Last Friday’s after-hours trading saw significant momentum for Frequency Electronics, Inc. (NASDAQ: FEIM) shares, which increased by 6.24% to close at $16.00. The increase happened after the business revealed that it had landed a sizable subcontract with Leidos to create a next-generation Nitrogen Vacancy (NV) Diamond Magnetometer.
Pioneering Navigation using Quantum Sensing
The subcontract that was granted advances the development of a small and extremely sensitive quantum magnetometer that uses diamonds’ nitrogen vacancy centers to detect minuscule magnetic fields.
This state-of-the-art technology is intended for use with magnetic navigation systems, especially in locations where GPS signals are weak or nonexistent. The NV Diamond Magnetometer is a reliable substitute for traditional sensing techniques and is designed for deployment in challenging operational environments.
Strategic Partnership with MIT-Lincoln Labs and Leidos
With this project, Frequency Electronics, Leidos, and MIT-Lincoln Laboratory are working together to advance the field of quantum magnetometry. The effort emphasizes how quantum sensing, a novel subject with enormous potential for enhancing situational awareness, navigation, and intelligence gathering, is gaining more attention from the scientific community and the military.
Frequency Electronics will lead the design, prototype, and testing of the system over the course of its multi-year development period, enhancing its position as a pioneer in frequency control and accurate timing solutions.
Another Contract Highlights Ongoing Development
A $12 million contract increase for a specialized airborne time, synchronization, and frequency distribution system was announced concurrently by FEI-Zyfer, Inc., a fully owned subsidiary of Frequency Electronics. This contract calls for deliveries through 2027.
The growing need for cutting-edge airborne timing technologies essential to national defense is reflected in this award, which also strengthens FEIM’s position in the high-performance frequency domain.
Together, these agreements place FEIM at the vanguard of quantum-enabled innovation and demonstrate Frequency Electronics’ ongoing leadership in creating cutting-edge technology for use in science, aerospace, and military.
