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Arotech’s Realtime Technologies Selected to Receive 2014 Tibbetts Award
 

Royal Oak, Michigan – June 16, 2014 – Realtime Technologies (RTI), a part of Arotech Corporation’s (NasdaqGM: ARTX) Training and Simulation Division, was announced as a winner of the Small Business Administration (SBA) Tibbetts Award today in Washington, D.C., for their technological advancements, regional economic impact, and their support and encouragement of engineering students at local universities.  RTI was one of 23 small businesses and two individuals honored today by the Small Business Administration in Washington, D.C., for the critical role they play in research and development for the government and for their success in driving innovation and creating new jobs. RTI was specifically recognized for being able to provide innovate and advanced driving simulators that enable the safe, timely, and cost-effective gathering of driving data as it relates to the development of vehicles, training of drivers, and research into driving behaviors under a variety of conditions.

After receiving the award, RTI president Richard Romano stated, "I am very proud to accept this award on behalf of Realtime Technologies, Inc.  I would like to thank the Small Business Administration and the U.S. Army for their excellent implementation of the SBIR program."

The presentation was made at the White House by Mr. Javier Saade, Associate Administrator for the SBA, who issued the following statement: "Today, we recognize the cream of the crop - those companies and individuals across the country that have used their SBIR funds to successfully advance technological innovation and stimulate economic growth."

During the ceremony Maria Contreras-Sweet, SBA Administrator, noted that, "It is the innovative entrepreneurs and high growth small businesses like our award recipients and Hall of Fame inductees who help power our economy and move it forward  by creating new jobs and making our industries globally competitive.  Their accomplishments remind us all of how integral the success of high growth small businesses are to making our country more globally competitive."

About the Tibbetts Award

The Tibbetts Awards was named after Roland Tibbetts, who was instrumental in developing the Small Business Innovation Research (SBIR) program.  Tibbetts Awards are presented to companies and individuals from the United States who are beacons of promise and models of excellence in high technology.  Winners are selected based on the economic impact of their technological innovation, and the extent to which that innovation served federal R&D needs, encouraged diverse participation and increased the commercialization of federal research. The Tibbetts Awards are presented to small businesses and individuals judged to exemplify the best in the SBIR program. 

About The Small Business Administration:

Created in 1953, the U.S. Small Business Administration (SBA) helps Americans to start, grow and succeed with their own companies. The Agency's mission is described as the three C's: facilitating access to capital, providing counseling, and ensuring emerging businesses receive a quarter of Federal contract dollars.

The Small Business Administration (SBA) is a United States government agency that provides support to entrepreneurs and small businesses. The mission of the Small Business Administration is "to maintain and strengthen the nation's economy by enabling the establishment and viability of small businesses and by assisting in the economic recovery of communities after disasters". The agency's activities are summarized as the "3 Cs" of capital, contracts and counseling.

The SBA's SBIR/STTR programs accounted for more than $2.5 billion in FY 2013 in federal research and development funds and is coordinated by the SBA in cooperation with 11 federal agencies.

About Realtime Technologies:

Realtime Technologies (RTI) specializes in real time multi-body vehicle dynamics, and graphical simulation and modeling. RTI offers simulation software applications, consulting, custom engineering, software, and hardware development. RTI’s customer base includes university researchers throughout the U.S. and Canada, international, government and private entities. Founded in 1998, RTI is based in Royal Oak, Michigan and has a satellite office in South Jordan, Utah.

About Arotech’s Training and Simulation Division:

Arotech’s Training and Simulation Division (ATSD) provides world-class simulation based training solutions.  ATSD develops, manufactures, and markets advanced high-tech multimedia and interactive digital solutions for engineering, use-of-force, and driver training simulations for military, law enforcement, security, municipal and private industry personnel. The division’s fully interactive driver-training systems feature state-of-the-art vehicle simulator technology enabling training in situation awareness, risk analysis and decision-making, emergency reaction and avoidance procedures, and conscientious equipment operation. The division’s use-of-force training products and services allow organizations to train their personnel in safe, productive, and realistic environments. The division provides consulting and developmental support for engineering simulation solutions. The division also supplies pilot decision-making support software for the F-15, F-16, F-18, and JSF aircraft, as well as simulation models for the ACMI/TACTS air combat training ranges.

Arotech’s Training and Simulation Division consists of FAAC Incorporated (www.faac.com) and its divisions IES Interactive Training (www.ies-usa.com), and Realtime Technologies (www.simcreator.com). 

About Arotech Corporation:

Arotech Corporation is a leading provider of quality defense and security products for the military, law enforcement and homeland security markets, including multimedia interactive simulators/trainers, and advanced zinc-air and lithium batteries and chargers. Arotech operates through two major business divisions: Training and Simulation, and Battery and Power Systems. 

Arotech is incorporated in Delaware, with corporate offices in Ann Arbor, Michigan, and research, development and production subsidiaries in Alabama, Michigan, South Carolina and Israel. For more information on Arotech, please visit Arotech’s website at www.arotech.com

Contact: Clayne A. Woodbury
Phone: (801) 647-4672

Except for the historical information herein, the matters discussed in this release include forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, and are subject to various risks and uncertainties that may cause actual results to vary materially. These risks and uncertainties are detailed in Arotech’s most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2013, and other filings with the Securities and Exchange Commission.

 

 
 
 
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Realtime Technologies, Inc.
© Copyright 2004-2013 Realtime Technologies Inc. All rights reserved.

Realtime Technologies Inc. (RTI) specializes in real time multibody vehicle dynamics, and graphical simulation and modeling.  We offer simulation software applications, consulting, custom engineering, software, and hardware development.  Realtime Technologies’ customer base includes international, government and private entities.  RTI was founded in 1998.