SAN FRANCISCO, Oct. 28, 2019 (GLOBE NEWSWIRE) -- The commercial drone industry is rapidly evolving. Google's Wing Aviation, Amazon and UPS have received Federal Aviation Authority (FAA) approval for drone delivery, and Uber and others may not be far behind. UPS just announced a partnership with CVS to develop prescription drug delivery via drone.
Company mentioned: Red Cat Holdings Inc. (RCAT:OTC)
The increasing use of commercial drones is accompanied by the need for reliable and secure flight data that's required by regulators, insurers and fleet operators for tracking and accountability.
Small-cap Red Cat Holdings Inc. is a leader in developing a black box drone flight recorder that uses distributed data storage—blockchain—for security, encryption and privacy. The company also is acquiring Rotor Riot, a well-known name in the drone racing space.
The firm recently completed a reverse takeover, a reverse stock split and changed its ticker symbol to RCAT on the OTC market. It is working toward listing on NASDAQ.
"Red Cat's software is basically replicating what a black box does on an airplane," Jeff Thompson, Red Cat CEO, told Streetwise Reports. "Not only do we record all the elements of every fight so that the flight can be replayed to find out what happened, we also can provide advanced analytics. We record every detail of the flight including the video, the temperature, the electronics, the CPU usage, the battery sag, the RPM of the motors."
Continue reading this article: Red Cat's Black Box for Drones Preparing for Take Off
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