Red Cat Holdings Selected by U.S. Army as Finalist for Short Range Reconnaissance Tranche 2 Drone Program
14 Décembre 2023 - 8:30PM
Red Cat Holdings, Inc. (Nasdaq: RCAT) ("Red Cat'' or the
"Company"), a drone technology company integrating robotic hardware
and software for military, government, and commercial operations,
announces that its subsidiary Teal Drones (Teal) has been selected
by the Department of Defense’s (DoD) Defense Innovation Unit (DIU)
and the U.S. Army as one of two finalists competing in the Short
Range Reconnaissance Tranche 2 (SRR T2) Program of Record. As part
of being named a finalist, Teal will be awarded $3 million of
additional funding to support final prototype development and
completion of remaining SRR milestones.
Teal was previously one of three drone
manufacturers selected to develop a next-generation small unmanned
aerial system (sUAS) designed for intelligence, surveillance, and
reconnaissance (ISR) for the U.S. Army. The ultimate
goal of the SRR program is to provide small, rucksack portable sUAS
capabilities to Army platoons (20-50 soldiers) for situational
awareness beyond the next terrain feature.
“I’m excited to advance our collaboration with
the U.S. Army as we seek to provide the ideal solution for SRR. We
are grateful to have been selected as one of the two finalists in a
program that began with more than 37 bidding vendors,” commented
George Matus, founder of Teal and Red Cat’s Chief Technology
Officer. “We’re developing our next generation product from the
ground up to meet the highly specific requirements of SRR, with the
mission of providing warfighters superhuman capabilities.”
Teal 2, the Company’s current flagship product, is built in
Teal’s factory in Salt Lake City. It is an affordable, man-portable
sUAS designed to “Dominate the Night™.” Teal 2 has a best-in-class
night vision camera, fully modular design, multi-vehicle control,
and artificial intelligence capabilities. The drone is designed to
support U.S. military operations, public safety organizations, and
U.S. government agencies in a variety of environments. It is both
Blue UAS Certified, which indicates its approval by the Department
of Defense, and FAA Remote ID approved.
About Red Cat Holdings, Inc. Red Cat
(Nasdaq: RCAT) is a drone technology company integrating robotic
hardware and software for military, government and commercial
operations. Red Cat’s solutions are designed to “Dominate the
Night™” and include the Teal 2, a small unmanned system offering
the highest-resolution thermal imaging in its class. Learn more at
www.redcatholdings.com.
Forward-Looking Statements This press
release contains "forward-looking statements" that are subject to
substantial risks and uncertainties. All statements, other than
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although not all forward-looking statements contain these words.
Forward-looking statements are based on Red Cat Holdings, Inc.'s
current expectations and are subject to inherent uncertainties,
risks and assumptions that are difficult to predict. Further,
certain forward-looking statements are based on assumptions as to
future events that may not prove to be accurate. These and other
risks and uncertainties are described more fully in the section
titled "Risk Factors" in the final prospectus related to the public
offering filed with the Securities and Exchange Commission.
Forward-looking statements contained in this announcement are made
as of this date, and Red Cat Holdings, Inc. undertakes no duty to
update such information except as required under applicable
law.
Contacts
NEWS MEDIA: CORE Public RelationsPhone: (516)
222-2560 Email: media@redcat.red
INVESTORS: CORE IR Phone: (516)
222-2560 Email: investors@redcat.redWebsite: https://www.redcatholdings.com
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