KENNEDY SPACE CENTER, FL, Nov 14, 2011 (MARKETWIRE via COMTEX) -- World Surveillance Group Inc. WSGI +1.49% , a developer of lighter-than-air ("LTA") unmanned aerial vehicles ("UAVs") and related technologies, announced today that the Company has entered into a three year agreement with Oklahoma State University -- University Multispectral Laboratories, LLC ("UML"), to collaborate in support of research, development, testing & evaluation ("RDT&E") activities associated with WSGI's LTA UAV platforms.
According to the terms of the agreement, both parties agree to cooperate and conduct RDT&E, technical, engineering and scientific activities using the facilities, staff, methods, and technologies of each party to rapidly advance technology, from concept to operation, in the following areas: chemical, biological, radiological, nuclear, explosive (collectively, "CBRNE"), command, control, computers, communication, intelligence, surveillance and reconnaissance ("C5ISR"), and unmanned aerial systems ("UAS").
WSGI President and CEO Glenn D. Estrella stated, "We are extremely excited about the opportunity to partner with UML and look forward to developing a long-term relationship focused on current and future product development and commercialization. With UML, we intend on flying and demonstrating the Argus One UAV's capabilities for potential customers at UML's facilities. We also believe we have found a technological partner with whom we will be able to advance our ultimate goal of producing a successful stratospheric airship platform. This partnership with UML and the combination of our resources is a very important step for our Company and we are greatly looking forward to being a part of Oklahoma's continued leadership in developing a rich and deep UAS culture to complement Oklahoma's high technology aerospace industry."
"The UML is very pleased to have the opportunity to assist WSGI achieve its ambitious goals of product development and ultimate commercialization of a very unique UAS to help meet the security needs of our nation. The stratospheric airship offers tremendous potential in the rapidly growing unmanned era of the aerospace industry. The UML and our relationships with Oklahoma's research universities offer WGSI an enhanced capability to expedite development of new capabilities for the DoD and for homeland security," said Dr. Web Keogh, Laboratory Director, UML.
WSGI has begun planning joint flight exercises of the Argus One UAV with UML, a national center for testing, evaluating, and implementing defense, homeland security, energy, and intelligence systems. UML has an agreement with the U.S. Army's Fort Sill to utilize restricted airspace for UAS operations with UML clients including numerous government agencies and programs, and commercial entities. Additionally, WSGI is continuing discussions to schedule further flight testing of the Argus One at the U.S. Department of Energy's Nevada National Security Site as well as the U.S. Army's Proving Ground facility in Yuma, Arizona.
About World Surveillance Group Inc.
World Surveillance Group Inc. WSGI +1.49% designs, develops, markets and sells autonomous, lighter-than-air UAVs capable of carrying payloads that provide persistent security and/or wireless communications solutions at low, mid, and high altitudes. WSGI's airships, when integrated with electronics systems and other high technology payloads, are designed for use by government-related and commercial entities that require real-time intelligence, surveillance and reconnaissance or communications support for military, homeland defense, border control, drug interdiction, natural disaster relief and maritime missions. For more information regarding WSGI, please visit www.wsgi.com , or view our reports and filings with the Securities and Exchange Commission on http://www.sec.gov .
About Oklahoma State University-University Multispectral Laboratories (UML).
Oklahoma State University established the University Multispectral Laboratories (UML) as a government-owned, contractor-operated nonprofit corporation, tasked as a "Trusted Agent" to develop and operate a research, development, test, evaluation, and training laboratory and field facilities in support of C5ISR and CBRNE missions including: urban, rural, subterranean, explosive, and UAS complexes aided by test and evaluation equipment and sensors to meet Federal, State, local and commercial requirements. The UML team consists of former special operations forces, and intelligence and scientific personnel with relevant experience and past performance in support of critical government missions. For more information regarding UML, please visit http://www.okstate-uml.org/ .
Forward-Looking Statements
Certain statements in this release constitute forward-looking statements. These statements include those regarding the benefits, conduct, results or development of the Company's relationship with UML, the ability to develop a stratospheric airship platform, the timing, location or results of any flight testing of our UAVs, the expected payloads or systems to be carried on the Argus One or to be tested during any given flight test, the further advancement, development or commercialization of the Company's UAVs, the outcome of any demonstrations of the Company's airships, the capabilities and advantages of, and costs related to, the Company's technology and products, the Company's ability to execute on its strategies or business plan or accomplish any of its goals, and Oklahoma's or the Company's role in the UAS industry. The words "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release. source
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