Frequency Electronics, Inc. Announces Contract Award

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MITCHEL FIELD, New York, Sept. 27, 2021 (GLOBE NEWSWIRE) – Frequency Electronics, Inc. (“FEI” or the “Company”) (NASDAQ-FEIM) is pleased to announce the award of the contract by the Office of Naval Research. known development of the pulsed optically pumped rubidium atomic frequency standard.

Frequency Electronics received an order to develop the Pulsed Optically Pumped Rubidium Atomic Frequency Standard (POPRAFS) for US government applications on September 23, 2021. The total potential value of the contract if all options are exercised is approximately USD 17.75 million. The basic service period is two years, with two option periods of two years and one year respectively.

Stan Sloane, CEO of FEI, commented: “We are very excited about this award. The POPRAFS technology is a game changer for atomic clocks and will lead to a significant improvement in capabilities compared to currently available products. POPRAFS is a very powerful, highly stable atomic clock and offers significantly better accuracy and service life for critical government and other applications that require this level of performance. This award will further expand our product portfolio to address the terrestrial, space and commercial markets. “

About frequency electronics

Frequency Electronics, Inc. is a world leader in the design, development and manufacture of high-precision timing, frequency generation and RF control products for space and terrestrial applications. Frequency’s products are used in satellite payloads and other commercial, government, and military systems, including C4ISR and electronic warfare, missiles, UAVs, aircraft, GPS, secure communications, energy research, and wired and wireless networks. Frequency has received over 100 excellence awards for providing high performance electronic assemblies to over 150 aerospace and DOD programs. The company invests significant resources in research and development to expand its capabilities and markets.

Frequency’s mission statement: “Our mission is to provide precise time and frequency generation systems with low phase noise from 1 Hz to 50 GHz for space and other demanding environments.”

Subsidiaries and affiliated companies: FEI-Zyfer offers GPS and Secure Timing (“SAASM”) functions for critical military and commercial applications; FEI-Elcom Tech offers Electronic Warfare (“EW”) subsystems and state-of-the-art RF microwave products. For more information, please visit the company’s website: www.frequencyelectronics.com

Contact information: Dr. Stanton Sloane, President & Chief Executive Officer;
Steven Bernstein, Chief Financial Officer;


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