My mate sent me this today. IPO will be at $1 a share
If it proves to be viable this could technology could change the face of modern warfare.
it kind of reminds me of MST with it's quickfire weapon technology.
Melbourne firm to revolutionise weapons technology
By Brendan Nicholson
January 30, 2006
A SMALL Melbourne company has made a breakthrough in weapons technology that could dramatically change the pace of modern warfare.
Polish immigrant Richard Giza has realised a lifetime dream by developing a system that removes the recoil when a rifle is fired. His company, Recoilless Technologies, will demonstrate its invention in Melbourne on Wednesday.
Company director and defence analyst Ross Babbage said it could have enormous implications for the international armaments industry.
A weapon without recoil means an end to the bruising thump on the shoulder provided by high-powered rifles, but the technology can also be applied to tanks and big naval guns.
Professor Babbage said that because a tank relied on its weight to stop it rocketing backwards each time it fired its gun, a much lighter tank could carry a bigger gun. That meant that more tanks could be carried on transport planes, getting more firepower into action quickly.
Retired Australian Army major-general Peter Dunn said the technology was revolutionary. "It has the potential to fundamentally transform the way ballistic weapons are deployed. Weapons will become lighter and much more mobile on the battlefield."
If the technology can be transferred to heavier weapons, it will also mean that more powerful guns can be fitted to ships and even aircraft.
Professor Babbage said he was amazed by the technology. "At first I was as cynical as hell. But it is clear now that this will allow a modern army to get a lot more firepower into the front line very quickly." He said the technology reduced the muzzle velocity and therefore the range of the rifle by less than 5 per cent.
He said the company was in discussions with Australian defence scientists and a major arms manufacturer from an allied country. He declined to name the company at this stage.
He said money raised in a share float would help fund the next stage of development. (http://www.theage.com.au/news/nation...469607153.html)