Intevac Photonics Announces New $7 Million Development Program
March 23 2021 - 9:00AM
Business Wire
Intevac, Inc. (Nasdaq: IVAC) announced today that it has
received a $1.8 million development contract award from the Joint
Directed Energy Transition Office (DE JTO) in Albuquerque New
Mexico, representing the funding for year one of a projected
three-year, $7 million development effort. In this program, Intevac
Photonics will develop a Gated SWIR Sensor for High Energy Laser
(HEL) 2D Fine Tracking and Adaptive Optics system applications,
building on the Company’s experience in its fielded LIVAR® camera
technology and legacy Fine Tracking / Adaptive Optics sensor
technology first used on the Airborne Laser (ABL) program.
“The Gated SWIR camera developed under this program represents a
return of Intevac to the rapidly-growing Directed Energy (DE)
weapons systems market. DE systems are expected to become a
critical component of our military’s advanced weapons systems and
represent a significant future market opportunity for Intevac,”
commented Timothy Justyn, executive vice president and general
manager of Intevac Photonics. “This contract award demonstrates the
U.S. military’s continued commitment to Intevac’s SWIR LIVAR®
technology for new systems applications,” added Wendell Blonigan,
president and chief executive officer of Intevac.
Intevac's digital night-vision sensors, based on its patented
Electron Bombarded Active Pixel Sensor (EBAPS®) technology, provide
state-of-the-art capability to the most advanced avionic fighting
platforms in the U.S. Department of Defense inventory.
About Intevac
Intevac was founded in 1991 and has two businesses: Thin-film
Equipment and Photonics.
In our Thin-film Equipment business, we are a leader in the
design and development of high-productivity, thin-film processing
systems. Our production-proven platforms are designed for
high-volume manufacturing of substrates with precise thin film
properties, such as the hard drive media, display cover panel, and
solar photovoltaic markets we serve currently.
In our Photonics business, we are a recognized leading developer
of advanced high-sensitivity digital sensors, cameras and systems
that primarily serve the defense industry. We are the provider of
integrated digital imaging systems for most U.S. military night
vision programs.
For more information call 408-986-9888, or visit the Company's
website at www.intevac.com.
Forward-Looking Statements
This press release includes statements that constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995 (the “Reform Act”).
Intevac claims the protection of the safe-harbor for
forward-looking statements contained in the Reform Act. These
forward-looking statements are often characterized by the terms
“may,” “believes,” “projects,” “expects,” or “anticipates,” and do
not reflect historical facts. Specific forward-looking statements
contained in this press release include, but are not limited to;
the timing and size of the development contract. The
forward-looking statements contained herein involve risks and
uncertainties that could cause actual results to differ materially
from the company’s expectations. These risks include, but are not
limited to: the failure to meet planned shipment dates, which could
have a material impact on our business, our financial results, and
the company's stock price. These risks and other factors are
detailed in the Company’s periodic filings with the U.S. Securities
and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20210323005379/en/
James Moniz Chief Financial Officer (408) 986-9888
Claire McAdams Investor Relations (530) 265-9899
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