MIND Technology Set for Collaboration with U.S. Navy
Dec 14, 2021 By MarketDepth
MIND Technology, Inc. (NASDAQ: MIND) today announced that it had entered into a Cooperative Research and Development Agreement (CRADA) with the United States Navy’s Naval Surface Warfare Center, Panama City Division (NSWC PCD).
Shares of MIND Technology, Inc. (NASDAQ: MIND) gained over 18.9% during the premarket hours.
Headquartered in The Woodlands, Texas, MIND has a global presence and agreement will allow its scientists and engineers to collaborate with the U.S. Navy on optimizing the next generation of mine-hunting sonar systems.
“Through our subsidiary, Klein Marine Systems, MIND has a long history of supporting the US Navy. I’m thrilled that this CRADA will allow us to leverage the expertise of the scientists and engineers at NSWC PCD to provide innovative solutions to the warfighter, now and into the future. This agreement demonstrates our corporate focus on innovation and new technology, which has delivered game-changing capabilities such as our unique full-swath MA-X™ sonars, will continue to define the gold standard in underwater sensing.”MIND’s Chief Technology Officer, Andy Meecham