SOURCE: Metal Storm Limited

Metal Storm Limited

July 22, 2011 18:53 ET

Metal Storm and TASER Sign MoU

BRISBANE, AUSTRALIA--(Marketwire - Jul 22, 2011) - Metal Storm Limited (ASX: MST) (PINKSHEETS: MTSXY)

Metal Storm Limited is pleased to announce that it has entered into a Memorandum of Understanding (MoU) with TASER International Inc. and BREON Defence Systems Pty Limited to develop and market TASER® less-lethal ammunition for the Metal Storm MAUL™ weapon.

Under the MoU the parties will collaborate to develop, produce and market Metal Storm MAUL™ ammunition that launches the TASER® Extended Range Electronic Projectile (XREP™).

TASER International manufactures industry leading Electronic Control Devices (ECDs) that are used worldwide by law enforcement, military, correctional services, professional security, and personal protection markets. TASER ECDs use proprietary technology to incapacitate dangerous or high-risk subjects who pose an immediate risk to themselves or others. The use of TASER devices dramatically reduces injury rates for law enforcement officers and suspects.

The TASER XREP is the most technologically advanced projectile ever deployed from a 12-gauge cartridge. It delivers a similar Neuro Muscular Incapacitation bio-effect as handheld TASER ECDs, but can be delivered to a much greater effective range -- up to 100 feet from the operator.

Metal Storm's MAUL™ is a highly compact, multi-shot 12 gauge launcher that is ideally suited to law enforcement and military applications. It can be fitted as an accessory to an assault rifle, or operated from its own shoulder stock or pistol grip attachments. Weighing just 800 grams, MAUL™ uses Metal Storm's patented stacked projectile technology to provide semi-automatic fire as fast as the operator can squeeze the trigger. A full weapon reload of up to five rounds takes less than two seconds.

TASER International Chairman and Founder, Tom Smith said that the MAUL™ and XREP combination would be ideal for sectors of the market where extended range was needed but size and weight had to be minimized.

"We developed the XREP to provide an extended range for situations where a close approach was dangerous or not possible," he said. "MAUL™ will provide this capability from a very lightweight, compact accessory launcher, rather than the operator having to carry a separate conventional shotgun."

Metal Storm CEO, Lee Finniear said that the TASER XREP will add a new and highly effective projectile to the MAUL™ less-lethal capability.

"Our objective with MAUL™ has been to deliver a lightweight launcher that complements conventional assault rifles by providing a broad range of capabilities for non-lethal, door breaching and other specialized missions." he said. "The TASER XREP ammunition will provide the exceptionally versatile TASER Neuro Muscular Incapacitation from the MAUL™ weapon, with the added benefit of a longer range than the conventional TASER. In our view MAUL™ plus the XREP will be a game changing combination for urban military and law enforcement operations."

BREON Defence Systems is also a party to the MoU. BREON is the exclusive Asia Pacific Distributor for TASER products, and it recently signed an exclusive distributorship agreement with Metal Storm for MAUL™ for the law enforcement market in Australia and New Zealand. BREON will provide local Australian support for the collaboration, plus assist with the development of effective marketing and business development strategies for the combined system.

Metal Storm's Australian Stock Exchange trading code: MST
Metal Storm's OTC Symbol: MTSXY

About Metal Storm -

Safe Harbour
Certain statements made herein that use the words "estimate", "project", "intend", "expect", "believe" and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties which could cause the actual results, performance or achievements of the company to be materially different from those which may be expressed or implied by such statements, including, among others, risks or uncertainties associated with the development of the company's technology, the ability of the company to meet its financial requirements, the ability of the company to protect its proprietary technology, potential limitations on the company's technology, the market for the company's products, government regulation in Australia and the US, changes in tax and other laws, changes in competition and the loss of key personnel. For additional information regarding these and other risks and uncertainties associated with the company's business, reference is made to the company's reports filed from time to time with the Securities and Exchange Commission, including the company's Form 20-F.

Contact Information

  • Company Contact:

    Australia & USA
    Dr Lee Finniear
    Chief Executive Officer
    Metal Storm Limited
    Ph: +61 7 3147 8600

    Mr Peter Faulkner
    Metal Storm Inc.
    Ph: +1 (703) 2488218