Sarcos Defense Bags US Army Contract Worth $1M

Sarcos Technology and Robotics Corporation STRC subsidiary Sarcos Defense has secured a $1 million contract from the Army Applications Laboratory, U.S. Army Futures Command.
The contract is for testing a robotic solution that Sarcos developed for ammunition handling and maneuvering.
Sarcos will perform testing on the robotic system to ensure it meets requirements for Army use, including shock and vibration absorption.
The robotic system was designed to address fatigue and injuries among soldiers caused by the prolonged lifting and placing of 100-pound rounds of ammunition from a rack to the cannon loader.
"Our ultimate goal with the development of this robotic ammunition solution is to help the Army successfully accomplish their missions with lower rates of injury by having a robot lift and place the heavy ammunition rounds," said Reeg Allen, VP of business development, Sarcos.
Price Action: STRC shares are trading lower by 9.44% at $1.05 on the last check Thursday.