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- A key milestone in digitization of the modern army
- KWESST extending its ATAK integration capability to other customers and OEMs
KWESST Micro Systems Inc. (TSXV: KWE) (OTCQB: KWEMF) ("KWESST" or "the Company") today announced that it has successfully achieved an important milestone under the contract announced in December 2020 for a key military customer.
This milestone entailed the integration of the Company's TASCS (Tactical Awareness Situational Control System) IFM (Integrated Fires Module) for the 81mm Mortar Fire Control System into the Android Tactical Assault Kit (ATAK), the preeminent battlefield management system for NATO countries . As a result, the Company will now proceed to the next phase of the contract, involving live-fire trials at various U.S. military bases.
"TASCS is designed to integrate into any battlefield management application," said Jeff MacLeod, KWESST Found, President and CEO. "However, ATAK is the foremost and ubiquitous NATO battlefield management application, therefore we view the successful integration of TASCS applications into ATAK as key to widespread adoption of our TASCS system, and are pleased to have achieved this milestone event."
The TASCS IFM Fire Control System for the 81mm mortar is a world-first in digitizing the function of a mortar team, from the identification of the target to the aiming of the mortar. It reduces the time it takes to engage adversaries and greatly increases the precision of mortar fire. TASCS has similar application across many other firing platforms beyond just the 81mm mortar, with a world market estimated by the Company at several hundred million dollars.
The Company added that its ability to use its TASCS system as a toolset to integrate tactical applications into ATAK has attracted attention from other military customers and OEMs. "We're discovering that many potential customers require ATAK integration help," added Jeff MacLeod. "We have already begun assisting some, and we are currently processing about a dozen other inbound enquiries for assistance, both domestic and international. It appears that this has the potential to become a separate business line unto itself, with recurring revenue."
About KWESST
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 Awareness 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 and on the U.S. OTCQB under the symbol KWEMF.
Contact: Jason Frame, Investor Relations: frame@kwesst.com
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/77335
