Aura Systems, Inc. (OTCBB:AUSI) announced today that it received a new release for approximately $612,000 from the South Korean military for the use of the VIPER mobile power solution. The entire release it expected to be shipped before the end of February 2012.
Including this release, the South Korean military will now have over 520 VIPER systems delivered and actively deployed. This is the 5th release for the previously announced order for 1,000 systems. Additional 500 systems for this program are to be deployed by the South Korean military over the next 5 years.
In addition to this program, there are a number of other South Korean military programs that are currently considering the VIPER solution. While a decision to use Aura's VIPER on additional programs is expected over the next several months no assurances can be given as to when or if such other contracts will materialize.
Mr. Melvin Gagerman Aura's CEO said, "The VIPER mobile power solution is clearly entering the mainstream in the South Korean military. With this new release our deployed VIPER mobile power solution is now providing the South Korean military with over 2,500 kW of mobile power on demand. We are pleased to continue to see greater acceptance of our VIPER solution by the South Korean military."
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