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mPhase Technologies, Inc. (OTCBB: XDSL) today announced that it has entered preliminary discussions with a major prime contractor of military and commercial products for a joint project to custom tailor its Smart Nanobattery to a major application. The Company is aggressively exploring commercial as well as additional military applications of its Smart Nanobattery to complement its efforts with Picatinny Arsenal in developing applications of its Smart Nanobattery to provide power for guidance systems for smart munitions. The Company recently signed a 3 year CRADA (Cooperative Research and Development Agreement) with the U.S. Army Armament Research, Development, and Engineering Center (ARDEC) at Picatinny, New Jersey.
"We believe we are making significant strides in broadening the potential product line for its Smart Nanobattery beyond applications for smart munitions," said Ron Durando, president and CEO of mPhase Technologies. "We are looking forward to establishing a significant partner with a prime military or commercial company. We are seeking partners that have a product line for which the Smart Nanobattery will be a compelling solution to complement our significant efforts for military applications involving smart munitions."
Prior testing with Picatinny demonstrated extreme resiliency to shock and acceleration of the SmartBattery prototypes, surviving tests that subjected them to high acceleration of over 30,000 G-forces. (One g is equal to the pull of gravity at sea level.) The tests, which involved both simulations out of an air-gun and live testing of firing projectiles out of a tank, indicated that the underlying nanostructure of the prototype power cell could withstand extreme shock if used in military applications.
About mPhase Technologies, Inc.
mPhase Technologies is introducing a revolutionary Smart Surface technology enabled by breakthroughs in nanotechnology, MEMS processing and micro fluidics. Our Smart Surface technology has potential applications within drug delivery systems, lab-on-a-chip analytic systems, self-cleaning systems, liquid and chemical sensor systems, and filtration systems. mPhase has pioneered its first Smart Surface enabled product, the mPhase Smart NanoBattery.
In addition to the Smart Surface technology, mPhase recently introduced its first product, the mPower Emergency Illuminator, an award-winning product designed by Porsche Design Studio and sold via the mPower website: www.mpowertech.com.
As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in technology and product development; the Company's ability to execute its business model and strategic plans; and all the risks and related information described from time to time in the Company's SEC filings, including the financial statements and related information contained in the Company's SEC Filing. mPhase assumes no obligation to update the information in this release.
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mPhase Technologies, Inc.
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