WICHITA, Kan., March 31, 2022 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full-stack drone, sensor and software solutions, will host a webcast on Tuesday, April 12, 2022 at 4:30 p.m. Eastern Time to discuss recent operational developments and its financial results for the fourth quarter and full year ended December 31, 2021.
AgEagle CEO Barrett Mooney and CFO Nicole Fernandez-McGovern 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@gatewayir.com by Friday, April 8, 2022 at 5:00 p.m. Eastern Time.
Webcast Date: Tuesday, April 12, 2022Time: 4:30 p.m. Eastern Time (3:30 p.m. Central Time)Webcast Link: https://www.webcaster4.com/Webcast/Page/2160/45102
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 Gateway Group at 949-574-3860.
AgEagle plans to file a Form 12b-25 with the U.S. Securities and Exchange Commission (the “SEC”) requesting a 15-day extension to file its Annual Report on Form 10-K for the year ended December 31, 2021. The Company does not anticipate having the audit of its financial statements completed in order to meet the March 31, 2022 deadline due primarily to the year-end audits of the Company’s recent acquisitions requiring additional time to complete.
About AgEagle Aerial Systems Inc.AgEagle and its wholly owned subsidiaries are actively engaged in designing and delivering best-in-class drones, sensors and software that solve important problems for our 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 websites at www.ageagle.com.
Forward-Looking StatementsThis 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.
WICHITA, Kan. and LAUSANNE, Switzerland, March 10, 2022 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full-stack drone, sensor and software solutions, today announced that the Company is one of the first eleven vendors to complete the required testing, evaluations and demonstration process to be designated a Blue UAS under the Defense Innovation Unit’s Blue sUAS 2.0. As a result, the NDAA-compliant eBee TAC Unmanned Aerial System (UAS) has been approved by the Defense Innovation Unit (DIU) for procurement by the U.S. Department of Defense (DoD).
In an announcement released yesterday, the DIU stated, “The first approved drone to be added to the DIU Blue UAS Cleared List as part of Blue sUAS 2.0 is the eBee TAC. Systems added to this list do not require a DoD exception to policy to procure or operate as they have undergone a cyber-security evaluation, a policy compliance check, and were issued the necessary administrative documentation. Federal government partners can also leverage this effort for their programmatic needs without duplicating efforts.”
The eBee TAC successfully completed a series of demonstrations in association with Blue sUAS 2.0 to provide DIU with information and verification of the drone systems’ mission planning and launch capabilities, range and endurance, NDAA compliance, operational safety of flight procedures and cyber security, in addition to scripted and ad hoc flight profiles. Based on its evaluation, the DIU has designated the eBee TAC as an approved light-weight, medium-range UAS available to the DoD that does not require a waiver to operate; and is also available to the Federal Government. AgEagle’s success with Blue sUAS 2.0 follows a four-year legacy of eBee‘s use as an integral asset for both conventional and unconventional Department of Defense units.
Following a decade of development, the eBee-branded drones have earned distinction as the best-selling commercial fixed-wing UAS in the United States over the past three consecutive years, according to data supplied by the U.S. Federal Aviation Authority (FAA). Designed specifically for government and military mapping and mission planning applications, the eBee TAC operates in disconnected environments, providing a higher accuracy mobile solution to map and locally share aerial imagery data on rapidly changing field conditions to analyze and provide near real-time situational awareness to ground forces. Weighing only 3.5 pounds and featuring a digital camouflage skin for increased stealth and up to 90 minutes flight time and silent mission mode, the eBee TAC can be rapidly deployed, from assembly to hand-launch, in three minutes by a single user to generate 3D modeling, terrain and thermal maps.
Each eBee TAC system features NDAA compliant drone, sensors and active components, Blue sUAS registration, secure extension, Endurance activation, two Endurance batteries, one Pitot Pro-kit, two micro SD cards with adapters, AES256-bit encryption, pixel camouflage and an IP67 hard transport case with STANAG military standard certification that is lightweight, rugged and dust and water resistant.
eBee TAC is available for purchase by U.S. government agencies and all branches of the military on GSA Schedule Contract #47QTCA18D003G supplied by Hexagon US Federal and partner Tough Stump Technologies as a standalone solution or as part of the Aerial Reconnaissance Tactical Edge Mapping Imagery System (ARTEMIS). Tough Stump also provides extensive training programs for the system.
