Micronetics Receives $4 M for Microwave Subassemblies
Micronetics Inc. announced that its New Jersey-based subsidiary, Microwave Concepts, has received $4 M of advanced funding from a major defense OEM for highly integrated microwave subassemblies. These subassemblies are used as part of a complex jamming system. In addition to this advanced funding, full funding of production quantities is expected within 60 days. When fully funded, the anticipated value is over $8 M.
The anticipated period of performance on this program is approximately 24 months, with a significant portion of the award being accelerated during the current fiscal year.
David Robbins, CEO of Micronetics, stated, “Based on our past performance we have developed a rapport with our customer that instills confidence that we will meet the tight timeline for performance while containing costs. The close and transparent relationship between our subsidiary and our customer played a key role in successfully initiating this program.”
Tony Pospishil, general manager of Micro-Con, added, “Our experience integrating various broadband microwave technologies, along with our commitment to quality and value, enables us to continue to participate in critical programs with our respected OEM defense partners. We are proud to be a part of the enabling technology in this advanced jamming system.”