Applied Energetics to continue ultrashort pulse laser program with ONR

Applied Energetics announced that the Company’s existing ultra short pulse laser program with the Office of Naval Research has transitioned from a grant to a contract. The Company’s previously awarded grant with ONR was for the development of an optical system capable of defeating customer-specified threats for integration onto U.S. Marine Corps platforms. The original grant had a two-year period of performance. The new contract supersedes the May 2022 grant and carries a ceiling value of $1,217,535 under a base period of performance through November 11, 2024, and a twelve-month unfunded option period that ends November 11, 2025. The Company previously filed an 8-K related to this matter with the Securities & Exchange Commission on March 12, 2024.