Teledyne Awarded $17.6 Million Contract for Upgraded Space Power Components

  Teledyne Awarded $17.6 Million Contract for Upgraded Space Power Components

Business Wire

THOUSAND OAKS, Calif. -- May 6, 2014

Teledyne Technologies Incorporated (NYSE:TDY) announced today that its
subsidiary, Teledyne Energy Systems, Inc., in Hunt Valley, Md., was awarded a
contract by the Jet Propulsion Lab (JPL) for a technology transfer and flight
hardware upgrade program which could be valued up to $17.6 million. This
program is a continuation of a phase 1 contract started in 2013. The new award
is for phases 2 and 3 that begin in 2014 and would conclude in 2018.

This Technology Maturation Program will transfer JPL’s lab scale skutterudite
thermoelectric material production processes, sponsored by the NASA
Radioisotope Power Systems Program, and mature them into flight-like materials
and components. These components could be incorporated into an enhanced MMRTG
(Multi Mission Radioisotope Thermoelectric Generator) or eMMRTG. The original
MMRTG was developed for NASA by Teledyne and Aerojet Rocketdyne, under a U.S.
Department of Energy led program. An MMRTG is currently providing power to the
Mars Curiosity rover, which successfully landed on Mars in August 2012. It is
expected that the eMMRTG would have a 25-30% higher efficiency than the MMRTG.

“We are happy to build on our more than 40-year heritage of providing power
systems for NASA’s deep space missions,” said Robert Mehrabian, Chairman,
President and Chief Executive Officer of Teledyne Technologies. “The SNAP-19
RTG on the Pioneer and Viking missions and now the MMRTG on the Mars Curiosity
rover provide the highest level of reliability to support NASA’s critical
science missions. The new thermoelectric materials in the eMMRTG should enable
the next evolutionary step providing more capability to future space
missions.”

Teledyne Energy Systems, Inc., a wholly-owned subsidiary of Teledyne
Technologies, is a leader in providing advanced technologies and products to
customers seeking solutions for their toughest energy requirements in the most
demanding environments. For more information on its technologies and products
visit www.teledynees.com

Teledyne Technologies is a leading provider of sophisticated instrumentation,
digital imaging products and software, aerospace and defense electronics, and
engineered systems. Teledyne Technologies’ operations are primarily located in
the United States, Canada, the United Kingdom, and Western and Northern
Europe. For more information, visit Teledyne Technologies’ website at
www.teledyne.com.

Aerojet Rocketdyne is a division of GenCorp, and is a world-recognized
aerospace and defense leader providing propulsion and energetics to the space,
missile defense, strategic, tactical missile, and armaments areas in support
of domestic and international markets. GenCorp is a diversified company
providing innovative solutions to its customers in the aerospace and defense,
and real estate markets. Additional information about Aerojet Rocketdyne and
GenCorp can be obtained by visiting the companies’ websites at www.Rocket.com
and www.GenCorp.com.

The California Institute of Technology in Pasadena, Calif., manages JPL for
NASA’s Science Mission Directorate, Washington, D.C. www.jpl.nasa.gov

Forward-Looking Statements Cautionary Notice

This press release contains forward-looking statements, as defined in the
Private Securities Litigation Reform Act of 1995, relating to a contract
award. Actual results could differ materially from these forward-looking
statements. Many factors could change anticipated results, including funding,
continuation and award of government programs, as well as cuts to government
spending resulting from future deficit reduction measures.

Contact:

Teledyne Technologies Incorporated
Investor Contact:
Jason VanWees, (805) 373-4542
or
Press Contact:
Robyn McGowan, (805) 373-4540
 
Press spacebar to pause and continue. Press esc to stop.