Red Cat to Supply FlightWave Edge 130 Blue Systems to Royal Australian Navy
Rhea-AI Summary
Red Cat Holdings (Nasdaq: RCAT) has secured a contract to supply 12 FlightWave Edge 130 Blue systems to the Royal Australian Navy through Criterion Solutions Pty The Edge 130 Blue, acquired through Red Cat's September 2024 acquisition of FlightWave, is a military-grade tricopter designed for long-range surveillance and reconnaissance.
The system features 60+ minute flight time, weighs 1200g, and can be assembled and launched by a single user in one minute. This contract expands Red Cat's relationship with Australian defense forces, strengthening their presence in the Indo-Pacific region's defense sector.
Positive
- Secured new contract with Royal Australian Navy for 12 FlightWave Edge 130 Blue systems
- Strategic expansion into Australian defense market
- Recent acquisition of FlightWave strengthens product portfolio
Negative
- None.
News Market Reaction – RCAT
On the day this news was published, RCAT gained 13.75%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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Company expands relationship with Australian Defense Force
SAN JUAN, Puerto Rico, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat”), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, today announced a new contract and order for 12 of its FlightWave Edge 130 Blue system from the Royal Australian Navy. The contract was secured through Criterion Solutions Pty Ltd., an Australian-based distributor of intelligence, surveillance, reconnaissance and information technology solutions.
FlightWave, an industry-leading provider of VTOL drone, sensor and software solutions was acquired by Red Cat in September 2024. The acquisition brought FlightWave’s flagship drone, the Edge 130 Blue into its family of low-cost, portable unmanned reconnaissance and precision lethal strike systems. FlightWave’s size, weight and vertical take off capabilities makes it ideal for maritime operations and littoral environments.
“Our mission is to equip warfighters around the globe with cutting-edge sUAS technology. The Edge 130 Blue, with its advanced long-range surveillance and reconnaissance capabilities, offers a significant advantage in maritime and other challenging environments,” stated Jeff Thompson, CEO of Red Cat. “We are excited to expand our partnership with the Australian defense forces through this initial tranche of Edge 130 units. Their investment in small ISR and precision strike drones is vital for enhancing security and stability in the Indo-Pacific region.”
The Edge 130 Blue is a UAS-certified military-grade tricopter for long-range mapping, inspection, surveillance, and reconnaissance needs. Designed specifically for government and military applications, the Edge 130 Blue can be assembled and hand-launched in just one minute by a single user to capture high-accuracy aerial imagery with medium-range autonomy. Weighing in at only 1200g, the Edge has a 60+ minute flight time in forward mode, an industry-leading endurance among all other Blue UAS-approved drones available.
Earlier this month, Red Cat introduced its ARACHNID™ family of unmanned intelligence, surveillance, and reconnaissance (ISR) and precision strike systems at AUSA 2024 Annual Meeting and Exposition in Washington D.C. As part of its ongoing innovation, Red Cat’s product roadmap includes TRICHON™, which will build upon the FlightWave Edge 130 Blue.
About Red Cat, Inc.
Red Cat (Nasdaq: RCAT) is a drone technology company integrating robotic hardware and software for military, government, and commercial operations. Through two wholly owned subsidiaries, Teal Drones and FlightWave Aerospace, Red Cat has developed a bleeding-edge Family of ISR and Precision Strike Systems including the Teal 2, a small unmanned system offering the highest-resolution thermal imaging in its class, the Edge 130 Blue Tricopter for extended endurance and range, and FANG™, the industry's first line of NDAA compliant FPV drones optimized for military operations with precision strike capabilities. Learn more at www.redcat.red.
About FlightWave
FlightWave Aerospace Systems Corporation is an industry leading manufacturer of dual-use VTOL drones, sensors and software solutions located in Santa Monica, CA. FlightWave designs and manufactures the Edge 130 VTOL drone and payload cameras for the commercial, defense, security, and intelligence markets. The fully-autonomous Edge 130 sUAS has the best flight endurance in the industry and with AI edge compute capabilities, provides superior aerial data capture to both the commercial and defense markets.
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.
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