Stocks

Ultralife Corporation (ULBI) Awarded IDIQ Contract Under U.S. Army Battery Program

Ultralife Corporation (ULBI)  has received a firm-fixed price indefinite-delivery/indefinite-quantity contract from the U.S. Army for purchases of Conformal Wearable Batteries not to exceed $168 million during the three-year base award period with the potential for up to an additional $350 million should the six one-year option periods be exercised. The timing of deliveries and quantities are at the discretion of the U.S. Army, and include successful completion of First Article Testing demonstrating full compliance with the contractual product specifications and program requirements.

Ultralife’s contract was awarded as part of a $1.25 billion multiple-award contract for Conformal Wearable Batteries being developed under the U.S. Army’s Tactical Power Generation Program. The lightweight, Lithium-Ion rechargeable batteries will provide soldiers with a power source capable of sustaining dismounted operations in remote areas for up to 24 hours and are envisioned to increase soldier mobility by reducing the weight and quantity of batteries needed to be carried.