Stun-gun manufacturer Taser International Inc. said Wednesday it received follow-on funding of more than $515,000 from the Defense Department through the Marine Corps and the Office of Naval Research.
The research contract is in response to Taser's proposal to continue the development of its new Extended Range Electronic Projectile technology, a shoulder-fired projectile that delivers a wireless electro-muscular disruption effect at extended ranges.
Under Phase III and IV of the company's work on the technology, Taser will refine aeroballistics of the projectile, develop a final design for prototype demonstration, and test the design before moving to a manufacturing phase.
"The effective range and blunt impact characteristics for the projectile will be comparable to existing blunt impact devices such as 'bean bag' rounds and 40 millimeter impact munitions with the added capability of true incapacitation through the Taser electro-muscular disruption effect," said chief executive officer Rich Smith.
The company said the extended range projectile won't compete with its current hand-held, belt-holstered Taser systems, but will target a new market for systems that can reach more than 100 feet.
Shares of Taser were up 1.6 percent, or 44 cents, at $28.47 in morning trading on the Nasdaq National Market.