Managed by U.S. Army Program Executive Office for Simulation, Training and Instrumentation (PEO STRI) and contracted from Army Contracting Command – Orlando, the award is valued at up to $41.1 million with a period of performance of five years. The follow-on effort envisions three phases, each providing a block upgrade of capabilities to the fielded VCTS systems. The first phase is funded at $5.7 million, with the other phases awarded as option contract line items.

VCTS has been fielded to 28 training installations and operational units. VCTS provides training for critical vehicle operator and crew tasks that can be repetitively trained in a simulator and that are considered too time consuming, resource constrained, or dangerous to be conducted on actual equipment. This follow-on effort will add new training capabilities to VCTS and improve the system’s realism – enhancing the clearance operations training it provides and insuring VCTS reflects the Army’s route clearance team’s most current mission and equipment.

March 20, 2017: Arotech Corp announced that it has received a sole source $9.5M indefinite-delivery/indefinite-quantity award from the U.S. Air Force. The scope covers updates to F-16 Common Weapon Engagement Zones based upon FAAC’s Zone Acquisition Process (ZAP) technology. The contract period of performance is through March 2022. Two task orders were issued upon award valued at 2.32 million.

March 06, 2017: Arotech Corporation announced that its U.S. Power Systems Division, UEC Electronics, received contract awards from both government and commercial customers totaling $8.3 million over the last three weeks.

In one of the recent awards, UEC has been funded $3.4 million to work with US Army CERDEC on an Energy Storage System (ESS) for Tactical Microgrids. Building on their experience in the design of hybrid power systems for military applications, the ESS will utilize both Lithium-Ion ultracapacitors and Lithium-Ion battery technologies with intelligent control to enable the microgrid to handle high transient power spikes and to allow time for generators to turn on when new loads enter the grid, thereby decreasing the need for spinning reserve (generators running below capacity and at less than peak efficiency). This hybrid power system has broad applications that will allow the Army to keep pace with increasing power and energy demands and will lessen the logistics demand for fuel-based power sources.

January 7, 2017: Arotech’s has done a breakout as forward EPS guidance was raised 300% to 8 cents from 2 cents over the last 60 days.

Arotech Stock Chart

Arotech Corporation is a leading provider of quality defense and security products for the military, law enforcement and homeland security markets, including multimedia interactive simulators/trainers and advanced zinc-air and lithium batteries and chargers.