ARTEMIS includes and integrates Hexagon US Federal’s Google Earth Enterprise Platform (GEEP) equipped laptops containing custom globes of mission Areas-of-Interest (AOIs) built from satellite imagery and other geospatial intelligence; and forms the backdrop for the eBee TAC-collected imagery. “Hexagon US Federal has long been committed to supporting the warfighter and public safety professionals through innovative solutions such as ARTEMIS,” said Tammer Olibah, CEO and President of Hexagon US Federal. “ARTEMIS has great potential to improve mission effectiveness in a variety of terrains, and DIU approval of the eBee TAC is a significant step in making ARTEMIS available to an even wider US Government audience.”
Barrett Mooney, Chairman and Chief Executive Officer of AgEagle, stated, “The eBee TAC is ideally positioned to become an in-demand, mission critical tool for the U.S. military, government and civil agencies and our allies worldwide. We expect this to be a major growth catalyst for AgEagle in 2022, positively impacting our financial performance in the years ahead as AgEagle solidifies itself as the go-to source for high performing, state-of-the-art full stack drone solutions that get the job done.”
About AgEagle Aerial Systems Inc. AgEagle and its wholly owned subsidiaries are actively engaged in designing and delivering best-in-class drones, sensors and software that solve important problems for our 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 websites 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9f76a166-5192-41e3-896b-8c98f955ce5f
WICHITA, Kan., March 03, 2022 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full-stack drone, sensor and software solutions, today announced that the Company’s Chairman and newly appointed Chief Executive Officer, Barrett Mooney, has published a formal letter to shareholders, providing his perspective on the Company’s prevailing business operations and future growth strategies. Mooney stated:
“It’s a pleasure to be rejoining AgEagle as CEO at this pivotal stage of our Company. For those of you that are newer to AgEagle or who may be unfamiliar with my background, I originally had the privilege of assuming the helm of AgEagle as CEO in 2018. During my first tenure as CEO, my team and I were able to transform a small drone manufacturer based in Neodesha, Kansas into a NYSE-listed company that manufactured drones, built ground support equipment, and developed and implemented software that could deliver actionable insight to our UAV (unmanned aerial vehicle) customers. We also innovated our core software product to lead the way into the newly legal hemp markets by offering regulatory agencies the most advanced software for monitoring, registering and enforcing federal and state hemp production laws. In June 2020, I moved into the role of Chairman of the Board and oversaw the strategic direction of AgEagle from the Board level.
“During my time as Chairman, AgEagle successfully acquired three companies to build additional expertise, expanded our line of best-in-class products and brought together teams to produce a world class full-stack drone solution. The sensors, software and airframes that we acquired, along with an immense pool of talented engineers and data scientists who now comprise 70% of our global workforce, are critical to our growth plans. From the Board’s perspective, there is a clear need to unlock and catalyze more value from these acquisitions to drive profit and growth. With the prior CEO’s recent departure and given my background, the Board asked me to lead as AgEagle’s CEO once again, and I eagerly accepted.
“Through the lens as Chairman, I can tell you that the leadership team understands the optics that come with having three different CEOs in less than two years. While I’m grateful for the contributions the prior CEOs made in getting us to where we are today, I’m excited to be re-engaging from an operations and engineering perspective to drive us forward and realize the immense potential of our Company.
“Before I dive into our vision and future plans, I would like to emphasize that all of our shareholders, including our valued long-term shareholders who are very active online, to please only rely on information sourced directly from AgEagle and avoid the rumors and misinformation regarding AgEagle that comes from outside sources, which cannot be relied upon. As a NYSE listed and SEC reporting company, we will continue to keep you updated on a regular basis through news releases, SEC filings and social media posts that can be found on our website or through our social media channels on Twitter, Facebook and LinkedIn.
“I feel compelled to point out that I am the type of executive leader who understands and appreciates the distinction between something being ‘well said’ and something being ‘well done.’ I also firmly believe that good fundamentals reflect good businesses, and that good businesses command premium valuations in the market. It will be my focus to ensure that our entire organization is dedicated to accomplishing growth objectives that will be consistently viewed as ‘well done,’ along with improving fundamentals across our enterprise with a goal of becoming cash flow positive as quickly as possible. I am confident in our ability to successfully achieve these goals in a timely and responsible fashion and prove value to the market – and most importantly, to you.
