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LQMT News Liquidmetal(R) Technologies & Lockheed-Martin Team Receive Contract Award from the U.S. Navy for Development of Titanium-base Composite Alloys

LAKE FOREST, Calif.--(BUSINESS WIRE)--Liquidmetal^® Technologies, Inc. (OTCBB:LQMT) announced it has received a contract award from the U.S. Navy for the development of Titanium-base composite alloys. The contract is valued at two million dollars and is expected to run for a period of 24 months. The program goal is to develop Ti-base composite alloys with very high strength, corrosion resistance and net-shape forming capabilities based on proprietary Liquidmetal® alloy technology. These alloys will have various applications ranging from fasteners to lightweight structures used by both defense and commercial industries.

According to Ricardo Salas, President and CEO, “We are very pleased to be awarded this program by the U.S. Navy and to have another opportunity to contribute our technology and expertise in amorphous metal alloys towards developing an advanced material solution for challenging defense applications. We are also pleased to have Lockheed Martin - Missile and Fire Control Systems as a sub-contractor on this project. As an industry leader in aerospace materials and applications, we look forward to working with Lockheed Martin to focus this effort on important defense material needs and applications.”

The contract will be administered by the Office of Naval Research in Washington D.C.

About Liquidmetal Technologies

Liquidmetal Technologies (www.liquidmetal.com) is the leading developer, manufacturer, and marketer of products made from amorphous alloys. Amorphous alloys are unique materials that are characterized by a random atomic structure, in contrast to the crystalline atomic structure possessed by ordinary metals and alloys. Bulk Liquidmetal® alloys are two to three times stronger than commonly used titanium alloys, harder than tool steel, and relatively non-corrosive and wear resistant. Bulk Liquidmetal alloys can also be molded into precision net-shaped parts similar to plastics, resulting in intricate and sophisticated engineered designs. Liquidmetal Technologies is the first company to produce amorphous alloys in commercially viable bulk form, enabling significant improvements in products across a wide array of industries. The combination of a super alloy’s performance coupled with unique processing advantages positions Liquidmetal alloys for what the company believes will be The Third Revolution ^TM in material science.