VirTra Receives $1.5 Million Order from Federal Law Enforcement Training Centers (FLETC) for Law Enforcement Training Simulators

Rhea-AI Summary

VirTra, a global provider of training simulators, has received a $1.5 million order from the U.S. Department of Homeland Security’s Federal Law Enforcement Training Centers (FLETC) for its V-ST PRO^® and V-100^® 4K simulators. This marks FLETC's second order since October 2019. The simulators will enhance law enforcement training through realistic scenarios and technology, to be installed by December 2020 at various locations. VirTra emphasizes the value of this partnership for improving law enforcement training at a larger scale.

Positive

• Received a $1.5 million order from FLETC, indicating strong demand.
• Second order from FLETC since October 2019 highlights ongoing client relationship.
• Simulators provide realistic training scenarios that enhance law enforcement effectiveness.

Negative

• None.

TEMPE, Ariz., Sept. 16, 2020 (GLOBE NEWSWIRE) -- VirTra, Inc. (NASDAQ: VTSI) (“VirTra”), a global provider of training simulators for the law enforcement, military, educational and commercial markets, has received a $1.5 million order from the U.S. Department of Homeland Security’s Federal Law Enforcement Training Centers (FLETC) for VirTra’s V-ST PRO^® 4K simulators, V-100^® 4K simulators, accessories, and training.

FLETC provides career-long law enforcement training to law enforcement professionals in more than 90 federal agencies. This is FLETC’s second order with VirTra since becoming a client in October 2019. VirTra aims to fulfill FLETC’s need for improved training and a technical refresh by providing realistic interactive scenarios and marksmanship training through the latest technology of simulation training solutions. The V-ST PRO and V-100 4K simulators feature professionally produced scenarios, independently verified ballistics, and ultra-high definition 4K imagery and are designed to make the skills learned in a simulator more transferrable to real life.

FLETC intends to utilize the simulators for marksmanship training as well as for its use-of-force Judgmental Pistol Shoot (JPS) Program. The simulators are scheduled to be installed at FLETC’s law enforcement training academy locations in Glynco, GA, Artesia, NM, Charleston, SC, and Cheltenham, MD by December 2020. Additional options under this contract may be exercised in 2021.

“Follow on orders from current customers are always encouraging, but continuing to work with a prestigious training organization like FLETC is particularly valuable for VirTra given the impact this partnership can have,” said Jason Mulcahy, VirTra’s General Manager. “FLETC trains thousands of law enforcement officers annually, and by helping them modernize their programs with new technology of the highest quality, certified judgement training and content that includes interactive branching scenarios, we have an opportunity to efficiently improve the training of law enforcement personnel on a greater scale. We look forward to the benefits this continued partnership will have for VirTra and our customer as we jointly work to support law enforcement members and their communities.”

About VirTra
VirTra (NASDAQ: VTSI) is a global provider of judgmental use of force training simulators, firearms training simulators and driving simulators for the law enforcement, military, educational and commercial markets. The company’s patented technologies, software, and scenarios provide intense training for de-escalation, judgmental use-of-force, marksmanship and related training that mimics real-world situations. VirTra’s mission is to save and improve lives worldwide through practical and highly effective virtual reality and simulator technology. Learn more about the company at www.VirTra.com.

About FLETC:
The Federal Law Enforcement Training Centers (FLETC) provides career-long training to law enforcement professionals to help them fulfill their responsibilities safely and proficiently. Over the past 49 years, FLETC has grown into the Nation’s largest provider of law enforcement training. Under a collaborative training model, FLETC’s federal partner organizations deliver training unique to their missions, while FLETC provides training in areas common to all law enforcement officers, such as firearms, driving, tactics, investigations, and legal training. Learn more at www.fletc.gov.

Forward-Looking Statements:
This news release includes certain information that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by terminology such as “could,” “may,” “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “proposed,” “planned,” “potential” and similar expressions, or are those, which, by their nature, refer to future events. All statements, other than statements of historical fact, included herein, including statements about VirTra’s beliefs and expectations, are forward-looking statements. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Although VirTra believes that such statements are reasonable, it can give no assurance that such forward-looking information will prove to be accurate. VirTra cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors. Accordingly, due to the risks, uncertainties and assumptions inherent in forward-looking information, readers and prospective investors in the Company’s securities should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof, is based upon the opinions and estimates of management and information available to management as at the date hereof and is subject to change. The Company assumes no obligation to revise or update forward-looking information to reflect new circumstances, whether as a result of new information, future events or otherwise, except as required by law.

Investor Relations Contact:
Matt Glover or Charlie Schumacher
VTSI@gatewayir.com
949-574-3860

FAQ

What is the recent order amount received by VirTra from FLETC?

VirTra received a $1.5 million order from the Federal Law Enforcement Training Centers.

When will the simulators be installed at FLETC locations?

The simulators are scheduled to be installed by December 2020.

What products did VirTra supply to FLETC?

VirTra supplied its V-ST PRO® and V-100® 4K simulators, accessories, and training.

How does this order affect VirTra's business?

This order strengthens VirTra's relationship with FLETC and indicates a growing demand for their training solutions.

Why is the partnership with FLETC important for VirTra?

The partnership is crucial for VirTra as it helps modernize law enforcement training and potentially improves training quality for thousands of officers.