Intevac Photonics Announces Two New Development Awards in Support of IVAS
June 23 2021 - 9:00AM
Business Wire
Intevac, Inc. (Nasdaq: IVAC) announced today that it has
received two additional Phase 1 development program awards in
Photonics. These awards are in addition to the ManTech development
award received from the Night Vision and Electronics Sensors
Directorate during the first quarter of 2021, which was discussed
during the Company’s May 3, 2021 conference call.
The ManTech award continues our work on the current CMOS camera
developed in support of IVAS, targeting reduced power and cost, and
improved performance. In the new awards announced today, the
Enhanced Performance CIS (CMOS Image Sensor) award is aimed at
further improving low-light performance for our next-generation
CMOS camera, advancing from the current high-starlight operating
capability to overcast starlight. The second of the two new awards,
the Enhanced Performance EBAPS award, is aimed at significantly
improved low-light performance utilizing Intevac’s ISIE19 EBAPS®
technology. This Enhanced Performance EBAPS award is designed to
provide ISIE19 low-light performance down to overcast-starlight
capability in a greatly reduced form factor required for this
application.
If selected for Phase 2 development work on all three of these
IVAS-supporting programs, funded development revenues for Intevac
Photonics would total approximately $23 million over a 36-month
period.
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/20210623005321/en/
James Moniz Chief Financial Officer (408) 986-9888
Claire McAdams Investor Relations (530) 265-9899
Intevac (NASDAQ:IVAC)
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