LYRtech Awarded a New Electronic Defence System Contract by DREV

QUEBEC CITY, Oct. 2 /CNW/ - LYRtech inc.'s (CDNX: LYT - news) Defence and Aerospace division (LDA) has been awarded a contract to develop radar technology by Defence Research Establishment Valcartier (DREV). This technology will be applied to an all-terrain vehicle used for reconnaissance and data analysis. Management at LYRtech estimates the value of the contract at $270,000, bringing the total amount of development contracts signed between the two organisations in the last twelve months to close to one million dollars.

"This contract in the field of electronic defence technologies is of strategic importance to our company," stated Louis N. Bélanger, LYRtech Executive Vice-President and CEO. "Moreover, this latest contract with DREV, a long-term partner, confirms our expertise in the field of digital signal processing technology applied to radio frequencies."

For his part, Denis Faubert, Director General of DREV, stated he was happy about outsourcing this market segment to LYRtech. "Government laboratories have a leverage effect on business competitiveness. It is in this perspective that long-term relationships with companies such as LYRtech substantiate our readiness to enter into agreements with the private sector so that they may benefit from our know-how in several fields. Thus DREV continues to act as a driving force in technological innovation in the Quebec region," he affirmed.

More precisely, the combined R&D efforts of LYRtech and DREV will result in the development of new radar detection technologies that fall within the framework of innovation in FAVS (Future Armoured Vehicle Systems) or National Defence's DAS (Defensive Aid Suite).

"In the course of the last year, contracts undertaken with DREV have resulted in the development of a miniature laser sensor head and new radar technologies in related projects," maintained Mr. Bélanger. "Our involvement in our capacity of expert in laser sensors, detection and particularly radio frequencies is also serving to position us on civilian and wireless telecommunications markets.

Established in the region for over 50 years, DREV is the largest and most diversified of the five research centres of Defence R&D Canada, an agency of the Department of National Defence. DREV is acknowledged as an historic player in the industry with its 330 employees, including 220 scientists and technicians. The research centre operates with an annual budget of $60 million and R&D contracts assessed at $20 million. (http://www.drev.dnd.ca/)

LYRtech inc. occupies an important place on the world-wide digital signal processing (DSP) technology market. These technologies are central to network and wireless telecommunications, audio and image processing, the electronics of defence avionics systems and opto-electronics. LYRtech inc. has established partnerships with industry leaders in the field such as Texas Instruments, Xilinx, The MathWorks, Analog Devices and Infineon Technologies, as well as with EXFO Electro-Optical Engineering in the optical field.

LYRtech inc. is a public corporation whose shares are listed on the CDNX under the ticker abbreviation LYT. LYRtech employs a staff of about sixty-five and exports to more than fifteen countries world-wide. (www.lyrtech.com).