Frequency Electronics, Inc. Announces Award of a Contract From the Office of Naval Research for the Development of a Mercury Ion Atomic Clock
January 11 2022 - 9:00AM
Frequency Electronics, Inc. (“FEI” or the “Company”) (NASDAQ-FEIM)
today announces the award of a contract from the Office of Naval
Research (ONR) to develop a Mercury Ion atomic clock for
application to various US Naval platforms. Contract value, if all
options are exercised, is approximately $20.2M. The base period of
the contract is two years with two additional options of two years
and one year respectively.
FEI CEO Stan Sloane commented, “We are extremely
pleased to announce this award and an expanding relationship with
ONR on advanced technology atomic clock development. The baseline
technology of the Mercury Ion atomic clock was first developed by a
Jet Propulsion laboratory (JPL) and California Institute of
Technology team, under the DARPA ACES program. FEI will work with
its industrial partners and other ONR-funded government
organizations to continue that development and deliver
pre-production prototypes under the contract. We are looking
forward to working with ONR and our other partners to advance this
exciting and groundbreaking technology.”
About Frequency
ElectronicsFrequency Electronics, Inc. is a world leader
in the design, development and manufacture of high precision
timing, frequency generation and RF control products for space and
terrestrial applications. Frequency’s products are used in
satellite payloads and in other commercial, government and military
systems including C4ISR and electronic warfare, missiles, UAVs,
aircraft, GPS, secure communications, energy exploration and
wireline and wireless networks. Frequency has received over 100
awards of excellence for achievements in providing high performance
electronic assemblies for over 150 space and DOD programs. The
Company invests significant resources in research and development
to expand its capabilities and markets.
Frequency’s Mission Statement: “Our mission is
to provide precision time and low phase noise frequency generation
systems from 1 Hz to 50 GHz, for space and other challenging
environments.”
Subsidiaries and Affiliates: FEI-Zyfer provides
GPS and secure timing ("SAASM") capabilities for critical military
and commercial applications; FEI-Elcom Tech provides Electronic
Warfare (“EW”) sub-systems and state-of-the-art RF microwave
products. Additional information is available on the Company’s
website: www.frequencyelectronics.com
Contact information: Dr. Stanton Sloane, President & Chief
Executive Officer; Steven Bernstein, Chief Financial
Officer; TELEPHONE: (516) 794-4500 ext.5000
WEBSITE: www.freqelec.com
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