Red Cat Holdings Receives FAA Waiver to Hold Public Demo of Eris Multi-Drone Technology
August 29 2022 - 8:00AM
Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or “Company”), a
hardware-enabled software provider to the drone industry, announces
that its subsidiary Teal Drones has been granted a waiver by the
Federal Aviation Administration (FAA) that allows a single pilot to
simultaneously control multiple drones for the first public flight
demonstration of the Company’s Eris multi-drone technology. This
waiver is one of the first to be issued by the FAA that approves
the operation of a dynamically re-taskable multi-drone system. Red
Cat intends to hold this multi-drone flight demonstration on
Tuesday, October 25, 2022 at Kane Stadium in Secaucus, New Jersey.
Historically, very few waivers have been
approved by the FAA for similar multi-drone operations, and those
that have been granted were to operate only pre-programmed swarms
of light-pixel drones for use in static display configurations,
such as firework displays, or for limited performance testing
applications, and only in select locations. Red Cat’s waiver allows
dynamic re-tasking by the pilot in command, such that instead of
flying a pre-coordinated low-risk display, the pilot is authorized
to adjust the trajectory of the drones in real time. This minor
differentiation has long been a critical missing link needed to
implement multi-drone technology in real-world applications, such
as infrastructure and public safety inspections.
Red Cat was able to receive this waiver by
working in close partnership with the FAA to validate multi-drone
operation and establish the performance criteria to normalize it by
integrating reliability-focused design features and extensive
testing of safety-critical components. This waiver is yet another
milestone in Red Cat’s approach to make small drones a ubiquitous
tool across industries. The risk-based precedent set by this waiver
will ideally open the door to future FAA authorizations on a
regular basis that allow for multi-drone technology implementation
by Red Cat, reducing the cost and complexity of implementing drone
technology for its customers across verticals like critical asset
inspections, public safety, and more. Moreover, the Company’s deep
engineering expertise and collaborative relationship with
regulators allows it to deploy drone technology to tackle
previously expensive, impractical, or unapproved applications and
empower its customers to achieve maximum return on investment with
their own drone programs.
About Red Cat Holdings, Inc.
Red Cat provides drone-based products, services, and solutions
through its four subsidiaries and services the enterprise,
military, and consumer markets. Teal Drones is a leader in unmanned
aircraft systems (UAS), and its Golden Eagle is one of only five
drones approved by the Department of Defense for reconnaissance,
public safety, and inspection applications. Skypersonic’s
technology enables drones to complete inspection services in
locations where GPS is not available, yet still record and transmit
data even while being operated from thousands of miles
away. Fat Shark is a leading provider of First Person View
(FPV) video goggles. Rotor Riot, LLC is a reseller of FPV
drones and equipment, primarily to the consumer marketplace. Learn
more at https://www.redcatholdings.com/.
Forward Looking StatementsThis
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.
Contact:
INVESTORS: |
NEWS MEDIA: |
CORE IR |
Dalton Agency |
Phone: (516) 222-2560 |
(615) 515-4880 (o) |
E-mail: Investors@redcat.red |
(615) 337-0964 (m) |
Website: https://www.redcatholdings.com/ |
Email:
jbradford@daltonagency.com |
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