“Now, let’s dive into the vision for AgEagle, which begins with bringing three core values to life in our day-to-day operations and aligning them with our efforts to earn the trust and continued business of our customers. These core values will help guide all of our decision-making processes from this point forward:
“I want to be clear that we are not four separate companies operating in silos under a corporate umbrella. We are one company which operates as a global UAV company offering a valuable portfolio of high performance, industry trusted sensors, software and airframes. Our products have earned and continue to earn distinction as invaluable aerial-enabled data capturing and analytics tools for a broad range of commercial enterprise and government users. We are very proud of the long list of customers, business partners and resellers which comprise the AgEagle ecosystem and have come to rely on our products.
“In the next several months, we plan to create three centers of excellence with respective expertise in software, sensors and airframes. Our centers of excellence will cross-pollinate ideas, industry insights and skillsets to generate intelligent autonomous solutions that fully leverage our expertise in robotics, automation and manufacturing. We will also be evaluating and making necessary changes to the roles and responsibilities of our leadership team to ensure we are properly matching individual strengths and areas of expertise to the management of our daily operations.
“While 2021 was a year in which AgEagle focused on building a strong foundation for future growth through successful execution of our acquisition strategy, 2022 will be the year in which our results will be defined by organic growth through meaningful sales performance. In fact, this year is off to a very strong start. We have begun optimizing our global reseller network and direct-to-customer channels serving multiple verticals; there is robust global demand for our new panchromatic sensors introduced to market in late 2021; and we’re making material headway with our push into the U.S. government sector.
“Overall, I firmly believe AgEagle is in a strong position to succeed. We are going to be more than just customer- and product-centric, we will be obsessed with innovation and knowing the needs of our customers before they do. We have exceptionally talented engineering and customer success teams with an eager and experienced leadership team ready to propel them through this next growth phase. We have the building blocks of a great company in place, and the future of AgEagle is bright and promising.
“I look forward to hosting a quarterly update webcast and further addressing you all when we report our fourth quarter and full year 2021 results later this month. Thank you all for your continued support and I look forward to achieving measurable success in 2022 and beyond.”
AgEagle Aerial Systems Contacts:
WICHITA, Kan., Feb. 28, 2022 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full-stack drone, sensor and software solutions, today announced that the eBee TAC Unmanned Aerial System, pioneered by AgEagle subsidiary senseFly, will be showcased today at Tough Stump Technologies’ Tech Demo Day in North Carolina for invited government and military officials.
Barrett Mooney, Chairman and CEO of AgEagle, stated, “With geopolitical tensions escalating around the world, it is critical that our nation’s government and military forces are equipped with the most innovative, state-of-the-art surveillance and reconnaissance technologies available. The use of unmanned aerial systems will enable the seamless coordination of our military forces while mitigating the risks of combat in multiple areas. Now with the acquisition of senseFly, AgEagle now can offer one of the best-in-class autonomous UAS mapping and scouting solutions, empowering us to aggressively push our initiative to become a trusted partner to the U.S. government and military, as well as to allied defense agencies worldwide.”
Since 2018, Tough Stump Technologies and senseFly have teamed on the development of the Aerial Reconnaissance Tactical Edge Mapping Imagery System (“ARTEMIS“), a turnkey sUAS kit designed to rapidly collect and analyze high-resolution imagery, filling critical gaps in situational awareness and intelligence collection for defense, intelligence and civil organizations. In August 2021, the new eBee TAC was integrated into ARTEMIS – delivering tactical mapping users a purpose-built drone system to readily incorporate into their existing workflows.
Featuring a 17.2-mile range (one way) and up to 90-minute flight time, eBee TAC is suitable for tactical military operations, disaster response, public safety and humanitarian assistance missions In addition to the eBee TAC tactical mapping drone, the ARTEMIS solution integrates Google Earth Enterprise Platform (GEEP) equipped laptops, containing custom globes of mission AOIs built from satellite imagery and other geospatial intelligence; and forms the backdrop for the eBee TAC-collected imagery. GEEP provides an intuitive interface for visualization and planning, integration with mobile situational awareness tools, and enables ARTEMIS to operate in disconnected environments. To learn more about the eBee TAC-enabled ARTEMIS solution, please view the following video produced by Tough Stump Technologies.
Gary Licquia, Regional Manager of AgEagle’s US-based, fixed-wing airframe operations, said, “The eBee TAC-enabled ARTEMIS solution has been specifically engineered to provide extremely granular and near real-time tactical imagery that enhances situational awareness and tactical advantages that reduce risks to our U.S. military forces and allied partners operating in austere and resource-constrained areas. We are very proud to be collaborating with Tough Stump to showcase the power of our advanced drone mapping and scouting capabilities at this important field demonstration.”
