Shares of Intelligence Provider Up on Contract News

By: Tomas Ronolski - AllPennyStocks.com News

Monday, August 19, 2024

This company is a pioneer, leading the industry in collecting, building and utilizing global-scale and highly precise, raw data, sourced from across the electromagnetic spectrum and extended to gridded or meshed 3D elevation models. And an update about a contract with the U.S. Air Force is moving shares this morning.

A global leader in 3D geospatial products and intelligence solutions, Intermap Technologies (TSX: IMP) (OTCQB: ITMSF) announced in a press release today that it won a second phase in its prime contract with the U.S. Air Force. The contract supports Intermap’s development of navigation solutions for GPS-denied environments and highlights another example of the U.S. Department of Defense (DOD) leveraging Intermap’s commercial research and development.

Intermap uniquely has a global archive of precise, multi-frequency, multi-look SAR collected in slant range and co-registered in real-time with proprietary, complex algorithms. The Air Force will leverage this unique capability and extensive archive, which is the world’s largest, to advance its next generation of positioning, navigation and timing (PNT) systems.

Shares were trading up to $0.605 in morning activity.

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