BALTIMORE--(BUSINESS WIRE)--North American Wave Engine Corporation (“Wave Engine Corp.”), a leading innovator in the development of next gen high performance propulsion systems and aerial vehicles, today announced it has been awarded an Indefinite-Delivery/Indefinite-Quantity (IDIQ) contract with a 10-year period of performance including options.
This IDIQ contract is under the $46 billion ceiling Eglin Wide Agile Acquisition Contract (EWAAC), a novel contracting method that emphasizes agility and flexibility for rapid delivery of capabilities. With this award, Wave Engine Corp. joins a select group of contractors that are eligible to deliver technologies and capabilities using this innovative and agile $46 billion ceiling contracting mechanism over the next 10 years.
“Wave Engine Corp. looks forward to creating the technologies of tomorrow with the support and technical prowess of the USAF,” said Daanish Maqbool, CEO of Wave Engine Corporation. “With EWAAC, it is exciting to see the emphasis and innovation on the contracting process which plays a key role in determining the overall speed of technology development and deployment.”
About Wave Engine Corporation
Based in Baltimore, Wave Engine Corp. is a focused group of scientists, engineers and former Fortune 500 executives leveraging technological developments in propulsion, acoustics and combustion control to develop next generation aircraft and propulsion systems. Wave Engine Corp.’s technology enables an order-of-magnitude reduction in the cost and complexity of jet propulsion, making it practical for a wide variety of aviation platforms for which jet propulsion was previously cost-prohibitive. In Q2 2021, Wave Engine Corp. announced a $1 million contract with the USAF Armament Directorate to build and demonstrate the Versatile Air-Launched Platform (VALP) as part of the USAF’s efforts to develop high-impact technologies critical to the future of aviation and aerial combat. This award followed successful flight demonstrations in 2020 and a $3 million investment by DARPA in 2019.
Learn more at http://wave-engine.com