Drone Aviation Awarded Contract for Enhanced WASP Tactical Aerostat from U.S. Department of Defense
17 October 2017 - 1:00PM
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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http://www.globenewswire.com/NewsRoom/AttachmentNg/b26e29a3-862b-4f51-9e53-d0cbafb00701
Attachments:
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/ffa3d161-98ef-4833-aab1-98728f3272f1
Michael Glickman, Media Relations
Drone Aviation Holding Corp.
917-397-2272
mike@mwgco.net
Steve Gersten, Investor Relations
Drone Aviation Holding Corp.
813-926-8920
investors@Droneaviationcorp.com