logo
Barrett and MARS win Army's Precision Grenadier System competition

Barrett and MARS win Army's Precision Grenadier System competition

Yahoo27-05-2025
On May 22, 2025, the U.S. Army's xTech Program announced that the MARS Inc, Barrett team was selected as the winner of the xTech Soldier Lethality competition for the Precision Grenadier System. The Army invited companies to showcase concepts for the PGS requirements. Participants engaged and pitched their technology solutions to the Department of Defense for prize money and the potential to receive a contract award or agreement of up to $2 million.
'Lt. Col. Micah Rue, Project Manager Soldier Lethality's Product Manager for Soldier Weapons, noted the lack of a commercial PGS solution,' the Army Innovation Programs Office noted in an Army xTech article. 'To deliver an Army PGS program by fiscal year 2026, PEO Soldier partnered with xTech to fund and incentivize industry participation, sparking innovation and creating a new industry teaming environment.'
Phase 1 took place in 2023 and involved a concept white paper submission; up to five winners could be selected and were awarded $15,000 each. Winners of phase 1 were invited to participate in the phase 2 technology pitch, also in 2023. Up to three winners were selected in phase 2 and awarded $300,000 each. Phase 3, final demonstration, took place from 2024-2025 and saw FN's PGS-001 complete against MARS Inc/Barrett's 30mm Support Rifle System.
'In six months, this team of agile businesses were able to design, build, test, and demonstrate the effectiveness of a new 30mm grenade rifle system in support of the Army's Precision Grenadier System (PGS) requirement,' Barrett said in a press release. 'PGS is a soldier portable, shoulder fired, semi-automatic, magazine fed, integrated armament system (weapon, ammunition, fire control) that enables rapid, precision engagements to destroy personnel targets in defilade and Unmanned Aerial Systems (UAS) targets at close range.'
Barrett and MARS worked with AMTRC Corp to develop an entirely new family of 30mm shoulder fired munitions. The new ammunition family covers the full spectrum of capabilities required by the Army including Programmable Air Bursting High Explosive, Proximity Fuzed and Point Detonating High Explosive, and even a Close Quarter Battle Round. AMTEC is the largest volume producer of 40mm grenade ammunition and fuzing in the world and is currently the sole Prime Contractor to the DoD for 40mm ammunition.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Reynold Lemkins Group Catalyzes Global Biotech Innovation as Cornerstone Investor in Recent HKEX Listing
Reynold Lemkins Group Catalyzes Global Biotech Innovation as Cornerstone Investor in Recent HKEX Listing

Business Wire

time30 minutes ago

  • Business Wire

Reynold Lemkins Group Catalyzes Global Biotech Innovation as Cornerstone Investor in Recent HKEX Listing

HONG KONG--(BUSINESS WIRE)--Reynold Lemkins Group, a leading global investment firm focused on late-stage growth and frontier technologies, announced its significant cornerstone investment in the initial public offering (IPO) of Cloudbreak Pharma ( on the Hong Kong Stock Exchange (HKEX). This strategic investment underscores Reynold Lemkins Group's commitment to backing visionary biotech companies poised to deliver transformative solutions to global challenges. Reynold Lemkins Group serves as a cornerstone investor in Cloudbreak Pharma's HKEX IPO, reinforcing its commitment to bridging cross-border capital with transformative growth. Cloudbreak Pharma, a clinical-stage ophthalmic biotechnology company, recently completed its HKD 612 million growth-focused IPO. Focused on innovative therapies like CBT-001 for pterygium (in Phase 3 U.S./China trials and potentially the world's first approved non-surgical treatment), Cloudbreak Pharma will utilize proceeds to fund critical R&D, manufacturing expansion, and commercialization of its lead biologic assets. Reynold Lemkins Group served as a cornerstone investor, committing USD 22.8 million (HKD 179 million) to the offering alongside Wealth Strategy Holding, with collective cornerstone investment totaling approximately USD 45.6 million. Reynold Lemkins Group's role as a cornerstone investor in this HKEX listing further solidifies its position as a crucial cross-border capital partner. The firm leverages its deep expertise in navigating complex international markets to connect promising innovation from Asia with global investment, facilitating the growth of companies that are redefining industries worldwide. This strategic focus is underscored by the firm's consistent track record in the biotech sector, including its prior participation in the successful IPO of VISEN Pharmaceuticals (HKEX: 02561), which similarly attracted strong institutional demand and aligned with Reynold Lemkins' commitment to regulatory-validated, commercially scalable businesses. This investment exemplifies Reynold Lemkins Group's strategy of providing patient, strategic capital to ventures at the forefront of technological and medical advancement, ensuring their ability to scale and deliver. "Cloudbreak Pharma epitomizes Reynold Lemkins Group's core philosophy: empowering companies that are truly transforming their fields," said Kris Haoran Liu, President and Chief Investment Officer at Reynold Lemkins Group. "We're proud to back a biotech pioneer bringing life-changing science to global health. This investment perfectly aligns with our drive to bridge cross-border capital with transformative growth, creating lasting value."

