KWESST Micro Systems Inc. (TSXV: KWE) ("KWESST" or "the Company") today announced the completion of the second phase of three deliverables under a contract to support a U.S. military customer, featuring the Company's signature Tactical Awareness and Situational Control System (TASCS) and its Integrated Fires Module (IFM).
On September 22nd, 2020, the Company announced the completion of the first deliverable to provide real-time situational awareness and targeting information from a drone to ground forces and their mortar weapons systems. The second deliverable, just completed, incorporated customer feedback from the first phase to optimize TASCS operating procedures.
The results of phase one and two, now being summarized into a phase three report, confirm that the TASCS IFM achieves greater accuracy and faster response times on indirect fire systems like mortars, improving soldier survivability and operational effectiveness.
"We're encouraged that the results and user feedback from these live-fire exercises have further increased customer confidence in the TASCS system," said Jeff MacLeod, KWESST Founder and CEO, who added, "We're pleased at the rapid pace as well as the outcome of these exercises, especially with such a key U.S. military customer, who has now requested a proposal from the Company for a next phase of expanded exercises to start in early 2021."
As stated in the Company's announcement of September 22nd 2020, contracted exercises like this with military customers are an important phase in the process towards potential introduction into service. The Company also noted at the time that at least two other NATO military customers have similar requirements, with demonstration contracts for the TASCS IFM system currently under consideration.
KWESST develops and commercializes high-value ultra-miniaturized technology applications that make a critical difference to the safety and operational effectiveness of personnel in the defence and security industries. The company's current portfolio of unique proprietary offerings include: its signature TASCSTM (Tactical and Situational Control System) for real-time awareness and targeting information from any source (including drones) streamed directly to users' smart devices and weapons; the autonomous GreyGhostTM soldier-portable micro drone missile system that defends against small hostile drones including swarms using high-speed kinetic impact; a Ground Laser Defence system to counter the emerging threat of weaponized lasers against personnel; and, the PhantomTMelectronic battlefield decoy system to mask the electromagnetic signature of friendly forces with decoy signatures at false locations to deceive and confuse adversaries. All systems can operate stand-alone or integrate seamlessly with OEM products and battlefield management systems including Frontline, Edge, Killswitch and ATAK (Android Tactical Assault Kit) among others. KWESST also has developmental "smart ordnance" projects including its "Shot Counter" system, which records the number and type of rounds fired, for optimized firearms maintenance and performance. The Company is headquartered in Ottawa, Canada, with representative offices in Washington, DC, London, UK and Abu Dhabi, UAE. KWESST trades on the TSX Venture Exchange under the symbol KWE.
For more information please visit https://kwesst.com/
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the timing for the commencement of trading and the plans and operations of KWESST after giving effect to the Qualifying Transaction. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. KWESST disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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