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FREMONT, Calif. - Actelis Networks, Inc. (NASDAQ:ASNS), a micro-cap technology company with a market capitalization of $6.09 million, has appointed Jason Chasse as Director of Federal Sales as part of its strategic initiative to expand in the federal and military markets, according to a press release issued Monday. According to InvestingPro data, the company has shown strong revenue growth of 73% over the last twelve months, despite challenging market conditions.
Chasse brings over 30 years of specialized federal sales experience, having held senior roles at technology companies including Recorded Future, Flexera, Brocade, and McAfee. He previously served as a SIGINT/Electronic Warfare Analyst and Intelligence School Instructor in the Army Intelligence Corps.
The company, which provides cyber-hardened networking solutions, stated that its products are listed on the Department of Defense Information Network (DoDIN) Approved Products List following Joint Interoperability Test Command and National Institute of Standards and Technology FIPS certifications.
"We are accelerating our federal and military market efforts based on the recent market developments," said Tuvia Barlev, Chairman and CEO of Actelis. The company’s stock, currently trading at $0.67, has experienced significant volatility, trading between $0.53 and $2.73 over the past 52 weeks. InvestingPro analysis reveals 10+ additional insights about ASNS’s market performance and financial health, available exclusively to subscribers.
Actelis reports it has established relationships within the defense community with deployments across military installations, including recent contracts from U.S. Army installations and Army National Guard bases. The company’s GigaLine solution provides secure, multi-gigabit connectivity for base operations.
The company’s technology enables federal and military customers to achieve connectivity over existing infrastructure, reducing deployment time from months to days, according to the announcement.
Actelis Networks specializes in hybrid fiber-copper networking solutions for IoT applications in government, transportation, military, utility, rail, telecom, and campus networks.
In other recent news, Actelis Networks, Inc. has announced several developments across various regions. The company secured a new order to upgrade railway infrastructure in Northern Ireland, utilizing its hybrid-fiber networking solutions to enhance operations such as signaling and security. Additionally, Actelis received an order from a Japanese distributor to modernize critical infrastructure, including transportation and defense networks, emphasizing rapid deployment and cost savings. In the Nordic region, Actelis won a contract to improve a major city’s communications infrastructure as part of its smart city initiatives, further expanding its European presence.
In the United States, Actelis has been tasked with modernizing the intelligent transportation system in Orange County, California, aiming to improve traffic management with its high-speed, secure networking solutions. The company also announced changes to its board of directors, with Israel Niv retiring and Julie Kunstler and Gideon Marks taking on new roles to strengthen corporate governance. These recent developments highlight Actelis Networks’ continued growth and strategic expansion in the global market.
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