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Micro-Cap Tech Company Scores with Korean Army
By: AllPennyStocks.com News
August 18, 2010
Mobile power solutions are being sought in all fields of endeavor, particularly the military, and as war is becoming more technological, it is a market rich with possibilities.
On August 18, El Segundo, California-based Aura Systems, Inc. (OTCBB:AUSI) announced that it further penetrated the Korean market, by delivering and integrating the first two Near Resonance Rayleigh Scattering (NRRS) systems into a military vehicle in Korea, two more systems being promised for the end of the month at the latest.
AUSI’s VIPER (an acronym for Vehicle Integrated Primary Electrical Resource) mobile power solution was chosen for the NRRS program of South Korea’s army. This program will require 132 systems to be delivered over the next three years, 50 each over the next two.
Each of the VIPER systems will provide 16 kilowatts of three-phase 220VAC power, all designed to be integrated into a mobile radar system. The value of the NRRS contract is approximately $2 million.
Founded in 1987, the company had as its early focus the applications of electromagnetics and electro-optics for weapon systems in the air, land and sea. AUSI designs, assembles and sells the AuraGen/VIPER (used by the U.S. Military), its patented, integrated, mobile power generator and power management system that installs in a motor vehicle and delivers, on-location, both AC and DC electricity for any end user including industrial, commercial, recreational and military applications.
The applications for mobile electric power have been growing steadily in recent years, as advanced digital electronics penetrate all walks of life. Computers, digital sensors and instruments, control systems, automation, real time data collection /processing and other electronic components are steadily replacing less efficient tools and machines. Applications away from the grid line or on-the-move require a mobile source of electricity and, in particular, digital systems require pure sine wave AC power.
AUSI grew from four engineers to a technical staff of over 300. Hard times hit in the mid-2000s, as the original filed for Chapter 11, but AUSI came out with a plan of reorganization in the winter of 2006, having rebuilt its technical, sales and marketing staff. The company claims to be stronger than ever, taking on more lucrative clients than ever before for its leading-edge technology.
The stock price is stuck in the lower-middle portion of a 52-week range that peaked at $1.05 in March, having dipped to 52 cents early in December. The news from Korea brought the price to around the 70-cent mark, but on volume of only 10,000 shares or so. As this unique technology catches on, though, this California-based company hopes to take on more organizations as regular customers. The Korean coup would appear one feather in AUSI’s cap.
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