March 10, 2004
TASER International, Inc. Announces Wireless Extended Range Electronic Projectile (XREP) Technology
For Immediate Release- March 8, 2004
Completes Phase II Development Under Office of Naval Research Contract
SCOTTSDALE, AZ. - TASER International, Inc. (Nasdaq: TASR & TASRW), a market leader in advanced less-lethal weapons, today announced the completion of Phase II in the development of its new Extended Range Electronic Projectile (XREP™) technology to deliver an Electro-Muscular Disruption (EMD™) effect at extended ranges in a wireless, self contained projectile system.
"We are pleased to announce the completion of our Phase II development milestones under our research contract with the Office of Naval Research for extended range non-lethal EMD systems powered by TASER," said Rick Smith, CEO of TASER International, Inc. "Over the past 18 months, we have proven the core XREP technology, including the EMD engine that delivers a bio-effect similar to our current TASER X26 in an electronic payload weighing less than 2 ounces. However, there is much work to be done in optimizing the aeroballistics of the projectile, developing a final design for manufacture, and testing the design before moving to a manufacturing phase. We anticipate this work will require 18 to 24 months depending on project funding and final performance specifications. We have submitted proposals for follow-on funding, but have not received approval for additional government funds for the remaining development work. If external funding is not obtained, we intend to continue development using our own R&D budget as necessary to maintain technical progress, as we believe this technology has broad commercial application. Our goal is to develop the XREP technology into a family of projectiles that can be launched from existing shoulder fired weapon platforms," continued Smith.
"The effective range and blunt impact characteristics for the XREP will be comparable to existing blunt impact devices such as 'bean bag' rounds and 40 mm impact munitions with the added capability of true incapacitation through the TASER EMD effect. As such, the XREP will not compete with our current hand-held, belt-holstered TASER systems, but will enable us to enter a new market for extended range applications of 30 feet and beyond, where we currently do not have a presence."
The XREP technology is the subject of four TASER International patents in varying stages of application. TASER International has retained all commercial rights in the patent applications.
About TASER International, Inc.
TASER International, Inc. provides advanced less-lethal weapons for use in the law enforcement, private security, and personal defense markets. Its flagship ADVANCED TASER® M26 product uses proprietary technology to incapacitate dangerous, combative, or high-risk subjects that may be impervious to other less-lethal means. Its latest product, the TASER X26 is 60% smaller and lighter that the ADVANCED TASER M26 and reduces injury rates to suspects and officers, thereby lowering liability risk and improving officer safety. TASER technology currently in testing or deployment at over 3,500 law enforcement and correctional agencies in the U.S. and Canada.
For more information go to www.TASER.com or contact Steve Tuttle, Director of Law Enforcement Affairs at Steve@TASER.com or call 800-978-2737 ext. 2006.