WICHITA, Kan., Sept. 06, 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 commercial production of the Company’s next generation fixed-wing unmanned aerial system, the eBee™ VISION has commenced and orders for the systems are now being accepted.
eBee VISION delivers high resolution video imagery made possible by its 32X zoom and powerful thermal observation capabilities, designed to provide real-time, enhanced situational awareness for critical Intelligence, Surveillance and Reconnaissance (“ISR”) missions. Weighing just 3.5 pounds, the NDAA-compliant eBee VISION features live HD video feed, a flight time of up to 90 minutes, and wireless coverage of up to 12 miles. The high-performance drone can be deployed in just three minutes by a single operator. During its development phase, the eBee VISION received input and positive feedback from U.S. and European special forces. As a result of this collaboration, AgEagle has engineered the eBee VISION’s Ground Control System (GCS) to feature a high-end user interface tailored to meet defense and public safety requirements.
According to Barrett Mooney, Chairman and CEO of AgEagle, “We are excited to launch our top-tier, lightweight ISR UAS at an affordable price point. The eBee VISION will empower drone operators to perform surveillance missions, even in GNSS-denied conditions, and detect, track and geolocate objects and persons of interest at a very high resolution even at night.”
Continuing, Mooney said, “With commercial production now officially underway, AgEagle is able to begin fulfilling orders from those customers who have been patiently awaiting its availability and we can now address what has been an underserved need in the market. Looking ahead, eBee VISION should serve to solidify and amplify AgEagle’s reputation as a globally recognized pioneer in autonomous robotics.”
To place immediate orders or request additional sales information on the eBee VISION, please contact sales@ageagle.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 Email: UAVS@ageagle.com Media Email: media@ageagle.com
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WICHITA, Kan., Sept. 06, 2023 — Barrett Mooney, Chairman and CEO of 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, was interviewed live yesterday morning on FOX Business Network’s Varney & Co., hosted by British American economic and political commentator Stuart Varney.
Broadcast live from the floor of the Exhibit Hall at the Commercial UAV Expo in Las Vegas and aired nationally on the FOX Business Channel, Mooney discussed the reasons why AgEagle’s new eBee™ VISION drone, the next generation in Intelligence, Surveillance and Reconnaissance unmanned aerial systems, is a much more cost-effective solution for aiding U.S. Customs and Border Patrol in monitoring, detecting and preventing illegal activity along the U.S. border.
Providing critical market-open coverage (9AM-12PM ET), Varney & Co.is among the highest rated programs in business news and breaks down the latest in financial news and political headlines. To view a replay of the interview with Mooney, please go to: https://www.foxbusiness.com/shows/varney-co#.
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.
Barrett Mooney To Present as Part of Drone Visionaries Program
WICHITA, Kan., Sept. 05, 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 the Company’s Chairman and CEO, Barrett Mooney, has been invited to be a featured speaker at Commercial UAV (“CUAV”) Expo 2023 being held in Las Vegas this week.
Presenting “Why Innovation in Commercial sUAS is the Gamechanger for Defense and Public Safety Sectors” as part of CUAV’s Drone Visionaries program on Thursday, September 7 beginning at 11:00 AM Pacific time, Mooney will provide attendees with insight into why innovations borne in the commercial drone manufacturing sector are now being recognized as the critical ends to the means to effectively and efficiently scale drone operations for Intelligence, Surveillance and Reconnaissance applications in the global defense and public safety sectors.
DETAILS AT A GLANCE:
From September 5 – 7, 2023, AgEagle will also be showcasing the Company’s latest innovations in drones, sensors and software in exhibit booth #223.
NOTE TO MEDIA: To schedule on-site interviews with Mooney during the event, please contact media@ageagle.com.
About Commercial UAV Expo
Commercial UAV Expo is the leading international trade show and educational conference for professionals integrating and operating UAVs/UAS. Each year, thousands of end users, hardware manufacturers, software developers, service providers, and innovators convene in Las Vegas for the leading event for the commercial drone industry. For more information, please visit www.expouav.com.
WICHITA, Kan., Aug. 23, 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 Kelluu Ltd., a privately-owned Finnish company engaged in the design, manufacture and operation of autonomous airships for aerial environmental and critical infrastructure monitoring and surveillance, has chosen to equip its growing fleet of unmanned airships with AgEagle’s high performance RedEdge-P™ multispectral cameras for collection of high quality images and sensor data.
Based in Joensuu, Finland, Kelluu has pioneered low-emission, hydrogen-powered airships that can remain airborne for more than 12 hours per mission. With its airships, Kelluu offers commercial enterprises and government agencies with data-as-a-service, specializing in monitoring and providing real-time, actionable intelligence on power lines, roads and railways, as well as surveilling and monitoring potential environmental issues associated with forest lands and water bodies across Finland – and soon across Central Europe.
Production of processed raw materials from Finland’s forest lands into sawn wood and paper products is a EUR 15 billion a year market, making it one of the nation’s most vital industries. According to the Finnish Forest Centre, more forest lands were lost in 2022 due to spruce bark beetle infestations than ever before in recorded history. On behalf of its client, the National Land Survey Institute of Finland, Kelluu is leveraging use of RedEdge-P‘s high resolution, panchromatic imager for early stress detection of forests caused by bark beetle infestation at the green attack stage (when trees are yet to show distinct symptoms observable by the human eye).
