12 September 2012, LONDON, UK and AMES, IOWA – PowerFilm, Inc. (AIM: PFLM), (“PowerFilm” or “the Company”), the developer and manufacturer of thin flexible solar panels and developer of roll to roll flexible electronics, today announces it has been awarded a $2.2 million development contract from the US Army.
This new development contract from the US Army is for research and development to reduce the cost and to increase the power output from PowerFilm’s PowerShade solar field shelter.
Included in the program are efforts to improve performance and reduce costs of the basic solar modules as well as modifications of the tent design to allow use of new methods for manufacturing cost reduction. The overall goal of the program is to improve the price/performance ratio of the structure enough to make widespread implementation cost effective.
A small amount of revenue is expected from this contract in the second half of 2012, with the majority in 2013.
The $2.2 million development contract is in addition to the recently announced purchases of approximately $3 million of PowerFilm’s foldable solar panel chargers to be supplied to the Army.
“We’re pleased to have the opportunity to make refinements to the next generation of our PowerShade solar field shelter for the Army, “said Frank Jeffrey, PowerFilm’s Co-Founder and CEO.