Castellum, Inc. Secures $66.2 Million Defense Contract Award

Castellum, Inc. Wins Major Contract to Expand Defense Services

Castellum, Inc. (NYSE-American: CTM), a prominent player in the fields of cybersecurity, electronic warfare, and software engineering, has recently achieved a remarkable milestone. The company announced a significant contract award amounting to $66.2 million through its subsidiary, Specialty Systems, Inc. This contract spans five years and is focused on delivering vital logistics, engineering, and cyber support services for the federal government.

Contract Details and Strategic Importance

The new contract is notable for being Castellum's first full and open prime contract without small-business set-aside limitations. This is also recorded as the second-largest contract win in the company’s extensive history. It reflects Castellum’s strategic revolution as it transitions into being a larger player in the defense sector. The company’s success echoes its commitment to focusing on existing opportunities, further solidifying its position.

Support from Naval Air Warfare Center

This contract is tied to the Naval Air Warfare Center Aircraft Division (NAWCAD) Lakehurst and encapsulates various support initiatives including Mission Operations & Integration (MO&I) Department services. NAWCAD LKE plays a crucial role in ensuring the functionality of Navy Aircraft Platform Support Equipment, Aircraft Launch Recovery Equipment, and other Joint Service initiatives that involve Foreign Military Sales (FMS) and Department of Defense (DoD) programs.

Strengthening Core Services

Under this contract, Specialty Systems, Inc. is poised to enhance its services, directly impacting the efficiency of logistics, engineering, and cyber operations for both aircraft carriers and air-capable vessels. This vital contribution is expected to significantly uplift the technological capabilities that Castellum offers to its mission customers.

Leadership Insights

Drew Merriman, Chief Operating Officer of Castellum, shared his enthusiasm about this significant contract, stating, "This win is a testament to the dedication of our SSI leadership and CTM professionals. Our focused approach toward capturing full and open opportunities is yielding excellent results." He highlighted that this award builds upon previous successes, including a contract win exceeding $103 million announced earlier this year, showcasing a thriving momentum within the organization.

Commitment to National Security

Glen Ives, President and CEO of Castellum, expressed pride in the team’s accomplishments. He stated, "This new opportunity significantly enhances our mission, broadens our technological capacity, and strengthens our dedication to supporting national security initiatives worldwide. We are committed to ongoing organic growth and reinvesting in our technological advancements to drive future successes." The leadership believes that these achievements are a reflection of the hard work and resilience of their dedicated professionals.

Future Growth and Development

Looking ahead, Castellum intends to leverage this contract not just for immediate gains but for long-term strategic growth. The prospect of expanding service areas and increasing operational capacity is high. They aspire to develop innovative technological solutions while considering the right acquisition strategies that can further propel their business forward.

About Castellum, Inc.

Castellum, Inc. (NYSE-American: CTM) is dedicated to providing leading-edge services in cybersecurity and electronic warfare, emphasizing its role in supporting the federal government. With a robust commitment to growth and integrity, Castellum seeks to reinforce its service capabilities in an ever-evolving defense landscape.

Frequently Asked Questions

What is the significance of the $66.2 million contract for Castellum, Inc.?

This contract represents Castellum’s first full and open prime contract, marking a pivotal point in its growth strategy and enhancing its service offerings to the federal government.

How does this contract benefit the federal government?

This contract will provide essential logistics, engineering, and cyber support services, strengthening capabilities for naval operations and enhancing overall national security.

What are the future implications of this contract for Castellum?

The award allows Castellum to expand its operations, improve technological capabilities, and develop new solutions while focusing on organic growth.

Who are the key leaders in Castellum, Inc.?

Drew Merriman serves as the COO, and Glen Ives is the President and CEO, both of whom have emphasized the importance of this contract for the company’s strategic direction.

What are Castellum’s core competencies?

Castellum specializes in cybersecurity, electronic warfare, and providing software engineering services, predominantly focusing on the federal government's needs.

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