“Equipped with RedEdge-P, our unmanned airships can fly for hours and surveil thousands of hectares of forest land in a single mission, pinpointing precise locations of early bark beetle infestation for immediate remediation by forestry management companies. In addition to protecting surrounding forest lands from large scale disturbances, Kelluu is now empowered to help save our customers potentially millions of euros due to mitigation of catastrophic tree losses. The RedEdge-P is a superb sensor and does its job well,” stated Jiri Jormakka, Co-Founder and Chief Operating Officer of Kelluu.
The RedEdge-P is just one of AgEagle’s leading innovations in aerial multispectral sensor technology. A single camera solution which is compatible with a wide array of unmanned aerial systems (“UAS”) ranging from large fixed wing to small multirotor to autopiloted airships, RedEdge-P captures calibrated high-resolution multispectral and RGB imagery with an optimized field of view and capture rate for efficient flights. This solution seamlessly integrates a high resolution, all-color imager with synchronized multispectral imagers to enable pixel-aligned outputs at previously unattainable resolution.
Barrett Mooney, Chairman and CEO of AgEagle, said, “We created the RedEdge-P to provide professionals with a reliable and efficient way to capture radiometrically calibrated RGB and multispectral data using leading UAS. We are very proud that innovative companies, such as Kelluu, are recognizing the value that AgEagle’s technological advancements were designed to deliver.”
To view video of Kelluu’s intelligent, unmanned airships in operation, please click here.
AgEagle Aerial Systems Contacts:
Investor Relations: Email: UAVS@ageagle.com
Media: Email: media@ageagle.com
Visit AgEagle at Exhibit Booth #223 at Commercial UAV Expo 2023 in Las Vegas on September 5-7, 2023; And Industry Events in Australia, Taiwan, Poland, United Kingdom, Spain, Japan and Thailand
WICHITA, Kan., Aug. 21, 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 the Company will be exhibiting in Booth #223 at Commercial UAV Expo 2023 to be held in Las Vegas at Caesars Forum on September 5-7, 2023.
The Commercial UAV Expo, presented by Commercial UAV News, is the leading international trade fair and conference focusing on the integration and operation of commercial unmanned aerial systems. Industries covered include Construction, Drone Delivery, Energy & Utilities, Forestry & Agriculture, Mining & Aggregates, Infrastructure & Transportation, Public Safety & Emergency Services, Security and Surveying & Mapping. This year’s conference will feature 200+ best-in-class exhibitors, host over 2,500 attendees from over 40 countries and provide engaging keynotes and panel discussions throughout the event. Company officials will be available for one-on-one product demos and discussions and interviews with the media. AgEagle’s customers and business partners are eligible to receive Exhibit Hall registrations at no charge. To arrange free registrations, please contact media@ageagle.com.
In addition, AgEagle has been invited to participate in a number of industry events in partnership with several of its trusted value added resellers from late August through November 2023, and include:
“We are looking forward to forging new relationships with potential customers and new strategic business partners, as well as further expanding our relationships with existing customers and other AgEagle stakeholders at these leading trade events over the next three months. The vital role that these types of events provide in helping to educate prospective buyers on the competitive differentiation and value propositions of AgEagle’s leading edge UAS solutions cannot be underestimated. We are especially excited about using these events to shine a spotlight on our latest drone innovations, including our new eBee VISION,” stated Barrett Mooney, AgEagle’s Chairman and CEO.
WICHITA, Kan., Aug. 15, 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 its financial results for the three and six months ended June 30, 2023.
Second Quarter 2023 Financial Highlights
As of June 30, 2023, AgEagle’s cash position was $4.20 million and total stockholders’ equity was $41.18 million, which compared to cash of $4.35 million and total stockholders’ equity of $43.23 million as of December 31, 2022.
For more detailed information relating to the Company’s second quarter financial performance, please refer to the Interim Report on Form 10-Q filed yesterday afternoon with the U.S. Securities and Exchange Commission and accessible at www.sec.gov or on AgEagle’s website at www.ageagle.com.
Commenting on the results, Nicole Fernandez-McGovern, Chief Financial Officer and Executive Vice President of Operations, said, “During the second quarter, we focused primarily on optimizing our operations through continued integration and consolidation of our offices and workforce in an effort to reduce operating expenses. We believe we are properly positioned to grow our future revenue as a result of our initiatives to reduce our cash burn while lowering net loss through our product pricing, marketing and innovation strategies.”
Second Quarter 2023 Operational Highlights
Barrett Mooney, AgEagle’s Chairman and CEO, stated, “We enter the second half of 2023 confident in our ability to achieve incremental sales growth coupled with some major customer wins despite continued challenges with supply chain constraints and inflationary pressures. We are especially excited about the potential growth that should follow our commercial release of our new eBee VISION drone next month. Moreover, our commitment to continue driving cost and productivity efficiencies across our business through optimization of our cross-functional sales and engineering resources is expected to further reduce our operating spend while still supporting our ongoing product innovation and global marketing strategies.”
