REG - Narf Industries PLC - Large Contract Win

Narf IndustriesAnnouncement

14/10/2022 07:00

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RNS Number : 8703C  Narf Industries PLC  14 October 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED.  ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

14 October 2022

 

NARF INDUSTRIES PLC

 

NEW LARGE R&D CONTRACT WIN WITH DARPA

 

Narf Industries plc ("Narf", the "Company", or the "Group") (LSE: NARF)(OTCQB:
NFIN.F) the cybersecurity group specialising in high-end threat intelligence
and critical infrastructure security is pleased to announce that its
subsidiary, Narf Industries LLC, has signed a large multi-million dollar
Research & Development ("R&D") contract with the US Government's
Defense Advanced Research Projects Agency ("DARPA"), (the "Contract").

 

Highlights

●     Large R&D Contract for $6.3m starting immediately

●     Feeding the Revenue Pipeline for Narf and further establishing
relationship with DARPA and the US Department of Defense ("DoD")

●     Narf's commercialisation efforts of R&D results could start by
the end of 2023

●     See DARPA's announcement
(https://www.darpa.mil/news-events/2022-10-13) for details on HARDEN

 

Contract Details

Narf has signed a contract (the "Contract") with DARPA
(https://www.darpa.mil/) for work to commence immediately. The commercial
revenue value of the Contract to Narf is $6.3 million. The Contract falls
under DARPA's Hardening Development Toolchains Against Emergent Execution
Engines ("HARDEN
(https://www.darpa.mil/program/hardening-development-toolchains-against-emergent-execution-engines)
") program.  Narf will own and have sole responsibility for commercialising
the Intellectual Property rights arising from the R&D work. The US
Government will retain "right of use" access on normal commercial terms.

 

Narf has been building its relationship with the DoD over recent years and
this new contract is now the third specific DARPA programme that Narf has been
involved with in the last 18 months. The first two of which have resulted in
products moving closer to commercialisation, being Narf's SAFEDOCS and RANGER
products.

 

CEO, Steve Bassi, said: "This is the largest single R&D contract in Narf's
history. Whilst it may be too early to be definitive on the eventual
commercial potential of Product(s) spun out of the R&D work, we are
anticipating it to be substantial. We will know more as the program develops.

A lot of credit goes to the team. They have, again, proven their ability to
win contracts for development of highly advanced, path-breaking, cyber
security systems. I'll be updating shareholders as our R&D efforts
progress towards commercializable results."

 

ENDS

For further information please see Narf's blog post
(https://blog.narfindustries.com/) , visit www.narfgroup.com
(http://www.narfgroup.com) or contact:

 Robert Mitchell                                   NARF                 Tel: +44 (0) 20 3468 2212
 Catherine Leftley/Charlotte Page/Isabel de Salis  St Brides Partners   narf@stbridespartners.co.uk
 Peter Krens                                       Tennyson Securities  Tel: +44 (0)207 186 9030

 

 

About NARF Industries plc

Narf Industries (LSE: NARF)(OTCQB: NFIN.F) is a US based cyber security group
specialising in high-end threat intelligence with a focus on critical
infrastructure. The Group leads commissioned cyber security R&D and is
commercialising a portfolio of products including TIGR that can be used by
utilities and cyber first responders to restore power to electric grids and
protecting other key infrastructure that have suffered a cyber-attack. The
Group aims to further strengthen its portfolio organically and via
acquisition; its team of highly qualified cyber security experts is well
placed to identify opportunities.

 

Important notice

The content of this announcement has not been approved by an authorised person
within the meaning of the Financial Services and Markets Act 2000 (FSMA). This
announcement has been issued by and is the sole responsibility of the Company.
The information in this announcement is subject to change. This announcement
is not an offer of securities for sale into the United States. The securities
referred to herein have not been and will not be registered under the U.S.
Securities Act of 1933, as amended (the Securities Act), and may not be
offered or sold, directly or indirectly, in or into the United States, except
pursuant to an applicable exemption from registration. No public offering of
securities is being made in the United States. This announcement is not for
release, publication or distribution, directly or indirectly, in or into
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