Digital Power Corporation (NYSEMKT:DPW) saw its stock price sky rocketing during trading on 19th March. This happened after the Fremont based diversified electronics maker announced that it has bagged a multiyear contract given out by the reputed Israel Aerospace Industries. As per the terms of the contract, the company over the next five years will be providing customized convertors which have been tweaked to meet the low voltage and multiple output needs of the aerospace industry in Israel.
Five Year Multi Million Dollar Project
The five year contract will run through 2018 and will necessitate the company to produce and ship low voltage moduels to the Israeli space organization. These devices are expected to power the navigational system that is being built to support the Israeli Defence Forces. The navigational system on completion and testing will he hoisted into the earth’s stratosphere via rocket launch. The differentiation factor of this navigational device would be its ability to provide precise and continuous directional ability to defence forces even in the most remote parts of the globe, irrespective of the power and other operating conditions.
Expressing the importance of this deal to the company, since it serves as a technology and capability demonstrator, Digital Power Corporation (NYSEMKT:DPW) President, Chief Executive Officer, Interim Chief Financial Officer and Director Amos Kohn has been quoted to have said that, “We are proud that our LVPS product and manufacturing capabilities have been qualified for this effort. The TMAPS represents one of the most significant self-contained hybrid land navigation systems designed to provide autonomous position initialization and moving base alignment for land and amphibious vehicles in the battlefield.”
The company has gone on record to highlight that its products are some of the most cost effective solutions in the market today and are of superior quality and hence can be used in the most critical of applications and devices as the above report indicates.