AgEagle Announces $2M Drone (UAV) Sale to United Arab Emirates Distributor
Rhea-AI Summary
AgEagle Aerial Systems has announced a $2 million sale of 20 eBee VISION full-stack drone systems to a distributor in the United Arab Emirates. This deal, expected to be fulfilled within fiscal year 2024, includes control systems, batteries, backpacks, and spares. This contract emphasizes AgEagle's commitment to enhancing public safety and security through advanced UAV technology. CEO Bill Irby highlighted the growing global demand for UAV defense solutions. FEDS Drone-powered Solutions CEO Rabih Bou Rached praised the eBee VISION's extended range and flight time, deeming it ideal for the Middle East's Public Safety & Security sector.
Positive
- Secured a $2 million contract for 20 eBee VISION systems.
- Highlights increasing global demand for UAV defense solutions.
- Strengthens AgEagle's presence in the Middle East market.
- Includes complete systems with control units, batteries, and backpacks.
Negative
- The contract value represents a small portion of potential revenue, indicating immediate financial impact.
- Potential risks if the technology does not meet the operational needs of the UAE distributor.
News Market Reaction
On the day this news was published, UAVS declined 1.18%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
- 20 eBee VISION full-stack systems for public safety and security in the Middle East
- New customer award further validates defense & security strategy
WICHITA, Kan., June 18, 2024 (GLOBE NEWSWIRE) -- AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of best-in-class full stack flight hardware, sensors and software for commercial and government use, has announced that the Company has secured a purchase order to deliver 20 eBee VISION full-stack systems with control systems, batteries, backpacks, and limited spares, to a leading distributor in the United Arab Emirates (UAE). The value of this system contract is expected to be approximately
Bill Irby, CEO of AgEagle, commented, “As the need for enhanced public safety and security grows globally, we are grateful to support another government customer with best-in-class UAV defense solutions for their intelligence, surveillance and reconnaissance missions.”
FEDS Drone-powered Solutions Founder and CEO Rabih Bou Rached added, “We believe AgEagle’s new eBee VISION system, with its extended range and increased flight time, is perfectly suited for the Public Safety & Security sector. We are thrilled to bring this technology to the Middle East.”
For more information on the eBee VISION: https://campaign.ageagle.com/ebee-vision-drone
About AgEagle Aerial Systems Inc.
Through its three centers of excellence, AgEagle is actively engaged in designing and delivering best-in-class flight hardware, sensors and software that solve important problems for its customers. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack drone solutions for customers worldwide in the energy, construction, agriculture, and government verticals. For additional information, please visit our website at www.ageagle.com.
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our competitive position, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars, or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.
AgEagle Aerial Systems Contacts:
Investor Relations Email: UAVS@ageagle.com
Media Email: media@ageagle.com
FAQ
What is the value of AgEagle's latest drone sale contract?
Which product has AgEagle sold to the UAE distributor?
When is the $2M drone sale expected to be fulfilled?
What are the features of the eBee VISION system?
Why is the eBee VISION system suitable for the Middle East's Public Safety & Security sector?
