IBC Advanced Alloys Delivers First UAS Components for Analysis
September 15, 2014 (Source: Marketwired) — IBC Advanced Alloys Corp. (TSX VENTURE:IB)(OTCQX:IAALF) has successfully delivered several unmanned aerial system (UAS) demonstration articles manufactured using IBC’s proprietary Beralcast® technology. The components were delivered to the U.S. Department of Defense’s Reliability Information Analysis Center (RIAC) as a part of a program that evolved from a 2011 development and technical services agreement between IBC, the U.S. military’s Army Research Laboratory (ARL) and the Naval Air Systems Command (“NAVAIR”), headquartered in Patuxent River, Maryland.
Wyle, a provider of aerospace engineering services to the federal government, engaged IBC on behalf of the RIAC to demonstrate the service life and performance enhancement for UAS platforms using Beralcast® materials. An assembly of three critical components for the Navy’s MQ-8B Fire Scout Vertical Takeoff UAS was down-selected for demonstration. The RIAC will perform additional testing and evaluation which will be available for all current and future in-service aircraft programs.
“We are pleased to have delivered these Beralcast® parts and will continue to work closely with Wyle and NAVAIR through the testing and evaluation phase,” said IBC Engineered Materials President Ray White. “IBC’s strong materials and aerospace capabilities are ideally suited to UAS applications and can significantly increase subsystem performance and service life, including loiter time and flight range due to reduced payload weight. With our diverse aerospace experience,” continued White, “IBC is able to manage multiple commercial UAS production programs alongside our existing aerospace initiatives.”
Recent deployment of UAS systems has increased dramatically and is driving strong growth across both the military and commercial segments. The effectiveness of UASs has encouraged full commitment which will drive rapid market growth. A 2013 Teal Group market study predicts UAS spending to double during the next decade from $5.9 billion annually to $11.3 billion, totaling more than $95 billion. The report says the U.S. will account for 77% of the R&D and 69% of the procurement spend.
The development and technical services agreement, signed in 2011, covers the identification of suitable component and substructures for commercial scale manufacturing opportunities using the Beralcast® ultra-light and high modulus beryllium aluminum alloys. IBC Engineered Materials is working closely with NAVAIR to develop, evaluate and test the use of IBC’s Beralcast® alloys for a range of UAS programs. The joint initiative is focused on the manufacture of specific subsystem components using Beralcast® alloys to achieve weight reduction, greater sensor effectiveness and component stiffness for specific UAS programs.
About IBC Advanced Alloys Corp.
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IBC is an integrated manufacturer and distributor of rare metals (beryllium) based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 80 employees and is headquartered in Vancouver, Canada with production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. IBC is creating a dynamic global beryllium and advanced alloys company. IBC’s common shares are traded on the TSX enture Exchange under the symbol “IB” and the OTCQX under the symbol “IAALF.”
Wyle, a privately held company, is a leading provider of high-tech aerospace engineering, information technology and scientific services to the federal government on long-term outsourcing contracts and has more than 4,000 dedicated employees at 50-plus locations across the US. The company also provides test and evaluation of aircraft, weapon systems, networks and other government assets as well as other engineering services to aerospace and defense. For more information on Wyle, please go to www.wyle.com.
This news release was prepared by management of IBC, which takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company’s control including: the impact of general economic conditions in the areas in which the Company operates, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, limited availability of raw materials, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with manufacturing activities therefore the Company’s future results, performance or achievements could differ materially from those expressed in these forward-looking statements. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.
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