WICHITA, Kan., Aug. 10, 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 the Company will host a webcast on Tuesday, August 15, 2023 beginning at 4:30 p.m. Eastern Time to discuss the financial results for the three and six months ended June 30, 2023.
AgEagle’s Chairman and Chief Executive Officer, Barrett Mooney, along with Nicole Fernandez-McGovern, Chief Financial Officer and Executive Vice President of Operations, will host the corporate update. Investors and analysts are encouraged to submit questions they would like management to address during the discussion via email to UAVS@ageagle.com by Friday, August 11, 2023 at 5:00 p.m. Eastern Time.
The corporate update will be broadcast live and available for replay via the link above. If you have any difficulty connecting to the webcast, please contact AgEagle at 407-960-4636.
WICHITA, Kan., Aug. 09, 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 the Company will host a webcast on Monday, August 14, 2023 beginning at 4:30 p.m. Eastern Time to discuss the financial results for the three and six months ended June 30, 2023.
WICHITA, Kan., July 26, 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 issued an update on the Company’s global market introduction of its latest drone innovation, the eBee™ VISION – the industry’s next generation in Intelligence, Surveillance and Reconnaissance (“ISR”) unmanned aerial systems (“UAS”) featuring live, 4-K resolution video imagery from a distance of up to 12 miles.
In support of its sales and pre-order efforts, AgEagle’s team has been engaged in numerous live demonstrations and intensive training sessions with officials from government and military agencies across the world seeking to leverage the power of eBee VISION in their respective drone operations. In July alone, AgEagle completed a comprehensive training session with its first European military customers, who were confirmed as eBee VISION operators and qualified trainers of new users. These new customers confirmed with AgEagle’s technical teams that all operational capabilities of the eBee VISION continue to meet and exceed performance benchmarks in scouting, surveillance, usability, fast deployment and flight time, among other use case criteria specified by the international military community.
The Company has also been working in close collaboration with its network of valued added reselling partners in France, United Kingdom, Poland, Italy and Spain, among other countries, to conduct live demonstrations and technical exchanges with prospective new customers, with emphasis on showcasing use of eBee VISION UAS for public safety and first responder missions, border patrol and a wide range of commercial applications. According to Barrett Mooney, Chairman and CEO of AgEagle, “These events have all proven successful in affirming the operational capabilities of the eBee VISION and have helped to fuel rising procurement interest and demand for our exciting new ISR solution from government and commercial prospects, alike.”
The eBee VISION delivers high resolution video imagery made possible by its 32x zoom and powerful thermal observation capabilities. Its sensor payloads are capable of detecting, tracking and geo-locating objects in both day and night conditions. Offering up to 90 minutes of flight time and the same ease-of-use that has earned AgEagle’s eBee line of UAS global industry distinction, the eBee VISION can be deployed and operated by a single person. Based on technical input gathered from early adopters and through its many product demonstrations conducted since the first of the year, AgEagle’s engineering team has continued to work on evolving and enhancing the eBee VISION to provide optimal value to its users. More specifically, feedback collected has resulted in the design of an efficient and easy-to-use user interface (“GUI”) that has been customized for defense and security needs and delivers what many have noted is the best user experience available in the market today. The evolution of eBee VISION‘s GUI has resulted in new feature enhancements such as cursor on target, target tracking, flight planning and GNSS denied flight mode.
In the coming months, AgEagle will be showcasing the eBee VISION at numerous industry events, conferences and shows, including the Commercial UAV Expo 2023 in Las Vegas in September, DSEI 2023 in London in September, and Milipol Paris 2023 in Paris, France in November.
WICHITA, KS / June 6, 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 the pricing of 16,720,000 shares of common stock and 25,080,000 common stock purchase warrants (the “common warrant”) to purchase 25,080,000 shares of common stock at a combined price of $0.25 per share and accompanying common warrants for aggregate gross proceeds of approximately $4.2 million, before deducting placement agent fees and other offering expenses. The warrants will have an exercise price of $0.38 per share, will be initially exercisable beginning six months following the date of issuance and will expire five years from the initial exercise date.
The closing of the offering is expected to occur on or about June 8, 2023, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds of this offering for working capital and general corporate purposes.
A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.
The shares of common stock will be issued in a registered direct offering pursuant to an effective shelf registration statement on Form S-3 (File No. 333-252801) previously filed with the U.S. Securities and Exchange Commission (the “SEC”), under the Securities Act of 1933, as amended (the “Securities Act”), and was declared effective by the SEC on May 6, 2021. The common warrants will be issued in a concurrent private placement. A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and once filed, will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com.
The private placement of the common warrants will be made in reliance on an exemption from registration under Section 4(a)(2) of the Securities Act and will not be registered under the Securities Act, or applicable state securities laws. Accordingly, the securities issued in the concurrent private placement may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Investor Relations:
Gateway Investor RelationsMatt Glover or Cody CreePhone: 949-574-3860Email: UAVS@gatewayIR.com
SOURCE: AgEagle Aerial Systems, Inc.
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