Red Cat Endorses Passing of the American Security Drone Act
December 26 2023 - 9:45AM
Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or the “Company”),
a drone technology company integrating robotic hardware and
software for military, government and commercial operations,
endorses the passing of the American Security Drone Act (ASDA) as
an important legislation package that benefits the federal
government, domestic drone businesses, and national security.
Introduced in November 2023, the bipartisan act prevents the
federal government from procuring drones from countries that are
deemed security threats, such as China. It was officially passed
into law as part of the National Defense Authorization Act.
“The passing of the American Security Drone Act is a major
milestone for domestic drone companies and also for protecting the
U.S. and our allies,” stated Jeff Thompson, Founder and CEO of Red
Cat. “Red Cat has invested significantly in our subsidiary Teal
Drones’ factory, which recently went into mass production and can
produce thousands of drones for defense forces and federal
agencies. We are ready to support these organizations as they
transition to safe and secure American-made drones.”
Teal Drones operates a 25,000 square foot manufacturing facility
in Salt Lake City, Utah. The company’s flagship Teal 2 is an
affordable, man-portable solution that is designed to “Dominate the
Night™” with its best-in-class night vision camera, fully modular
design, multi-vehicle control, and artificial intelligence
capabilities. In celebration of its efforts in domestic
manufacturing, Teal Drones was recently selected for a $750,000
Manufacturing Modernization Grant from the State of Utah. The goal
of the grant is to support and modernize domestic manufacturing in
Utah.
Teal 2 is designed to support U.S. military operations, public
safety organizations, and U.S. government agencies in a variety of
environments. It is both Blue UAS Certified, which means it is
approved by the Department of Defense, and FAA Remote ID
approved.
“The government’s support of American manufacturing is
monumental and will ensure that better products are built and used
domestically. This act will level the playing field for American
manufacturing against our greatest geopolitical rival,” stated
Brendan Stewart, VP, Regulatory Affairs at Red Cat. “We are also
committed to supporting legislation to subsidize the cost of
switching drones and will work closely with the government and our
peers to ensure that agencies have access to the best technology
available.”
About Red Cat Holdings, Inc. Red Cat
(Nasdaq: RCAT) is a drone technology company integrating robotic
hardware and software for military, government and commercial
operations. Red Cat’s solutions are designed to “Dominate the
Night™” and include the Teal 2, a small unmanned system offering
the highest-resolution thermal imaging in its class. Learn more at
www.redcatholdings.com.
Forward-Looking Statements This press
release contains "forward-looking statements" that are subject to
substantial risks and uncertainties. All statements, other than
statements of historical fact, contained in this press release are
forward-looking statements. Forward-looking statements contained in
this press release may be identified by the use of words such as
"anticipate," "believe," "contemplate," "could," "estimate,"
"expect," "intend," "seek," "may," "might," "plan," "potential,"
"predict," "project," "target," "aim," "should," "will," "would,"
or the negative of these words or other similar expressions,
although not all forward-looking statements contain these words.
Forward-looking statements are based on Red Cat Holdings, Inc.'s
current expectations and are subject to inherent uncertainties,
risks and assumptions that are difficult to predict. Further,
certain forward-looking statements are based on assumptions as to
future events that may not prove to be accurate. These and other
risks and uncertainties are described more fully in the section
titled "Risk Factors" in the final prospectus related to the public
offering filed with the Securities and Exchange Commission.
Forward-looking statements contained in this announcement are made
as of this date, and Red Cat Holdings, Inc. undertakes no duty to
update such information except as required under applicable
law.
Contacts NEWS MEDIA: CORE Public
RelationsPhone: (516)
222-2560 Email: media@redcat.red
INVESTORS: CORE IR Phone: (516)
222-2560 Email: investors@redcat.redWebsite: https://www.redcatholdings.com
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