Drone Aviation's Tethered Drones in Compliance With Historic New FAA Commercial Drone Regulations
Company Accelerates Production Schedule Following FAA Announcement
JACKSONVILLE, FL -- (Marketwired) -- 06/22/16 --
Drone Aviation Holding Corp. (OTCQX: DRNE) ("DAC" or "Drone Aviation"), a manufacturer of tethered drones and lighter-than-air aerostats, today announced it has accelerated the production schedule of the WATT line of tethered drones, investing in expanded inventory levels as a result of the historic announcement of the FAA's first operational rules allowing the operation of small unmanned aircraft systems (sUAS) into the National Air Space (NAS) for commercial purposes. The FAA rules include many guidelines believed to be beneficial for the safe operation of DAC's tethered drones, including the ability to operate a continuous flight up to 400 feet during daylight hours with a single operator maintaining direct line of sight of the drone at all times.
The new rules are expected to have a positive impact for state entities exploring how to deploy drones to support first responders as well as commercial entities seeking to expand security for large public venues and commercial facilities. Furthermore, the new rules are expected to greatly facilitate the use of DAC's tethered drone technology for news gathering and infrastructure inspection applications. Coinciding with the new FAA rules taking effect in August, DAC plans to launch an "Early Adopter Program" with existing partners and potential customers in key vertical markets in an effort to aid in the evaluation and integration of the WATT into live environments in compliance with FAA rules.
"Today's announcement by the FAA is a momentous event for the aviation industry, something eagerly awaited by every stakeholder in the commercial market, including potential customers, operators and manufacturers," said Jay Nussbaum, Chairman and CEO of Drone Aviation Corp. "The importance of the FAA announcement is that we, together with our potential customers, gain the ability to make more informed purchasing decisions supported by a clearer understanding of operating requirements. The new rules also validate our strategic approach to tethered drone development, confirming our alignment with the FAA's views on safety, and we are looking forward to advancing our commercial sales activities under a much simpler and faster path to flight."
Drone Aviation's WATT commercial electric tethered drones are designed to provide secure and reliable aerial monitoring for extended durations utilizing a high strength tether connected to the ground in direct visual sight at altitudes up to 400 ft. Unlike "hobbycraft" drones, WATT is uniquely suited for a wide number of emergency response, public security, and news gathering applications, while other aircraft are unable to deliver the long flight duration and commercial grade real-time video monitoring capabilities needed.
About Drone Aviation Holding Corp.
Drone Aviation Holding Corp. (OTCQX: 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, Drone Aviation's products are designed to provide prolonged operational duration capabilities combined with improved reliability, uniquely fulfilling critical requirements in military, law enforcement, 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, 2015, as well as information in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
This press release contains projections of future results, statements regarding strategy or plans for customer growth, product development and market position, 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.
Source: Drone Aviation
Released June 22, 2016