Loading, Please Wait...
Drone Aviation Holding Corp. (OTCQB: DRNE) (“Drone Aviation” or the “Company”), a developer of specialized, tethered aerial monitoring and communications platforms serving national defense and homeland security customers, today announced that it has completed a U.S. Army safety and performance review and delivered multiple WASP Lite aerostat systems to the customer under the $1.1 million award announced in May 2019. The first-of-its-kind, the WASP Lite systems successfully completed extensive customer operational flight safety and performance testing in Jacksonville and were then shipped to the U.S. Army for transportation to currently deployed ground forces.
In contrast to expensive large aerostat systems, WASP Lite is a new generation of easily transportable and operationally mobile aerostats, the results of significant collaborative product development, testing and operational evaluations conducted with the U.S. Army. WASP Lite is multi-mission capable featuring a plug and play payload configuration enabling troops in the field to quickly add ISR and communications equipment to match their mission and can be carried by two soldiers, dropped from a helicopter or transported in the back of a small pickup truck. A new product video is now available at: https://www.droneaviationcorp.com/solutions/wasp-lite and on the Company’s YouTube channel here: https://www.youtube.com/watch?v=FTPlWe9Ig6U
The May 2019 award was the first received by the Company for the WASP Lite and included multiple units, sustainment and soldier training.
“Acceptance testing and delivery of our first production run of WASP Lite systems to the Army is an exciting milestone and we are especially proud that these new systems will be providing critically-needed battlefield communications capabilities for the brave men and women deployed on the ground overseas,” said Jay Nussbaum, Chairman and CEO of Drone Aviation. “I am pleased that we were able to leverage our recent investments in manufacturing capacity and inventory to deliver these products in record time.”
The WASP Lite system is an ultra-tactical persistent aerial asset designed to be easily portable in a series of ruggedized cases and is quickly deployable to fill vital capability gaps on the battlefield. It utilizes the proven capabilities of the Company’s larger WASP tactical aerostat system incorporated into a highly mobile, minimized footprint design. WASP Lite is a compact, non-trailer based, persistent aerostat system that can be setup and deployed virtually anywhere – on the ground, on a building rooftop or on the back of a vehicle – and operated while stationary or while moving up to 40 mph. It can be deployed up to 1,000 ft. and supports a wide range of in-field swappable payloads including multiple simultaneous communications waveforms, ISR and signal intelligence (SIGINT) enabling operators to choose the best configuration to match their mission.
About Drone Aviation Holding Corp.
Drone Aviation Holding Corp. (OTCQB: DRNE) develops and manufactures cost-effective, compact and rapidly deployable aerial platforms including lighter-than-air aerostats and drones designed to provide government and commercial customers with enhanced surveillance and communication capabilities. Utilizing a patented tether system, Drone Aviation’s products are designed to provide prolonged operational duration capabilities combined with improved reliability, uniquely fulfilling critical requirements in military, law enforcement, commercial, and industrial applications. For more information about Drone Aviation, please visit www.DroneAviationCorp.com or view our reports and filings with the Securities and Exchange Commission at http://www.sec.gov, including the Risk Factors included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2018, as well as information in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Statements in this press release that are not historical facts are forward-looking statements that reflect management’s current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as “believe,” “expects,” “may,” “looks to,” “will,” “should,” “plan,” “intend,” “on condition,” “target,” “see,” “potential,” “estimates,” “preliminary,” or “anticipates” or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects. Moreover, forward-looking statements in this release include, but are not limited to, those relating to: the ability to support future military needs for advanced voice and data communications applications, the continuation of growing demand for drones for military and state and local law enforcement authorities. The Company’s financial results and the forward-looking statements could be affected by many factors, including, but not limited to, demand for the Company’s products and services, economic conditions in the U.S. and worldwide, changes in appropriations by Congress and reduced funding for defense procurement and research and development programs, and our ability to recruit and retain management, technical, and sales personnel. Further information relating to factors that may impact the Company’s results and forward-looking statements are disclosed in the Company’s filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Steve Gersten, Investor Relations Drone Aviation Holding Corp. 813-334-9745 email@example.com Bret Shapiro, Managing Director CORE IR 561-479-8566 firstname.lastname@example.org Michael Glickman, Media Relations Drone Aviation Holding Corp. 917-397-2272 email@example.com