Red Cat Subsidiary Teal Drones Secures $1.2M Additional Funding for U.S. Army’s Short Range Reconnaissance Program
28 Junho 2023 - 9:46AM
Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or the “Company”),
a military technology company integrating robotic hardware and
software to protect and support the warfighter, today announces
that subsidiary Teal Drones (“Teal”) has secured an additional $1.2
million to continue developing a new sUAS prototype for the U.S.
Army’s Short Range Reconnaissance (SRR) program.
Teal was first awarded a prototype contract for the
SRR Tranche 2 program in March 2022, and the Army is now obligating
a total of $2.7 million for Teal’s participation. Teal is one of
only three vendors competing in Tranche 2, which the Army has
advised will now be the final tranche of the SRR program.
After vendors complete a series of testing and
demonstration milestones, the winning vendor(s) will be selected to
produce a rucksack-portable sUAS. The system will provide Army
platoons (20 to 50 soldiers) with a rapidly deployable surveillance
and reconnaissance capability to gain situational awareness beyond
the next terrain feature.
The newly obligated funding brings additional
objective requirements, originally assigned to Tranche 3, for the
sUAS prototypes to meet.
“A future SRR production contract is a major
opportunity for any company selected, and Teal is excited to give
the warfighter the best we have,” said Teal Founder and CEO George
Matus. “I’m confident the SRR prototype we’re developing will meet
and exceed the Army’s requirements.”
“Uncrewed systems are a disruptive technology that
provide soldiers an unfair advantage on the battlefield,” said Maj.
Josh McMillion, U.S. Army SRR APM. “SRR is the Army’s solution to
provide this capability now to ensure our soldiers have the
technological edge over the enemy in any operational environment
and never have a fair fight.”
Teal’s prototype will feature some of the same
technology found in its new military-grade sUAS, the Teal 2,
officially launched in April. Teal 2 is designed to “Dominate the
Night™” and arrives as the world’s leading sUAS for nighttime
operations. The system offers the latest intelligence,
surveillance, and reconnaissance (ISR) technology, delivering
time-critical information and enabling operators to make faster,
smarter decisions.
Teal’s technology partners for its SRR effort
include Teledyne FLIR, Doodle Labs and Immervision.
About Red Cat Holdings, Inc. Red
Cat (Nasdaq: RCAT) is a military technology company that integrates
robotic hardware and software to provide critical situational
awareness and actionable intelligence to on-the-ground warfighters
and battlefield commanders. Its mission is to enhance the
effectiveness and safety of military operations domestically and
globally – and to “Dominate the Night™.” Red Cat’s suite of
solutions includes Teal Drones, developer of the Teal 2, a small
unmanned system with the highest resolution imaging for nighttime
operations, and Skypersonic, a leading provider of unmanned
aircraft for interior spaces and other dangerous environments.
Learn more at https://www.redcatholdings.com.
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Contacts NEWS MEDIA:Anthony
PriwerDalton AgencyPhone: (615) 515-4891Email:
apriwer@daltonagency.com
INVESTORS:CORE IRPhone: (516) 222-2560Email:
investors@redcat.redWebsite: https://www.redcatholdings.com
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