Valley Forge Technologies Inc. (OTCBB: VLYF) shares are up $1.05, nearly 14 percent, to $8.80, rolling off this morning’s news. Today the developer and manufacture of next generation detection and aerospace systems announced it has signed an agreement with NASA in which Valley Forge will provide Attitude Control Instruments to fit NASA specifications.
According to the statement, the company’s experience with satellite momentum wheels and bearing fields allowed it to produce a composite rotor that is lighter, more stable, and less expensive than currently used metal rotors.
“Our aerospace section is rapidly evolving and this venture represents a fantastic opportunity. We are continually working to provide simple, high performance space technologies and look forward to becoming an ongoing supplier for NASA,” Randy Broadright, Valley Forge chief of operations, said in the statement.
However, Lou Brothers, CEO of Valley Forge, told MN1 that this morning’s news may not be the only reason for stock activity, but rather a reflection of the general recognition that the country needs to be protected and that his company can provide technologies to do that.
The company’s THOR LVX and ODIN systems are detection technologies for use on cargo and humans, respectively, capable of detecting explosives, nuclear materials and other dangerous substances.
“It’s not just the news … people are voting with their belief that the country needs this technology and that they want to be safe and they want cargo scanned. Everybody knows there’s a need for it. I think some of the stock is a reflection of the people actually voting that this is important to them,” Brothers said. “We’ve worked a long time to finalize the products and to roll them out to market and the fact that that is relatively around the corner I think there’s a lot of excitement about the stock.”
Still, the company welcomes the contract with NASA and Brothers said he understands the responsibilities that product recognition and more contracts bring.
“It’s very rewarding – I’m humbled by the response we’ve gotten. Of course now we have some serious responsibility here and we intend to do our job,” Brothers said.
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