Elbit Systems Awarded a $16 Million Contract to Supply a Space Telescope to the Weizmann Institute of Science
Elbit Systems Ltd. (NASDAQ: ESLT) has secured a $16 million contract to develop a space telescope for the Weizmann Institute of Science as part of Israel's Ultraviolet Transient Astronomy Satellite (ULTRASAT) program. This contract spans two years and aims to enhance understanding of deep space phenomena, including black holes and supernovas. The project is collaboratively managed with the Israeli Space Agency and the German DESY research center. Elbit Systems brings extensive experience in providing advanced space technologies for various international programs.
- Awarded a $16 million contract to supply a space telescope, enhancing revenue potential.
- Contract duration of two years indicates stable future cash flow.
- Strengthens collaboration with prominent institutions like the Weizmann Institute and DESY.
- None.
HAIFA, Israel, Jan. 26, 2022 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems") announced today that it was awarded a contract valued at approximately
Elbit Systems will develop, manufacture and integrate a highly sensitive, wide field of view (200 square degrees) ultraviolet space telescope that is intended to help scientists in understanding the creation of heavy elements, black holes and gravitational waves and discover astronomical phenomena such as supernovas (star explosions). Elbit Systems has a record of providing space cameras, satellites and other electronic instruments of its production to space programs in Israel, the U.S., Europe, South Korea and Brazil.
Oren Sabag, General Manager of Elbit Systems ISTAR & EW, commented: "We are proud to take part in this scientific endeavor lending our capabilities and experience to the effort to better understand nature. We are pleased with the opportunity to cooperate with the Israel Space Agency and with the scientific community led by the Weizmann Institute of Science and the German DESY research center."
About Elbit Systems
Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.
For additional information, visit: https://elbitsystems.com/, follow us on Twitter or visit our official Facebook, YouTube and LinkedIn Channels.
Company Contact:
Joseph Gaspar, Executive VP & CFO Tel: +972-4-8316663
Rami Myerson, Director, Investor Relations Tel: +972-77-2948984
David Vaaknin, VP, Head of Corporate Communications Tel: +972-77-2946691 david.vaaknin@elbitsystems.com
| IR Contact:
Ehud Helft Kenny Green GK Investor Relations Tel: 1-646-201-9246 |
This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management's current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company's future financial results, its anticipated growth strategies and anticipated trends in its business. Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.
Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies. All other brand, product, service and process names appearing are the trademarks of their respective holders. Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.
View original content:https://www.prnewswire.com/news-releases/elbit-systems-awarded-a-16-million-contract-to-supply-a-space-telescope-to-the-weizmann-institute-of-science-301468401.html
SOURCE Elbit Systems Ltd
