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UAS Drone Corp. (USDR) has announced the advancement of its commercial activities following the successful pilot of its IC Drone with the Israel Electric (IEC). The pilot program, initiated in August 2022 and completed in October 2023, demonstrated the drone's efficiency and safety in maintaining electric utility cable insulators. This first-of-its-kind drone system reduces water usage and costs, promoting environmental sustainability. Now, the company aims to expand globally, offering maintenance and washing services for electrical utilities either independently or with strategic partners. CEO Yossef Balucka highlighted the milestone's significance, emphasizing the potential benefits for electrical companies worldwide.
UAS Drone Corp. (OTCQB: USDR) has announced significant amendments to its warrant agreements from a private placement in May 2021. Key changes include an increase in the exercise price of the warrants from $0.40 to $0.65 per share, marking a 62.5% rise. Additionally, the warrant term has been extended to May 11, 2026, and a beneficial ownership limitation has been introduced, preventing holders from exercising the warrants if it would result in them owning more than 19.99% of the company's outstanding common stock. The company believes these amendments will enhance shareholder value and support long-term growth.
UAS Drone Corp (OTCQB: USDR) has signed an agreement with Israel Electric Corporation Ltd. (IEC) to pilot the IC Drone, a drone-enabled insulator cleaning system. This innovative system, currently in development, aims to revolutionize the maintenance of high-voltage electrical infrastructure. The operational launch and revenue generation are expected in the second half of 2023. This partnership marks Duke Robotics' first civilian application, indicating substantial growth potential for the company in the drone market.
UAS Drone Corp. (OTCQB: USDR) has signed a lease for a new facility at the Mevo Carmel Science and Industry Park in Israel, enhancing operational flexibility for its drone technology. The new site is strategically located near Elbit Systems Land Ltd., with whom UAS Drone has a collaboration agreement for the Sniper Drone. CEO Yossef Balucka emphasized the facility's role in meeting rising demand for drone solutions in military and civilian markets. The transition is expected in summer 2022, as the company continues exploring applications for its proprietary TIKAD robotic system.
UAS Drone Corp. (OTCQB: USDR) announced significant interest in its Sniper Drone at a major international airshow in Singapore. The CEO, Yossef Balucka, emphasized the rising demand for robotic drone systems in combat, particularly given current global military tensions. The company's collaboration with Elbit Systems positions it well to meet this demand, which has surged following the strategic agreement established in 2021. UAS Drone completed the acquisition of Duke Robotics in 2020, enhancing its capabilities in defense technology.
UAS Drone Corp. (OTCQB: USDR) filed its Annual Report for the year ending December 31, 2021, following its reverse merger with Duke Robotics.
Highlights include $500,000 in revenue from a collaboration with Elbit Systems, along with a $5 million private placement aimed at advancing robotics technology.
The company also appointed Yossef Balucka as CEO and received a patent for stabilization technology crucial to its TIKAD system, enhancing its competitive stance in the defense industry.
UAS Drone Corp. (OTCQB: USDR) recently highlighted its achievements in 2021, marking a pivotal year for growth and innovation. Key milestones include a significant collaboration agreement with Elbit Systems for the TIKAD product, the appointment of Yossef Balucka as CEO, and the successful raising of approximately $5 million to fund future expansion. Additionally, the company received a patent for its stabilization technology, positioning it for increased demand in robotic solutions in 2022, particularly in the defense sector.
UAS Drone Corp. (OTCQB: USDR) announced that its Israeli subsidiary, Duke Airborne Systems Ltd., received a notice of allowance for a patent on its "Stabilization System" technology. CEO Yossef Balucka stated that this patent reflects their commitment to developing proprietary technology with potential applications in both military and civilian sectors. The stabilization technology enhances remote targeting capabilities using drones, aiming to improve safety for military personnel. The patent signifies a milestone in their innovation journey.
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