About AgEagle Aerial Systems Inc.AgEagle and its wholly owned subsidiaries are actively engaged in designing and delivering best-in-class drones, sensors and software that solve important problems for our 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 websites at www.ageagle.com.
WICHITA, Kan., Jan. 18, 2022 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full-stack drone, sensor and software solutions, today announced that its Board of Directors has reappointed Company Chairman Barrett Mooney as AgEagle’s new Chief Executive Officer, effectively immediately. Mooney succeeds Brandon Torres Declet who has resigned as Chief Executive Officer and as a member of the Board of Directors to pursue new opportunities.
From July 2018 through June 2020, Mooney served as Chief Executive Officer of AgEagle and subsequently stepped down from the post upon his appointment as Chairman of the Board. During his original tenure as CEO, Mooney is credited for architecting and executing AgEagle’s initial expansion efforts beyond the manufacture of proprietary fixed wing drones for farm use into manufacture and assembly of drones for test applications in drone package delivery; development of proprietary aerial imagery-based data analytics and solutions for the hemp, land management and agricultural sectors; and other key fundamental growth initiatives focused on pursuit of opportunities in the greater autonomous commercial drone market.
Commenting on the change in leadership, independent Board member Grant Begley stated, “The reappointment of Barrett as CEO comes at a critical juncture in AgEagle’s growth as we continue to evolve our strategy and solutions to meet the groundswell of opportunities fast emerging in the global commercial and government UAS industries. Given Barrett’s proven leadership and business-building skills, visionary aptitude and deep understanding of drone hardware, software, data and analytics, we are confident that he is the ideal person to assume the helm of AgEagle and move the Company through its next wave of growth and transformation.”
“AgEagle’s market valuation has taken a hit over the past year, however, our Company has made notable accomplishments, not the least of which is completing three strategic acquisitions”, said Mooney. “It is my belief that we can regain the confidence of the Wall Street community through our future growth and succeed by staying true to our roots in innovation and delivering a well-defined pathway to sustainable profitability.”
Continuing, Mooney added, “Moving forward, it is my intention to ensure that AgEagle becomes globally synonymous with technological innovation in our industry and earns distinction as a UAS company that prioritizes our customers’ needs first. You can expect to see us double down on our efforts to win new commercial and government customers by delivering smart, highly scalable drone solutions that effectively solve operational challenges and provide actionable insights that empower our customers to improve their workflow processes and outcomes. We have superior technology, the talent and the will necessary to succeed; and it is incumbent upon me to ensure that we do. I am very excited about the months ahead to earn shareholder confidence — not because of the kind of company we may become, but because of the visionary, high performing company we are and were always intended to be.”
Three and Nine Month 2021 Revenues Climb 169% and 389%, Respectively, Year-Over-Year
Company’s Leadership to Host Corporate Update Via Webcast Today at 4:30 PM ET
WICHITA, Kan., Nov. 15, 2021 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full-stack drone, sensor and software solutions, today announced its financial results for the three and nine months ended September 30, 2021.
Brandon Torres Declet, Chief Executive Officer of AgEagle, stated, “The scaling of our business through our strategic acquisition initiatives has led to record revenues for our Company, providing the framework for improving our fundamentals. Results continue to be driven by our strong customer and reseller relationships and through the unification of our product portfolios serving the energy, construction, agriculture and government verticals. Moreover, our recent acquisition of senseFly, one of the world’s leading fixed-wing drone companies, strengthens the customer appeal our proprietary full stack drone solution offerings. These are exciting times for AgEagle, and we are confident in our ability to execute on the growth opportunities ahead of us.”
Financial Highlights for the Three Months Ended September 30, 2021 Compared to September 30, 2020
Financial Highlights for the Nine Months Ended September 30, 2021 Compared to September 30, 2020
For more detailed information on AgEagle’s third quarter 2021 financial results, please refer to the 10-Q filed with the U.S. Securities & Exchange Commission, accessible at www.sec.gov and on AgEagle’s website, www.ageagle.com.
Recent Developments
Corporate Update Webcast Today
As a reminder, AgEagle’s leadership will host the Company’s third quarter 2021 corporate update via webcast today beginning at 4:30 PM ET. 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 Gateway Investor Relations at 949-574-3860.
To access the webcast, please go to https://www.webcaster4.com/Webcast/Page/2160/43184.
WICHITA, Kan and SEATTLE, Nov. 08, 2021 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full-stack drone, sensor and software solutions, today announced the launch of MicaSense‘s most pioneering drone sensor innovation, to date: Altum-PT.