Palantir Explodes 525%--CTO Becomes Billionaire, Insiders Dump Billions
Palantir Explodes 525%--CTO Becomes Billionaire, Insiders Dump Billions

Yahoo

time3 hours ago

  • Yahoo

Palantir Explodes 525%--CTO Becomes Billionaire, Insiders Dump Billions

Palantir Technologies (NASDAQ:PLTR) has been on an absolute tearup 525% over the past yearmaking it the top gainer in the S&P 500 by percentage. That rally just turned Chief Technology Officer Shyam Sankar into a billionaire, joining co-founders Alex Karp, Peter Thiel, and Stephen Cohen at the top of the leaderboard. Shares recently hit an all-time high of $158.80 after the company locked in a massive 10-year U.S. Army agreement worth up to $10 billion. The AI and defense software specialist is also riding a tidal wave of retail investor demandranking third in net retail buying activity behind only Tesla (NASDAQ:TSLA) and Nvidia (NASDAQ:NVDA), per June data from Vanda Research. Sankar's journey is a classic tech underdog story. He joined Palantir as employee #13 after stints at Xoom Corp. and Stanford, helping build out the firm's on-the-ground engineer deployment model. Since becoming CTO in early 2023, his public profile has grownand so has his influence in the national security space. In June, Sankar was tapped to join the U.S. Army Reserve's Executive Innovation Corps, a new initiative aimed at modernizing defense through private-sector expertise. About two-thirds of his Palantir holdings are in Class B shares, giving him 10x the voting rightsbut still well below the control retained by Karp, Thiel, and Cohen via Palantir's controversial three-class structure. But not everything is blue skies. Sankar offloaded nearly $370 million worth of shares in late 2024his largest sale evercontributing to a $4 billion insider selling spree across Palantir leadership last year. While he still holds options that could be worth over $210 million, those moves have raised fresh questions about timing and long-term confidence. With Q2 earnings due soon, investors are watching whether Palantir's operational momentum can keep pace with its soaring stockand whether the next leg up is powered by fundamentals or just hype. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Analyst updates Palantir stock forecast before key earnings
Analyst updates Palantir stock forecast before key earnings

Yahoo

timea day ago

  • Yahoo

Analyst updates Palantir stock forecast before key earnings

Analyst updates Palantir stock forecast before key earnings originally appeared on TheStreet. Palantir () , the hot AI stock that's doubled this year, is making waves again. The company has recently secured another contract with the U.S. Army worth up to $10 billion over the next ten years. According to a release, Palantir will improve the Army's operational efficiency by creating a 'comprehensive framework for the Army's future software and data needs.' 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 The deal consolidates multiple contracts into a single enterprise agreement, giving the Army more flexibility in purchasing software and services. It also reduces procurement delays and contract-related fees. Palantir is known for providing AI-driven data analytics software to the U.S. government, military, and commercial clients. The stock soared 340% in 2024 as demand for AI infrastructure surged across sectors. Investors are now watching closely ahead of the company's second-quarter earnings report, which is set for August 4 after the bell. What to watch for Palantir's second quarter earnings Three months ago, Palantir delivered robust earnings for the first quarter and issued a strong forecast for the second, yet the stock tumbled 12% on the following trading day. Palantir's first-quarter revenue beat was primarily fueled by robust U.S. sales, which rose 55% year-over-year. U.S. commercial revenue jumped 71%, while government revenue grew 45%. U.S. revenue accounted for about 71% of the total."We are in the middle of a tectonic shift in the adoption of our software," CEO Alex Karp said. 'We are delivering the operating system for the modern enterprise in the era of AI. Consequently, we are raising our full-year guidance for total revenue growth to 36% and our guidance for U.S. commercial revenue growth to 68%.' Palantir projects second-quarter revenue of $934 million to $938 million, surpassing the consensus estimate of $899.1 million. Just days ahead of its second-quarter earnings report, Palantir was trading near record levels. On July 31, the stock reached an all-time intraday high of $160.89. It closed at $154.27 on August 1, weighed down by a broader market slump. With that sharp surge, investors question whether Palantir's valuation is running too far ahead of its fundamentals. The stock currently trades at 277x forward earnings, well above other software providers like Microsoft () , which is 34x, and Salesforce () , which is 22x. Still, D.A. Davidson's head of technology research, Gil Luria, argued that Palantir is being driven up by 'very loyal' individual investors who prioritize the company's mission over its valuation. Analyst bullish on Palantir stock before earnings Wedbush reiterated an outperform rating and a price target of $160 for Palantir stock ahead of its earnings, according to a recent research note. Analysts led by Daniel Ives said the recent deal with the U.S. Army represents an additional tailwind, which places Palantir in the sweet spot to benefit from "a tidal wave of federal spending on AI.""We continue to believe that Palantir's unique AI software approach will be a positive growth catalyst as governments look to further increase efficiency with more software/lower headcount," Ives wrote. The analysts expect to hear more about this deal and strong AI-driven results when Palantir reports earnings. More Palantir Veteran trader surprises with Palantir price target and comments Musk moves xAI, Grok onto Palantir turf Veteran analyst sends bold message on Palantir stock target Palantir makes surprise move into weather This note follows Wedbush's earlier update on July 10, when the firm raised its price target on the stock from $140 to $160. "We believe Palantir has a 'golden path to become the next Oracle' over the coming years and while the valuation is expensive today we see the Messi of AI as a core winner in the trillions of AI spend over the next few years," Ives updates Palantir stock forecast before key earnings first appeared on TheStreet on Aug 3, 2025 This story was originally reported by TheStreet on Aug 3, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store