Ultralife Corporation Awarded IDIQ Contract Under U.S. Army’s $1.25B Conformal Wearable Battery Program
May 17 2021 - 4:01PM
Ultralife Corporation (NASDAQ: ULBI) has received a firm-fixed
price indefinite-delivery/indefinite-quantity contract from the
U.S. Army for purchases of Conformal Wearable Batteries not to
exceed $168 million during the three-year base award period with
the potential for up to an additional $350 million should the six
one-year option periods be exercised. The timing of deliveries and
quantities are at the discretion of the U.S. Army, and include
successful completion of First Article Testing demonstrating full
compliance with the contractual product specifications and program
requirements.
Ultralife’s contract was awarded as part of a
$1.25 billion multiple-award contract for Conformal Wearable
Batteries being developed under the U.S. Army’s Tactical Power
Generation Program. The lightweight, Lithium-Ion rechargeable
batteries will provide soldiers with a power source capable of
sustaining dismounted operations in remote areas for up to 24 hours
and are envisioned to increase soldier mobility by reducing the
weight and quantity of batteries needed to be carried.
“Ultralife is a long-standing supplier to the
U.S. military and our products are recognized for their long-life,
unsurpassed safety record and reliability under the toughest
conditions. Our selection to participate in what could be a
military battery program extending up to nine years, demonstrates
the effectiveness of our new product development strategy of
designing and building technically advanced batteries in
collaboration with our strategic partners,” said Michael D.
Popielec, Ultralife’s President and Chief Executive Officer. “We
look forward to expanding our heritage of supporting soldier
modernization initiatives by providing the highest quality,
mission-critical power solutions.”
About Ultralife Corporation
Ultralife Corporation serves its markets with
products and services ranging from power solutions to
communications and electronics systems. Through its engineering and
collaborative approach to problem solving, Ultralife serves
government, defense and commercial customers across the globe.
Headquartered in Newark, New York, the Company's
business segments include Battery & Energy Products and
Communications Systems. Ultralife has operations in North America,
Europe and Asia. For more information, visit
www.ultralifecorporation.com.
Company Contact: |
Investor Relations Contact: |
Ultralife Corporation |
LHA |
Philip A. Fain |
Jody Burfening |
315-210-6110 |
(212) 838-3777 |
pfain@ulbi.com |
jburfening@lhai.com |
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