MicaSense, an AgEagle company, has earned a respected reputation worldwide for delivering many of the drone industry’s most dynamic, high performance multispectral imaging solutions which have become vital to the Agriculture, Plant Research, Land Management and Forestry industries. Altum-PT is an optimized three-in-one solution for advanced remote sensing and agricultural research. It seamlessly integrates an ultra-high resolution panchromatic imager, a built-in 320X256 radiometric thermal imager and five discrete spectral bands to produce synchronized outputs such as RGB color, crop vigor, heat maps and high resolution panchromatic in just one flight. Offering twice the spatial resolution of the prior Altum™ sensor, Altum-PT will empower users with deeper analytical capabilities and broader, more diverse applications; enable them to discern issues at the plant level, even in the early growth stages; and conduct early stage stand counting, as well as season-long soil monitoring, among other critical uses.
“In our agronomic research, high spatial resolution of multispectral data is critical,” stated Associate Professor Andries Potgieter of the Centre for Crop Science, Queensland Alliance for Agriculture and Food Innovation. “In the past, we’ve flown at very low altitudes to achieve the needed ground sample distance, or GSD. With the GSD capabilities through the pan-sharpening of the Altum-PT, our data collection efforts will be significantly streamlined. Having higher resolution thermal data from the Altum-PT will also be relevant to enhanced accuracy when determining the impact of abiotic and biotic stresses on crop performance at plant, canopy and field levels across different environments.”
MicaSense’s Vice President of Research and Development, Justin McAllister, added, “The top-of-the-line Altum has been one of MicaSense’s best selling sensors for professional-grade agriculture drone mapping since it was first introduced in 2018. Based on customer feedback and evolving industry needs, we have engineered the Altum-PT to be even better. Its enhanced, patented thermal calibration technologies guarantee the most accurate thermal maps available – over two times better than Altum, opening the door to highly advanced research applications and even more pronounced user benefits.”
Commenting on the new product launch, Brandon Torres Declet, AgEagle’s Chief Executive Officer, said, “We are very proud of the success we have achieved through market adoption of our legacy products and are excited about again raising the bar on drone sensor excellence through our newest market entrants, RedEdge-P and now the Altum-PT. Both sensors represent revolutionary leaps forward in multispectral technology and should serve to fuel even greater future growth for our Company moving forward. With global distribution in over 70 countries worldwide, we are pleased to provide our valued customers with the tools they require to achieve their respective objectives through our novel advancements in drone sensors and their expanding applications.”
For sales information, please contact Drew Baustian, Business Development Manager at MicaSense, at https://micasense.com/contact/.
WICHITA, Kan., Nov. 02, 2021 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full-stack drones, sensors and software, will host a webcast on Monday, November 15, 2021 at 4:30 p.m. Eastern Time to discuss recent operational developments and its financial results for the third quarter ended September 30, 2021.
AgEagle CEO Brandon Torres Declet and CFO Nicole Fernandez-McGovern 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@gatewayir.com by Friday, November 12, 2021 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 Gateway Investor Relations at 949-574-3860.
About AgEagle Aerial Systems Inc.AgEagle and its wholly owned subsidiaries are actively engaged in designing and delivering best-in-class drones, sensors and software that solve important problems for our 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 StatementsThis 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.
WICHITA, Kan. and LAUSANNE, Switzerland, Oct. 29, 2021 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full-stack drone, sensor and software solutions, today announced that its wholly-owned subsidiary, senseFly, has been named to the Blue sUAS 2.0 list, published by the U.S. Department of Defense’s Defense Innovation Unit (DIU) earlier this month.
The Blue sUAS 2.0 project follows the successful partnership between the U.S. Army and DIU on the Short Range Reconnaissance (SRR) program for small unmanned aircraft systems (sUAS), which started in 2019. DIU’s Blue sUAS project, now referred to as ‘1.0,’ followed the SRR program in August 2020 and made minor modifications to five final SRR candidate air vehicles and built integrated commercially-based ground control stations to create a standalone commercial/enterprise configuration available to the Department of Defense (DoD), as well as other U.S. government entities.
The 2.0 project was subsequently created to increase the diversity, capability and affordability of UAS on DIU’s “Blue UAS Cleared List,” bringing a greater variety of UAS with a wide range of modalities, capabilities and price points. A secondary part of the project involves: 1) an effort to define a common standard across the DoD for UAS vendor onboarding; 2) the means to communicate that standard; and 3) a uniform process to assist authorized vendors in the procurement process. In March 2021, DIU sought proposals from UAS vendors and in the brief period the Request for Prototype Proposals was listed on its website, www.sam.gov, DIU received more than 100 responses. From this group, senseFly, along with ten other companies, were selected to participate in the Blue sUAS 2.0 program to prototype a new approval process, significantly increasing the variety of UAS capabilities available to all branches of the U.S. military.
