Frequency Electronics Awarded Subcontract from Leidos to Develop Advanced Nitrogen Vacancy Diamond Magnetometer for DIU's Transition Quantum Sensing Program

MITCHEL FIELD, N.Y., March 27, 2025 (GLOBE NEWSWIRE) -- Frequency Electronics, Inc. ("FEI" or the "Company") (NASDAQ-FEIM), a leading provider of precision timing and frequency technology, today announced it has been awarded a subcontract from Leidos (NYSE:LDOS) to develop a next-generation Nitrogen Vacancy (NV) Diamond Magnetometer.

The award supports the development of a compact, highly sensitive quantum magnetometer leveraging nitrogen vacancy centers in diamond to detect magnetic fields for magnetic navigation. The system is needed for alternative position, navigation in GPS denied and degraded environments. The NV Diamond magnetometer is very well suited for deployment in challenging operational environments where traditional sensing technologies are limited.

Dr. Thomas McClelland, President and CEO at Frequency Electronics said, "Quantum sensing is at the frontier of modern physics and defense technology. This subcontract reflects the growing demand for highly sensitive, reliable, and compact magnetic field sensors across defense, intelligence, and scientific applications. We are proud to collaborate with Leidos and MIT-Lincoln Labs in pushing the boundaries of quantum magnetometry."

The NV Diamond magnetometer will build upon Frequency Electronics' legacy of delivering advanced frequency control and timing solutions to government and commercial partners. The system will integrate state-of-the-art diamond-based quantum sensing with robust system engineering for field deployment.

As a subcontractor to Leidos, Frequency Electronics will lead the design, prototyping, and testing phases of the NV Diamond magnetometer over the multi-year effort. This initiative aligns with broader national investments in quantum technologies aimed at enhancing situational awareness, navigation, and detection capabilities.

About Frequency Electronics

Frequency Electronics, Inc. (FEI) is a world leader in the design, development and manufacture of high precision timing, frequency generation and RF control products for space and terrestrial applications. FEI's products are used in satellite payloads and in other commercial, government and military systems including C4ISR and electronic warfare, missiles, UAVs, aircraft, GPS, secure communications, energy exploration and wireline and wireless networks. FEI-Zyfer provides GPS and secure timing capabilities for critical military and commercial applications; FEI-Elcom Tech provides Electronic Warfare ("EW") sub-systems and state-of-the-art RF and microwave products. FEI has received over 100 awards of excellence for achievements in providing high performance electronic assemblies for over 150 space and DOD programs. The Company invests significant resources in research and development to expand its capabilities and markets.

www.frequencyelectronics.com

FEI's Mission Statement: "Our mission is to transform discoveries and demonstrations made in research laboratories into practical, real-world products. We are proud of a legacy which has delivered precision time and frequency generation products, for space and other world-changing applications that are unavailable from any other source. We aim to continue that legacy while adapting our products and expertise to the needs of the future. With a relentless emphasis on excellence in everything we do, we aim, in these ways, to create value for our customers, employees, and stockholders."

Forward-Looking Statements

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