JACKSONVILLE, Fla.., March 12, 2015 (GLOBE NEWSWIRE) -- Drone Aviation Holding Corp. (OTCQB:DRNE), a developer of specialized lighter-than-air aerostats and tethered drones, today announced that its wholly owned subsidiary, Drone Aviation Corp. (DAC), has been awarded a contract from NASA Langley Research Center to provide aerial and ground based equipment for use in a new research program at the Center. The customized DAC equipment will be utilized to support a NASA research program designed to test small unmanned aircraft aerodynamic designs and flight dynamics by launching the vehicles from a controlled tactical aerostat. The delivery of the aerial and ground-based equipment is expected to be completed by early May of this year.
The award includes engineering services in addition to a DAC-designed and manufactured aerostat, a DAC wireless emergency deflation device, high strength tether line and a ground-based winch. The DAC aerial system will allow NASA researchers to rapidly, efficiently and safely test new airplane designs by utilizing the aerostat as a launch platform flown at pre-specified altitude.
Felicia Hess, CEO of Drone Aviation Holding Corp., stated, "Since their invention, we believe aerostats have proven to be a very versatile and dependable aerial platform, something supported by this new NASA research award. Working with the team at Langley, we are excited to help support this novel program and help aircraft engineers test and evaluate future aircraft designs."
About Drone Aviation Holding Corp.
Drone Aviation Holding Corp. (DRNE) develops and manufactures cost-effective, compact and rapidly deployable aerial platforms including lighter-than-air aerostats and electric-powered drones designed to provide government and commercial customers with enhanced surveillance and communication capabilities. Utilizing a proprietary tether system, the company's products are designed to provide prolonged operational duration capabilities combined with improved reliability, uniquely fulfilling critical requirements in military, law enforcement and commercial and industrial applications. For more information about Drone Aviation Holding Corp. please visit www.DroneAviationCorp.com or view our reports and filings with the Securities and Exchange Commission on http://www.sec.gov, including the Risk Factors included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2013 and in our Current Report on Form 8-K filed with the SEC on June 5, 2014, as well as our Quarterly Reports for the quarters ended March 31, 2014, June 30, 2014 and September 30, 2014.
Forward-Looking Statements
This press release contains projections of future results and other forward-looking statements that involve a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Important factors that may cause actual results and outcomes to differ materially from those contained in the projections and forward-looking statements included in this press release are described in our publicly filed reports. Factors that could cause these differences include, but are not limited to, the acceptance of our products, lack of revenue growth, failure to realize profitability, inability to raise capital and market conditions that negatively affect the market price of our common stock. The Company disclaims any responsibility to update any forward-looking statements.