EOIR receives $7.8 in additional Army contracts

Published 18 September 2006

Work for the U.S. Army’s Night Vision and Electronic Sensors Directorate to focus on new sensor technology; company will develop countermine and EO/IR components and ATR-signal processing schemes

When it rains it pours. In January 2006 we reported that Woodbridge, Virginia-based EOIR Technologies and Kensington, Maryland-based Genex Technologies, both wholly owned subsidiaries of Technest Holdings (OTC BB: TCNH.OB), had received contracts totaling $2.3 million from the U.S. Army’s Night Vision and Electronic Sensors Directorate (NVESD) and other government customers for new orders for remote sensor technology products and engineering services. The Army’s NVESD, we noted at the time, is one of the more technologically innovative units in the U.S. military, and it has been responsible for numerous key innovations in the fields of optical electronics and thermal imaging for weapons targeting, electronic surveillance, and other mission-critical applications. EOIR’s on-going NVESD omnibus contract was to provide a maximum ceiling amount of up to $80 million in fiscal year revenues.

EOIR clearly made an impression. The company announced this week that it had been awarded four additional NVESD contracts totalling $7.8 million to develop new sensor technologies — 3.5 million in additional contracts and $4.3 million in additional incremental funding under its omnibus contract. This increase in funds brings the total funding for the performance award year to $7 million and the total funds for this contract to $257 million. According to EOIR, the company “will conduct research and foster maturation of countermine and EO/IR sensor components, develop ATR-signal processing schemes and new electronic sensor technologies, manage the procurement of materials, and supplement operational management services.”

-read more in this news release

company Web sites: EOIR |Genex