JACKSONVILLE, Fla., May 5, 2015 /PRNewswire/ — Drone Aviation Holding Corp. (OTCQB: DRNE), a developer of specialized lighter-than-air aerostats and tethered drones, today announced that its wholly owned subsidiary, Drone Aviation Corp. (DAC), has received an order from specialized defense contractor Troll Systems for a set of Winch Aerostat Small Platform (WASP) aerostat systems. Under terms of the award, DAC and Troll will jointly form a working group to integrate the L-3 Wescam MX-10 advanced optical sensor system into the WASP platform for an international customer. The working group plans on commencing integration in May with initial flight testing expected to take place by Q3 2015.
DAC develops and manufactures the WATT Electric Tethered Drone, Blimp in a Box (BiB) and WASP aerostat product lines. The WATT Tethered Drone, as well as the BiB and WASP aerostats, utilize a secure, high strength tether line that remains connected to the ground for safe and reliable operations. DAC’s systems are intended to provide semi-persistent, mobile intelligence, surveillance, and reconnaissance (“ISR”) and extended communications for various applications. Each system can provide low cost, mobile ISR and mobile communications for days, weeks or months. BiB and WASP aerostats are currently in use in a number of U.S. Department of Defense (DoD) applications as well as at State and Local Police and Departments of Transportation where they provide silent, cost effective day and night monitoring and mobile communications.
DoD-owned WASP systems are currently participating in sponsored exercises and are part of future capability studies as part of the DoD’s evaluation of the WASP as a highly mobile, tactical aerostat for ISR and communications. The DoD-owned WASP systems have successfully completed operations in a series of the United States Army Network Integration Experiments (NIEs) and have been recognized by the Army as a tactical battlefield solution that can support soldiers on the ground.
“Drone Aviation is pleased to partner with Troll Systems to expand the capabilities of our WASP platform and to help them meet the stringent requirements of their overseas customers,” said Felicia Hess, CEO of Drone Aviation Holding Corp. “With the addition of the L-3 Wescam MX-10 optical package, we are greatly expanding the operational capabilities of the WASP tethered aerostat system, further demonstrating the platform’s ability to flexibly deliver simple, secure and cost effective tactical surveillance and communications to customers.”
About Troll Systems
Troll Systems is an ISO 9001:2008 certified U.S. manufacturer of advanced microwave datalink solutions. Sold worldwide to commercial broadcast, law enforcement, military and government users, Troll has over 1,000 customers in more than 30 countries, including aircraft OEMs, government agencies, commercial broadcasters, and prime DoD contractors.
About Drone Aviation Holding Corp.
Drone Aviation Holding Corp. (DRNE) develops and manufactures cost-effective, compact and rapidly deployable aerial platforms including lighter-than-air aerostats and electric-powered drones designed to provide government and commercial customers with enhanced surveillance and communication capabilities. Utilizing a proprietary tether system, the Company’s products are designed to provide prolonged operational duration capabilities combined with improved reliability, uniquely fulfilling critical requirements in military, law enforcement and commercial and industrial applications. For more information about Drone Aviation Holding Corp. please visit www.DroneAviationCorp.com or view our reports and filings with the Securities and Exchange Commission on http://www.sec.gov, including the Risk Factors included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014 and in our Current Report on Form 8-K filed with the SEC on June 5, 2014, as well as information about the Company in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
This press release contains projections of future results and other forward-looking statements that involve a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Important factors that may cause actual results and outcomes to differ materially from those contained in the projections and forward-looking statements included in this press release are described in our publicly filed reports. Factors that could cause these differences include, but are not limited to, the acceptance of our products, lack of revenue growth, failure to realize profitability, inability to raise capital and market conditions that negatively affect the market price of our common stock. The Company disclaims any responsibility to update any forward-looking statements.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/drone-aviation-receives-award-from-defense-contractor-troll-systems-for-customized-wasp-lighter-than-air-aerial-system-for-international-customer-300077699.html
SOURCE Drone Aviation Holding Corp.
Copyright © 2015 PR Newswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Source: otc markets