AgEagle Signs $2M Agreement with Wingtra Guaranteeing Delivery of RedEdge-P Sensor Kits

Leading Panchromatic Camera Kit Integrated with WingtraOne Gen II VTOL Drone
Provides Users with Optimal Spectral and Spatial Resolution for Commercial Aerial Mapping

WICHITA, KS / May 2, 2023 / AgEagle Aerial Systems Inc. (NYSE American:UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full stack flight hardware, sensors and software for commercial and government use, today announced that it has signed a two-year supply agreement with Wingtra AG, securing the supply of RedEdge-P™ sensor kits for integration with WingtraOne™ Vertical Take-Off and Landing (“VTOL”) drones.

Pursuant to the agreement, AgEagle has guaranteed production and delivery of RedEdge-P sensors kitted with its MicaSense Calibrated Reflectance Panel 2, RedEdge-P Lens Cover, CF Express Storage Card, CF Express Storage Card Reader, MicaSense DLS2 and MicaSense WiFi Dongle (collectively, the “RedEdge-P Sensor Kits”) to Wingtra over the next two years.

Maximilian Boosfeld, Founder and CEO of Wingtra, stated, “We have been very pleased to offer AgEagle’s MicaSense sensors as integrated payloads on our WingtraOne VTOL drones for the past several years. We believe that the combination of our WingtraOne Gen II with AgEagle’s RedEdge-P provides our valued customers with the highest possible accuracy, efficiency and cost-effectiveness in their commercial drone operations. This is particularly useful for those seeking to materially benefit from unprecedented, plant-level detail and high precision resolution in their commercial agriculture, forestry, environmental research and water management applications. Add to this WingtraOne’s fast coverage even for large areas, easy setup and high accuracy data, and we now offer an all-in-one solution for a wide range of projects.”

The rugged RedEdge-P is an AgEagle sensor innovation introduced to market in late 2021, which features a high-resolution panchromatic band for pan-sharpened output resolutions of 2cm/0.8 inches at 60 meters/200 feet. It enables pixel-aligned outputs at previously unattainable resolutions while delivering optimal efficiency and reliability, opening the door to season-long comprehensive plant canopy analysis at all growth stages.

“AgEagle is very proud to have Wingtra as one of our trusted sensor integration partners which shares our same commitment to quality, performance and excellence in the products we are pioneering and to the mission of advancing the growth of the commercial unmanned aerial system (“UAS”) market. In addition to representing more than $2.0 million in new revenue to AgEagle over the next two years, this agreement supports our belief that mainstream adoption of UAS on a global scale will only be possible if the world’s leading providers of drone solutions work together to deliver technologies and capabilities that benefit commercial drone operators,” said Barrett Mooney, Chairman and CEO of AgEagle.

About Wingtra AG

Headquartered in Switzerland with offices in the United States and Croatia, Wingtra is the world’s leading VTOL (vertical take-off and landing) drone producer for mining, construction and infrastructure and urban planning and land management industry professionals. Since its market entry in early 2017, Wingtra has partnered with more than a 100 of the biggest equipment dealers and has been selling mapping drones globally ever since. For more information, please visit www.wingtra.com.

About AgEagle Aerial Systems Inc.

Through its three centers of excellence, AgEagle is actively engaged in designing and delivering best-in-class flight hardware, sensors and software that solve important problems for its customers. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack drone solutions for customers worldwide in the energy, construction, agriculture, and government verticals. For additional information, please visit our website at www.ageagle.com.

Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our competitive position, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars, or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.

AgEagle Aerial Systems Contacts:

Investor Relations:

Gateway Investor Relations
Matt Glover or Cody Cree
Phone: 949-574-3860
Email: UAVS@gatewayIR.com

Media:

Email: media@ageagle.com

SOURCE: AgEagle Aerial Systems, Inc.

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