As part of the Blue sUAS 2.0 registration and qualification process, senseFly has completed two demonstrations for U.S. government officials of its highly ruggedized eBee TAC UAV, a hand-launched fixed wing tactical mapping drone solution that enables users in disconnected environments to execute complex mapping and scouting missions safely and efficiently. Weighing only 3.5 pounds, eBee TAC features a digital camouflage skin for increased stealth and can be rapidly deployed, from assembly to hand-launch, in three minutes by a single user.
In late July 2021, an initial technical demonstration took place at Fort Hunter Liggett, the U.S. Army Reserve’s largest training installation, where senseFly’s eBee TAC underwent testing and evaluation of its system configuration, flight test profile and safety of flight procedures, coupled with the repeatability and reliability of flights and data capture. In mid-September 2021, the Company conducted a second demonstration at the U.S. Air Force Academy in Colorado consisting of various flight demos of the eBee TAC for the purpose of testing and evaluating the system’s capabilities in adverse and high altitude environments. senseFly expects to complete the registration process prior to the end of this year.
AgEagle CEO Brandon Torres-Declet stated, “Since their creation more than 50 years ago, drones have continued to evolve, becoming one of the main tools integrated into military and defense forces throughout the world. Through senseFly’s innovative eBee TAC, AgEagle believes our Company can become an important player in the UAS domestic industrial base for the U.S. and its allies, helping to ensure delivery of secure drone mapping and scouting solutions that the DoD and other government entities will come to depend on.”
About AgEagle Aerial Systems Inc.AgEagle and its wholly owned subsidiaries are actively engaged in designing and delivering best-in-class drones, sensors and software that solve important problems for our 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 websites at www.ageagle.com.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a10ab735-ac54-4a4f-8243-5440274ece94.
WICHITA, Kan. and SEATTLE, Oct. 26, 2021 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full-stack drones, sensors and software, today announced the launch of MicaSense’s latest innovation in leading-edge drone sensor technology – the RedEdge-P.
Offering three times the capture speed and twice the spatial resolution of the RedEdge-MX™, the all new RedEdge-P builds on the legacy of the rugged, high-quality, multispectral sensor that the industry has come to trust and adds the power of a higher resolution, panchromatic band to double the output data resolution. A single camera solution which is compatible with a wide array of drone aircraft ranging from large fixed wing to small multirotor, 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 resolutions, while maintaining the efficiency and reliability of its RedEdge™ legacy. Processing of data outputs will be enabled through industry standard software platforms, including AgEagle’s Measure Ground Control.
Agricultural professionals who favor simplification and uniformity of equipment and are looking for a reliable and efficient way to capture radiometrically calibrated RGB and multispectral data, need look no further. With RedEdge-P, they will benefit from a sensor that can enable effective plant counting and spectral analysis of small plants. Likewise, federal, state and local government and commercial forestry enterprises will also benefit from precise, efficient data collection and tree-level analysis as opposed to being limited to analyzing large swaths of land to make critical forestry management decisions.
Justin McAllister, Vice President of Research and Development at MicaSense, an AgEagle company, stated, “We are very proud to be introducing what we believe is the commercial drone industry’s best solution for capturing high-res RGB and multispectral data from a single camera. The RedEdge-P has been purpose-built to enable comprehensive, season-long plant canopy analysis over larger acreage and at a spatial resolution that is considered among the highest available in the industry.”
In July 2021, research firm Stratistics MRC reported that the global drone sensor market will reach $2.54 billion by 2028, growing at a CAGR of 21.2% between 2020 and 2028. The research report noted that the increasing need for high resolution imaging for navigation and mapping and rising advancement in drones are the factors driving market growth.
“By leveraging and amplifying the first-class engineering talent and development expertise of our team, AgEagle is committed to pioneering innovations in drone hardware, software and sensors that empower enterprises and government agencies to do more, see further, go farther. We are very excited to bring yet another industry leading drone solution to market which we expect will have significant, positive impact on how our customers solve challenges and benefit from measurable improvement in efficiencies in their field operations,” added Brandon Torres Declet, Chief Executive Officer of AgEagle.
A photo accompanying this announcement is available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/133a1ff7-f584-4dc3-a2aa-d8e09af58432
