SAN JUAN, Puerto Rico, June 28, 2023 (WORLD NEWSWIRE) — Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or the “Company”), a military innovation business incorporating robotic software and hardware to safeguard and support the warfighter, today reveals that subsidiary Teal Drones (“Teal”) has actually protected an extra $1.2 million to continue establishing a brand-new sUAS model for the U.S. Army’s Short Range Reconnaissance (SRR) program.
Teal was very first granted a model agreement for the SRR Tranche 2 program in March 2022, and the Army is now binding an overall of $2.7 million for Teal’s involvement. Teal is among just 3 suppliers contending in Tranche 2, which the Army has actually encouraged will now be the last tranche of the SRR program.
After suppliers finish a series of screening and presentation turning points, the winning supplier(s) will be chosen to produce a rucksack-portable sUAS. The system will offer Army squadrons (20 to 50 soldiers) with a quickly deployable monitoring and reconnaissance ability to get situational awareness beyond the next surface function.
The recently obliged financing brings extra unbiased requirements, initially appointed to Tranche 3, for the sUAS models to satisfy.
“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 model will include a few of the very same innovation discovered in its brand-new military-grade sUAS, the Teal 2, formally released in April. Teal 2 is created to “Dominate the Night™” and shows up as the world’s leading sUAS for nighttime operations. The system provides the latest intelligence, monitoring, and reconnaissance (ISR) innovation, providing time-critical info and making it possible for operators to make faster, smarter choices.
Teal’s innovation partners for its SRR effort consist of Teledyne FLIR, Doodle Labs and Immervision.
About Red Cat Holdings, Inc.
Red Cat (Nasdaq: RCAT) is a military innovation business that incorporates robotic software and hardware to offer important situational awareness and actionable intelligence to on-the-ground warfighters and battleground leaders. Its objective is to boost the efficiency and safety of military operations locally and internationally – and to “Dominate the Night™.” Red Cat’s suite of services consists of Teal Drones, designer of the Teal 2, a little unmanned system with the greatest resolution imaging for nighttime operations, and Skypersonic, a leading supplier of unmanned airplane for interior areas and other unsafe environments. Learn more at .
Forward-Looking Statements
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