December 22, 2004
TASER Announces Largest Research Contract in Company History for the Continuation of the Wireless Extended Range Electronic
SCOTTSDALE, Ariz., TASER International, Inc. (NASDAQ: TASR), a market leader in advanced non-lethal devices, today announced that it has received follow-on funding from the Department of Defense through the United States Marine Corps and the Office of Naval Research. The research contract, in excess of $515,000 is the largest in the Company's history.
The funding is in response to a proposal that was submitted by TASER International, Inc. to continue the development of its new Extended Range Electronic Projectile (XREP(TM)) technology. The XREP is a shoulder fired projectile that delivers a wireless Electro-Muscular Disruption (EMD(TM)) effect at extended ranges. Under the previous work, TASER International demonstrated the core XREP technology, including the EMD engine that delivers a bio-effect similar to our current TASER(R) X26 in an electronic payload weighing less than 2 ounces. Phase III and IV will focus on optimizing the aeroballistics of the projectile, developing a final design for prototype demonstration, and testing the design before moving to a manufacturing phase.
"We are extremely pleased to announce the approval of additional funding from the Office of Naval Research for our extended range non-lethal projectile," said Rick Smith, CEO of TASER International, Inc. "Our passion is to push the boundaries of our TASER technology to the next level. We feel that this research contract demonstrates our leadership and capability of developing cutting edge EMD products that were previously limited to the imagination," 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 out to 100 feet and beyond, where we currently do not have a presence," concluded Smith.
The XREP technology is the subject of four TASER International patent applications. TASER International has retained all commercial rights in the patent applications.
About TASER International, Inc.
TASER International, Inc. provides advanced non-lethal devices for use in the law enforcement, military, private security and personal defense markets. TASER devices use proprietary technology to safely incapacitate dangerous, combative or high-risk subjects who pose a risk to law enforcement officers, innocent citizens or themselves. TASER technology saves lives every day, and the use of TASER devices dramatically reduces injury rates for police officers and suspects and reduces litigation costs. TASER technology is currently in testing or deployment at over 6,000 law enforcement and correctional agencies in the U.S. and abroad.
For more information on TASER life-saving technology, please call TASER International at (480) 444-4000 or visit our website at www.TASER.com.