Byrna's Less-Lethal Technologies Gain Traction in Argentina

Rhea-AI Summary

Byrna Technologies expands its presence in Argentina, with significant interest from municipalities and police departments in the country. The Córdoba Provincial Police force purchased 1,000 Byrna launchers, leading to over 40 successful deployments. Byrna's growing foothold in Argentina reflects the demand for less-lethal law enforcement solutions in the region.

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• The Córdoba Provincial Police force purchased 1,000 Byrna launchers, leading to over 40 successful deployments.
• Significant interest from other municipalities in Argentina, including Buenos Aires, Lanus, Tigre, and Ezeiza.
• Byrna's local partner, Bersa S.A., is in negotiations to sell Byrna launchers to equip the Santa Fe Provincial Police.

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• None.

ANDOVER, Mass., Oct. 5, 2023 /PRNewswire/ -- Byrna Technologies Inc. ("Byrna" or the "Company") (Nasdaq: BYRN), a personal defense technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions, today announced a significant expansion of its presence in Argentina where the discourse surrounding less-lethal law enforcement methods and calls to equip police with less lethal weapons have taken center stage in the midst of presidential, provincial, and municipal elections.

The Córdoba Provincial Police force, which comprises of approximately 40,000 officers, recently purchased 1,000 state-of-the-art launchers as part of Byrna's comprehensive rollout that began earlier this year. Since then, local news media have reported more than 40 successful deployments of Byrna launchers by various specialized units of the Córdoba Provincial Police, including road police, special surveillance, and patrol units, highlighting the strong alignment of Byrna's products with the needs of the market.

"This large-scale deployment of Byrna's innovative solutions in the Córdoba Province demonstrates the progressive move towards less-lethal security solutions in Argentina," said Byrna CEO Bryan Ganz. "Byrna launchers, in combination with our powerful projectiles, offer the Córdoba Provincial Police an effective means to neutralize aggressors and threats without resorting to lethal force. This milestone signifies our commitment to advancing less-lethal security options in the region. As we expand our presence across South America through our joint venture, Byrna LATAM, we view this as a pivotal steppingstone towards future deployments. We eagerly anticipate collaborating with agencies in Argentina as they embrace the future of law enforcement through the adoption of less-lethal technologies."

Byrna's impact extends beyond Córdoba, with significant interest from other municipalities in Argentina. Argentina's capital and largest city, Buenos Aires, employs a police department of approximately 26,000 officers and recently took delivery of their initial purchase of 500 Byrna launchers as well as accessories and ammunition. The police departments of Lanus, Tigre, and Ezeiza, municipalities near Buenos Aires, have each recently purchased Byrna launchers and ammunition. Meanwhile Byrna's local partner and distributor, Bersa S.A., is in negotiations to sell Byrna launchers to equip the Santa Fe Provincial Police.

These partnerships highlight the broader shift in Argentina towards less-lethal weapons and are indicative of the ongoing discourse surrounding less-lethal law enforcement methods. Byrna's growing foothold in Argentina is a testament to the effectiveness and demand for less-lethal law enforcement solutions in the region.

Byrna remains dedicated to shaping the global landscape of less-lethal security solutions. As the Company continues to evolve and expand, its trajectory is marked by dynamic collaborations that prioritize human life and security.

About Byrna Technologies Inc.
Byrna is a technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions. For more information on the Company, please visit the corporate website here or the Company's investor relations site here. The Company is the manufacturer of the Byrna® SD personal security device, a state-of-the-art handheld CO2 powered launcher designed to provide a less-lethal alternative to a firearm for the consumer, private security, and law enforcement markets. To purchase Byrna products, visit the Company's e-commerce store.

Forward- Looking Statements
This news release contains "forward-looking statements" within the meaning of the securities laws. All statements contained in this news release, other than statements of current and historical fact, are forward-looking. Often, but not always, forward-looking statements can be identified by the use of words such as "plans," "expects," "intends," "anticipates," and "believes" and statements that certain actions, events or results "may," "could," "would," "should," "might," "occur," or "be achieved," or "will be taken." Forward-looking statements include descriptions of currently occurring matters which may continue in the future. Forward-looking statements in this news release include, but are not limited to, statements regarding the expansion of Byrna LATAM in the South American market, including future collaborations. Forward-looking statements are not, and cannot be, a guarantee of future results or events. Forward-looking statements are based on, among other things, opinions, assumptions, estimates, and analyses that, while considered reasonable by the Company at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies, and other factors that may cause actual results and events to be materially different from those expressed or implied.

Any number of risk factors could affect our actual results and cause them to differ materially from those expressed or implied by the forward-looking statements in this news release, including, but not limited to, challenges relating to expansion in new markets, disappointing market responses to current or future products or services; prolonged, new, or exacerbated disruption of our supply chain; the further or prolonged disruption of new product development; production or distribution or delays in entry or penetration of sales channels due to inventory constraints, competitive factors, civil unrest, increased shipping costs or freight interruptions; prototype, parts and material shortages; potential cancellations of existing or future orders including as a result of any fulfillment delays, introduction of competing products, negative publicity, or other factors; product design defects or recalls; litigation, enforcement proceedings or other regulatory or legal developments; changes in consumer or political sentiment affecting product demand; regulatory factors including the impact of commerce and trade laws and regulations; import-export related matters or sanctions or embargos that could affect the Company's supply chain or markets; and future restrictions on the Company's cash resources, increased costs and other events that could potentially reduce demand for the Company's products or result in order cancellations. The order in which these factors appear should not be construed to indicate their relative importance or priority. We caution that these factors may not be exhaustive; accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results. Investors should carefully consider these and other relevant factors, including those risk factors in Part I, Item 1A, ("Risk Factors") in the Company's most recent Form 10-K, should understand it is impossible to predict or identify all such factors or risks, should not consider the foregoing list, or the risks identified in the Company's SEC filings, to be a complete discussion of all potential risks or uncertainties, and should not place undue reliance on forward-looking information. The Company assumes no obligation to update or revise any forward-looking information, except as required by applicable law.

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SOURCE Byrna Technologies Inc.

FAQ

What is Byrna Technologies expanding in Argentina?

Byrna Technologies is expanding its presence in Argentina.

How many Byrna launchers did the Córdoba Provincial Police force purchase?

The Córdoba Provincial Police force purchased 1,000 Byrna launchers.

How many successful deployments have been reported by the Córdoba Provincial Police?

Over 40 successful deployments have been reported by the Córdoba Provincial Police.

Which municipalities in Argentina have shown interest in Byrna launchers?

Buenos Aires, Lanus, Tigre, and Ezeiza have shown interest in Byrna launchers.

Who is Byrna's local partner in Argentina?

Byrna's local partner in Argentina is Bersa S.A.