Alpine 4 Holdings (ALPP) Subsidiary Vayu Aerospace Corporation and ENSCO Enter into a Drone Sales Agreement for Its US-1 Long Flight Duration Drone
On March 23, 2022, Alpine 4 Holdings (ALPP) announced that its subsidiary, Vayu Aerospace Corporation, has entered into a procurement agreement with ENSCO to acquire the US-1 drone. This drone is intended for various applications, including those for the Department of Defense and Homeland Security. Vayu's President, TK Eppley, highlighted ongoing developments in drone production and the company's ability to manufacture the US-2 model. Alpine 4's CEO, Kent Wilson, praised the team's efforts in ensuring the removal of Chinese components from their drones, emphasizing their commitment to US manufacturing.
- Vayu Aerospace's procurement agreement with ENSCO for US-1 drones enhances revenue opportunities.
- Removal of Chinese components from drones may improve marketability and appeal to government contracts.
- Development of US-2 drone shows forward momentum in product innovation.
- None.
PHOENIX, March 23, 2022 /PRNewswire/ -- Alpine 4 Holdings, Inc. (Nasdaq: ALPP), a leading operator and owner of small market businesses announced today that its subsidiary, Vayu Aerospace Corporation (VAYU) and ENSCO have entered into a procurement agreement to acquire the US-1 drone for its operations in the United States. Vayu has developed several use case applications for the Department of Defense, Homeland Security, Border Patrol, and several industrial sectors including rail and energy.
Vayu's President, TK Eppley commented, "When I was hired 9 months ago, I was tasked with building out a drone production facility. As we sell through our remaining US-1's, we continue to progress on the development of the US-2 and have created the capabilities to manufacture G1 aircraft faster than ever before. It's incredibly gratifying to be fulfilling orders and to be doing business with a company of Ensco's caliber."
Kent Wilson, CEO of Alpine 4, had this to say, "TK and his team have done a great job professionalizing the airframes Vayu offers. When we hired TK last summer, we made the decision to proactively remove all Chinese electrical components from our drones. This process has led us to a point where we are actively selling our airframes to customers like Ensco and are able to provide airframes to the US government and companies that need a true US manufactured and component sourced product. We congratulate TK and his team for a job well done!"
ENSCO is a provider of engineering, science, and advanced technology equipment for the defense, security, transportation, and aerospace industries.
About Alpine 4 Holdings: Alpine 4 Holdings, Inc. (ALPP) is a NASDAQ traded conglomerate that acquires businesses that fit into its disruptive DSF business model of Drivers, Stabilizers, and Facilitators. At Alpine 4, we understand the nature of how technology and innovation can accentuate a business. Our focus is on how the adaptation of new technologies, even in brick-and-mortar businesses, can drive innovation. We also believe that our holdings should benefit synergistically from each other, have the ability to collaborate across varying industries, spawn new ideas, and create fertile ground for competitive advantages.
Four principles at the core of our business are Synergy. Innovation. Drive. Excellence. At Alpine 4, we believe synergistic innovation drives excellence. By anchoring these words to our combined experience and capabilities, we can aggressively pursue opportunities within and across vertical markets. We deliver solutions that not only drive industry standards, but also increase value for our shareholders.
Contact: Investor Relations at investorrelations@alpine4.com
Forward-Looking Statements: Certain statements and information in this press release may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the Private Securities Litigation Reform Act of 1995. The information disclosed in this press release is made as of the date hereof and reflects Alpine 4 most current assessment of its historical financial performance. Actual financial results filed with the SEC may differ from those contained herein due to timing delays between the date of this release and confirmation of final audit results. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties, including the uncertainties surrounding the current market volatility, and other factors the Company identifies from time to time in its filings with the SEC. Although Alpine 4 believes that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Alpine 4 disclaims any intention or obligation to update the forward-looking statements for subsequent events.
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