Press Release
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Because this technology would also benefit the Air Force and Navy, the Army is managing this effort as a joint service program.
The 15-month contract is funded at just under $2 million. The goal of this agreement is to further develop Liquidmetal KEP- technology with the long-term goal of providing production quantities to the U.S. military. The market potential for KEPs could exceed several hundred million dollars. As a sub-contractor to this effort, General Dynamics-Ordinance and Tactical Systems will be providing systems integration, design, and testing support.
Bulk Liquidmetal alloys are amorphous alloys that are two to three times stronger than titanium, harder than tool steel, and can be molded into precision parts similar to plastics. Liquidmetal Technologies is the first company to produce amorphous alloys in commercially viable bulk form, and the alloys are considered a major advance in material science.
This press release may contain "forward-looking statements" that involve risks and uncertainties, including statements regarding our plans, future events, objectives, expectations, forecasts, or assumptions. Any statement in this press release that is not a statement of historical fact is a forward-looking statement, and in some cases, words such as "believe," "estimate," "project," "expect," "intend," "may," "anticipate," "plans," "seeks," and similar expressions identify forward-looking statements. These statements involve risks and uncertainties that could cause actual outcomes and results to differ materially from the anticipated outcomes or result, and undue reliance should not be placed on these statements. These risks and uncertainties may include: our limited operating history in developing and manufacturing products from bulk amorphous alloys; the adoption of our alloys by customers; the commercial success of our customer's products; our ability to identify, develop, and commercialize new applications for our alloys; competition with suppliers of incumbent materials; the development of new materials that render our alloys obsolete; the ability to manage our anticipated growth; our limited direct experience in manufacturing bulk alloy products; scaling-up our manufacturing facilities; protecting our intellectual property; problems associated with manufacturing and selling our alloys outside of the United States; and other risks and uncertainties discussed in filings made with the Securities and Exchange Commission (including risks described in subsequent reports on Form 10-Q, Form 10-K, Form 8-K, and other filings). Liquidmetal Technologies disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
CONTACT: Liquidmetal Technologies Otis Buchanan, 813/314-0280 ext 109 otis.buchanan@liquidmetal.com or Burson-Marsteller, New York Peter Judice, 212/614 -4506 peter_judice@nyc.bm.com
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