TUCSON, June 4 (UPI) -- The U.S. Army renewed its funding with Applied Energetics Inc. to continue advancing its laser-guided electric charge weapons technology.
Arizona's Applied Energetics announced it received a $1.8 million award to continue developing its proprietary Laser Guided Energy transformational weapon system that company officials say is designed to engage enemy targets with a precision electric charge.
The Ordnance Technology Initiative Agreement, awarded by the Army's New Jersey Research, Development and Engineering Command, is part of incremental performance based funding award that could reach a ceiling value of $13.4 million.
The newly announced award brings Applied Energetics' total funding on the development project to $4.9 million. Each incremental award is part of a larger initiative to comprise a Laser Guided Energy system for future Army requirements.
"Our development efforts for Laser Guided Energy continue to progress and we are pleased to see this renewal of support from our Army customer," Joe Hayden, Applied Energetics chief operating officer, said in a statement.
