JACKSONVILLE, FL, Oct. 17, 2017 (GLOBE NEWSWIRE) -- Drone Aviation Holding Corp. (OTCQB: DRNE) (“Drone Aviation” or the “Company”), a manufacturer of tethered drones and lighter-than-air aerostats, today announced that it has received an order for its recently upgraded, multi-mission capable tactical Winch Aerostat Small Platform ("WASP") from an existing U.S. Department of Defense (“DoD”) customer. The solider-operated WASP features support for advanced ISR (Intelligence, Surveillance and Reconnaissance) equipment including the simultaneous use of communications and daylight and thermal payloads, which are capabilities sought by the DoD customer following the in-theater use of previous WASP systems.
Under terms of the contract valued in excess of $800,000, the Company expects to supply the customer with the multi-mission capable WASP during the fourth quarter of 2017. Drone Aviation has integrated both advanced communications and daylight and thermal optical sensors onto the WASP adding new mission capabilities that were previously only available on much larger, less mobile, multi-million-dollar aerostat systems. The upgraded payload system includes secure voice and data network range extension highlighted by the ability to extend communications to over 30km made possible through the use of unique and proprietary system architecture.
“We are pleased to have received this repeat order from our customer, and it is especially notable because it comes as a direct result of the WASP’s demonstrated capabilities in the field and the positive feedback reported by users,” said Bruce Hardy, Vice President of Sales of Drone Aviation. “With its multi-mission capabilities operating at the edge, the WASP delivers persistence in a mobile, small footprint tactical solution, one that enables our military to see and do more, without the high costs and significant support requirements of larger existing aerostat solutions.”
“Over the past two years, we have invested significantly into advancing the capabilities of our tethered aerial platform technologies, introducing an array of new products into both military and commercial marketplaces. With this contract, and others we are looking to secure, we believe Drone Aviation is now entering the next phase of its development, one focused on contract sales,” added Jay Nussbaum, Chairman and CEO of Drone Aviation Corp.
The WASP is a highly tactical and mobile aerostat system which can be operated by as few as two soldiers and can provide day/night video and wireless communication range extension from either a fixed, stationary position or while being towed. Over the past four years, U.S. Army-owned WASP systems have successfully completed thousands of hours of soldier training operations, various DoD exercises, and customer operations. WASP is currently being utilized by the DoD as a mobile, tactical aerial solution that can support various ISR mission profiles involving ground-based assets as well as aerial assets through communication retransmission. Operating at altitudes of up to 1,500 feet AGL, the WASP system can significantly extend ISR capabilities and communications in remote and austere locations. The soldier-operated systems can be rapidly configured to support a variety of mission requirements for days, weeks or months with customized payloads.
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 electric-powered 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, 2016, as well as information in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Forward-Looking Statements
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. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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.
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Attachments:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/ffa3d161-98ef-4833-aab1-98728f3272f1