Mikros Systems/ Energy Professionals/ Leonardo DRS Announce Pilot Project for their locations
PRINCETON, N.J., Dec. 10, 2019 /PRNewswire/ -- Mikros Systems Corporation (OTCQB: MKRS), an advanced technology company specializing in advanced maintenance for military, industrial and commercial application, and Energy Professionals, LLC, a national leader in helping organizations to significantly reduce energy costs and reach energy sustainability objectives, announced today that they have commenced a pilot program with Leonardo DRS. The pilot program will offer data collection for energy consumption and condition-based maintenance solutions for commercial and industrial applications for Leonardo DRS, which has a 50-year history and multiple locations.
Mikros Systems will provide hardware and software development, installations, system integration and test services based on its defense-grade proprietary Prognostics Framework® solution. Energy Professionals will provide subject matter expertise, energy planning/budgeting and consulting services. This pilot system will provide key maintenance data on a daily basis to technicians and facility managers. The defense grade solution has been found to be important in the decision making process for both Energy Professionals and Leonardo DRS.
According to a July 2016 report, the market for HVAC services is expected to reach over $90 billion by 2022, and these systems consume large amounts of energy. The pilot system will allow Energy Professionals to develop a more sophisticated energy profile for its customers that will save money and work within their long-term budget plans. The Mikros/Energy Professionals solution aims to help property owners and managers increase the reliability and security of their systems and develop a plan for energy solutions.
"Transitioning our proven military maintenance systems to an actual pilot program with DRS at their location is the next step for Mikros," said Mark Malone, President of Mikros Systems. "Together, with Energy Professionals, an industry-leading energy consultancy, we are providing a more cost-efficient, reliable and secure building monitoring system, along with an excellent energy program to generate savings for property owners."
Jim Mathers, President and CEO of Energy Professionals added "Mikros Systems' monitoring technology brings a new level of rigor and security to the commercial and industrial energy market that has never been seen before. Their background in developing energy intelligence solutions for the U.S. Navy will bring about significant cost savings and operational efficiencies for our current and future clients."
About Mikros Systems
Mikros Systems Corporation is an advanced technology company specializing in the development and production of electronic systems technology for advanced maintenance in military, industrial and commercial applications. Classified by the U.S. Department of Defense as a small business, its capabilities include technology management, electronic systems engineering and integration, radar systems engineering, command, control, communications, computers and intelligence systems engineering, and communications engineering. Please visit mikrossystems.com for more information.
About Energy Professionals
Energy Professionals, LLC, founded in 1999, Energy Professionals is one of North America's leading Energy Consultancies, working with commercial customers to reduce and control their energy budgets, building client-specific, comprehensive energy strategies that factor in our client's goals and objectives. Utilizing our extensive network of suppliers, energy efficiency experts and renewable energy partners, we bring the most effective, efficient and innovative technologies to the table. As an energy consulting firm, we offer both focused solutions to a specific issue and broad plans to address long-term growth, paving the way for energy independence, providing more choice and less waste. For more information, visit: www.EnergyProfessionals.com.
About Leonardo DRS
Leonardo DRS was founded in 1969, over the last half century, patriots at Leonardo DRS have created a distinct technology edge for American troops in the U.S. and around the world. Since the company's founding in 1969, tens of thousands of employees have perfected their craft each day with one unifying purpose in mind: to help defend those who defend all Americans and our allies. For more information, visit www.Leonardodrs.com.
Important Information about Forward-Looking Statements
All statements in this news release other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause the Company's actual results, events or financial positions to differ materially from those included within or implied by such forward-looking statements. Such factors include, but are not limited to, changes in business conditions, a decline or redirection of the U.S. Defense budget, significant delays or reductions in appropriations for our projects, the termination of any contracts with the U.S. Government, changes in our sales strategy and product development plans, changes in the marketplace, continued services of our executive management team, our limited marketing experience, competition between us and other companies seeking SBIR grants, competitive pricing pressures, market acceptance of our products under development, delays in the development of products, our ability to adequately integrate our software offerings into our business model, our ability to market our solutions to commercial customers, numerous other matters of national, regional and global scale, including those of a political, economic, business and competitive nature, statements of assumption underlying any of the foregoing, and other factors disclosed in our annual report on Form 10-K for the year ended December 31, 2018 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements.
SOURCE Mikros Systems Corporation
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