Kratos Partners with North American Wave Engine Corporation on Contract to Develop Versatile Air-Launched Platform
July 09 2021 - 7:00AM
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS),
a leading National Security Solutions provider and industry-leading
provider of high-performance unmanned systems, announced today that
it has partnered with North American Wave Engine Corporation to
develop the Versatile Air-Launched Platform (VALP), an air-launched
vehicle designed to leverage and demonstrate low-cost, high-impact
technologies for future aerial systems. The VALP will use Wave
Engine Corp.'s propulsion technology to bend the cost curve and
reduce lead times for capabilities necessary to challenge near peer
adversaries.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/22fc74e3-d52b-4939-92a0-f0ac217a75fe
Steve Fendley, President of Kratos
Unmanned Systems Division, said, “Being at the forefront
of high-performance unmanned systems, Kratos continuously pursues
technologies that can transform the paradigms of their
cost-per-performance. We look forward to working with Wave Engine
Corp. to advance and help bring this state-of-the-art, novel
platform and propulsion technology to market."
In June 2021, Wave Engine Corp. was awarded a $1
million contract from the United States Air Force Armament
Directorate to build and demonstrate the VALP as part of the USAF’s
efforts to develop high-impact technologies critical to the future
of aviation and aerial combat. In support of this contract award,
Kratos will be leading the aerodynamic and structural design of the
airframe, as well as providing systems engineering support.
Daanish Maqbool, CEO North American Wave
Engine Corporation, said, "A vehicle like the VALP demands
innovative design philosophies, and we are pleased to have a
dynamic industry-leading partner in this effort. We look forward to
working with Kratos to develop the VALP and lay the technical
foundations for the next generation of high-performance aerial
vehicles."
Kratos Unmanned Systems Division is a leading
provider of high performance unmanned aerial drone and target
systems for threat representative target missions to exercise
weapon, radar, and other systems; and tactical aerial drone systems
for strike/ISR and force multiplication missions.
About Kratos Defense & Security
SolutionsKratos Defense & Security Solutions,
Inc. (NASDAQ:KTOS) develops and fields transformative,
affordable technology, platforms and systems for United States
National Security related customers, allies and commercial
enterprises. Kratos is changing the way breakthrough technology for
these industries are rapidly brought to market through proven
commercial and venture capital backed approaches, including
proactive research and streamlined development processes. At
Kratos, affordability is a technology, and we specialize in
unmanned systems, satellite communications, cyber security/warfare,
microwave electronics, missile defense, hypersonic systems,
training, combat systems and next generation turbo jet and turbo
fan engine development. For more information, please
visit www.KratosDefense.com.
Notice Regarding Forward-Looking
Statements Certain statements in this press release may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are made on the basis of the current
beliefs, expectations and assumptions of the management of Kratos
and are subject to significant risks and uncertainty. Investors are
cautioned not to place undue reliance on any such forward-looking
statements. All such forward-looking statements speak only as of
the date they are made, and Kratos undertakes no obligation to
update or revise these statements, whether as a result of new
information, future events or otherwise. Although Kratos believes
that the expectations reflected in these forward-looking statements
are reasonable, these statements involve many risks and
uncertainties that may cause actual results to differ materially
from what may be expressed or implied in these forward-looking
statements. For a further discussion of risks and uncertainties
that could cause actual results to differ from those expressed in
these forward-looking statements, as well as risks relating to the
business of Kratos in general, see the risk disclosures in the
Annual Report on Form 10-K of Kratos for the year
ended December 27, 2020, and in subsequent reports on Forms
10-Q and 8-K and other filings made with the SEC by
Kratos.
Press Contact:Yolanda White858-812-7302
Direct
Investor
Information:877-934-4687investor@kratosdefense.com
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