Investors are often on the lookout for innovative companies due to the considerable long-term upsides, and one such company at this point is Applied Energetics Inc. (OTC:AERG), a leading player involved in advancing USPL (ultrashort pulse laser technologies).
This past Friday, the company came into focus after it announced that its ultra-short pulse laser program with the ONR (Office of Naval Research) had been transitioned to a contract from a grant. The grant that had been awarded to Applied Energetics was for the development of an optical system that would have the capability of defeating customer-specified threats for integration on platforms used by the United States Marine Corps.
The original grant awarded to the company had a performance period of two years. The new contract that had been signed by the company superseded the contract signed in May 2022 and had a ceiling value to the tune of $1,217,535 with a base period of performance through November 11, 2024, and an unfunded option for a 12-month period that would end on November 11, 2025. In the past, Applied Energetics filed an 8K over the matter on March 12, 2024, with the United States Securities and Exchange Commission.
The President and Chief Executive Officer of the company, Dr. Greg Quarles, spoke about the development as well. He noted that everyone at the company was pleased to reveal that ONR had made the commitment to continue to advance and support the development of Applied Energetics’ photonics and optical-based technology for the United States Marine Corps. He went on to note that the work from Applied Energetics would be focused on boosting the capability set of the technology and speeding up the transition of technology to the field from the laboratory to support United States security personnel.
 Stock In Focus After Recent News){kind=link}