Frequency Electronics, Inc. to Develop Family of Next Generation Atomic Clocks

MITCHEL FIELD, N.Y., Aug. 18, 2021 (GLOBE NEWSWIRE) -- Frequency Electronics, Inc. (“FEI” or the “Company”) (NASDAQ-FEIM) today announced it will develop a family of next generation pulsed laser Rubidium atomic clocks. These clocks will provide significantly improved performance compared to what is currently available and will include configurations for military space, terrestrial tactical applications and the commercial market.

Dr. Thomas McClelland, FEI’s Chief Scientist commented, “It is gratifying to see this technology move from our lab into product development. The key technical challenges essential to producing a high performance, high reliability and cost effective pulsed laser atomic clock have largely been solved and what remains now is to complete product design. Application of pulsed laser technology and its associated control electronics has proven to be a breakthrough. We envision that our resulting products will have at least 10x better time stability enabled by this technology. This represents a significant accomplishment.”

FEI CEO Stan Sloane added, “We are extremely excited to be embarking on this development, which began originally in 2016 with a contract from the government to design a Pulsed Optically-pumped Rubidium Atomic Clock (POPRAFS). That work has continued and the key technical risks have now been addressed such that we can commit to finalizing development and then moving quickly to production. This family of atomic clocks will be a game changer in the global atomic clock market, a multi-hundred million dollar opportunity set.”

About Frequency Electronics

Frequency Electronics, Inc. is a world leader in the design, development and manufacture of high precision timing, frequency generation and RF control products for space and terrestrial applications. Frequency’s products are used in satellite payloads and in other commercial, government and military systems including C4ISR and electronic warfare, missiles, UAVs, aircraft, GPS, secure communications, energy exploration and wireline and wireless networks. Frequency has received over 100 awards of excellence for achievements in providing high performance electronic assemblies for over 150 space and DOD programs. The Company invests significant resources in research and development to expand its capabilities and markets.

Frequency’s Mission Statement: “Our mission is to provide precision time and low phase noise frequency generation systems from 1 Hz to 50 GHz, for space and other challenging environments.”

Subsidiaries and Affiliates: FEI-Zyfer provides GPS and secure timing ("SAASM") capabilities for critical military and commercial applications; FEI-Elcom Tech provides Electronic Warfare (“EW”) sub-systems and state-of-the-art RF microwave products. Additional information is available on the Company’s website: www.frequencyelectronics.com

Contact information: Dr. Stanton Sloane, President & Chief Executive Officer; Steven Bernstein, Chief Financial Officer;

TELEPHONE: (516) 794-4500 ext.5000         WEBSITE:        www.freqelec.com