Telerob, an AeroVironment Company, Receives Multi-Million Dollar Unmanned Ground Vehicle Order from Latvian Ministry of Defense

Rhea-AI Summary

AeroVironment (NASDAQ: AVAV) announced a firm-fixed-price multi-million dollar order from the Latvian Ministry of Defense on July 8, 2021. The order includes telemax EVO HYBRID and tEODor EVO unmanned ground vehicles (UGVs) along with engineering support for the Latvian National Armed Forces. Delivery is expected by late 2021. The UGVs enhance the safety and efficiency of Explosive Ordnance Disposal units in identifying and neutralizing explosive devices, allowing operations from greater distances.

Positive

• Multi-million dollar order from the Latvian Ministry of Defense signals strong demand for UGVs.
• Enhanced safety and efficiency in Explosive Ordnance Disposal operations.
• Delivery scheduled for late 2021 indicates timely revenue recognition.

Negative

• None.

• Order includes tEODor EVO and telemax EVO HYBRID unmanned ground vehicles for Latvian National Armed Forces
• Telerob’s advanced unmanned ground robotic solutions safely and effectively perform a variety of dangerous missions using specialized precision manipulators with autonomous functionality and intuitive user operation

ARLINGTON, Va.--(BUSINESS WIRE)-- AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today announced that its wholly owned subsidiary, Telerob Gesellschaft für Fernhantierungstechnik mbH (Telerob), received a multi-million dollar firm-fixed-price order from the Latvian Ministry of Defense (MoD). The order, received on July 8, 2021, encompasses the procurement of telemax™ EVO HYBRID and tEODor™ EVO unmanned ground vehicles (UGVs) and engineering support to the Latvian National Armed Forces. Delivery is scheduled to be completed in late 2021.

telemax EVO HYBRID unmanned ground vehicle (Photo: AeroVironment, Inc.)

“Every year, Latvian Explosive Ordnance Disposal forces neutralize ammunitions of various caliber rifles, artillery shells, minesweepers, aviation bombs and other explosive objects by the thousands,” said Brian Young, AeroVironment vice president and product line general manager of unmanned ground vehicles. “With the deployment of Telerob’s telemax EVO HYBRID and tEODor EVO UGVs, Latvian Explosive Ordnance Disposal units can continue to detect, identify, disarm and render safe explosive devices found throughout the territory of Latvia, as well as in international peacekeeping operations, and they can do so safely and efficiently from a greater standoff distance.”

The tEODor EVO is purpose-built for explosive ordnance disposal and disarming improvised explosive devices. The UGV features a 6-axis manipulator with telescopic reach, is heavy-lift capable (220 pounds/100 kilograms) and can precisely handle hazardous materials with a 12-inch (300 millimeter) gripper that features an integrated laser rangefinder, video input and data interface. Its dual-track drive system with independent high-torque motors allows it to traverse multiple gradients, high obstacles, or steep inclines.

The telemax EVO HYBRID is a versatile UGV with compact dimensions and a strong lift capacity up to 82 pounds (37 kilograms). It features a 6-axis precision manipulator with Tool Center Point Control to give operators humanlike control and a 4-track drive system with auto-leveling to easily handle multiple gradients, gaps and terrains. The telemax EVO HYBIRD is also equipped with HD Pan/Tilt/Zoom cameras that produce razor-sharp images with four simultaneous video feeds.

To learn more about Telerob, an AeroVironment Company, advanced ground robotic solutions, visit https://www.avinc.com/ugv/unmanned-ground-vehicle-solutions.

ABOUT AEROVIRONMENT, INC.

AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can Proceed with Certainty. Headquartered in Virginia, AeroVironment is a global leader in intelligent, multi-domain robotic systems and serves defense, government and commercial customers. For more information, visit www.avinc.com.

ABOUT TELEROB, AN AEROVIRONMENT COMPANY

Telerob is a leading manufacturer of defense and homeland security solutions based in Ostfildern near Stuttgart, Germany. The product range includes remote-controlled unmanned ground vehicles for disarming improvised explosive devices and investigating CBRN hazards, fully equipped service vehicles, as well as mobile system solutions ensuring the safety and security of critical infrastructure and people. For more information, visit https://www.telerob.com/en/.

SAFE HARBOR STATEMENT

Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210928005260/en/

Makayla Thomas

AeroVironment, Inc.

+1 (805) 520-8350

pr@avinc.com

Mark Boyer

For AeroVironment, Inc.

+1 (213) 247-4109

mark@boyersyndicate.com

Source: AeroVironment, Inc.

FAQ

What is the recent contract announced by AeroVironment (AVAV) with the Latvian Ministry of Defense?

AeroVironment announced a multi-million dollar order for telemax EVO HYBRID and tEODor EVO unmanned ground vehicles on July 8, 2021.

When will AeroVironment deliver the unmanned ground vehicles to Latvia?

The delivery of the unmanned ground vehicles is scheduled for late 2021.

How do the unmanned ground vehicles benefit Latvian Explosive Ordnance Disposal units?

The UGVs improve the safety and efficiency of operations, enabling units to neutralize explosive devices from a safer distance.

What types of unmanned ground vehicles are included in the AeroVironment contract?

The contract includes telemax EVO HYBRID and tEODor EVO unmanned ground vehicles.