Azure Summit Technology

Azure Summit Technology's contracts represent complex research and development work culminating in prototyping/production work. Our success can be traced to our involvement in the DoD SBIR program. In 2014 alone, Azure projected 21 new awards totaling $19 million in backlog, of which $16 million is already funded. Many of these 21 awards include options that are not currently funded, and we are expecting these to be exercised and funded in 2015 and beyond. More than 95% of these new bookings are SBIR awards at all stages of the SBIR life cycle (Phase I, II and III), demonstrating continued customer confidence in our capabilities as well as our strength in using the SBIR program as a launch point toward commercialization of our technology. Azure has developed excellent customer relationships and we partner closely with our customers to ensure that our technology roadmap is in line with current and emerging needs. The ability to leverage the data rights associated with funded SBIR work will help us achieve our goals of producing commercialized product lines in the future. Separately, Azure strongly invests Independent Research and Development (IR&D) funding in technologies that supplement our portfolio of SBIR-developed capabilities, which we believe further strengthens our data rights position and maximizes potential for transition to commercialization. Azure also continues to develop our network of large corporate partners, with whom we work to ensure that our research and technology offering is on target with our customers' technology needs trajectory and our future commercialization requirements. Our large partners are also the means by which we plan to transition most projects from the R&D stage into production, allowing us to maintain high standards of excellence in innovation and new concept development, while leveraging the robust manufacturing facilities, staffing, and processes of our larger manufacturing partners.