LTAS, a Division of COMSovereign Awarded $8.4 Million Multi-Unit Aerostat Subcontract from U.S. Government Prime Contractor
COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) announced that its subsidiary, Drone Aviation, secured an $8.4 million subcontract from a U.S. Government prime contractor for its Winch Aerostat Small Platform (WASP) and support services. The first unit fulfillment is expected to start in May 2022. This contract validates the company's innovative tethered aerostat technology amidst growing interest in government and commercial applications. Additionally, it signals potential easing of contract delays experienced in 2021, providing optimism for future milestones in 2022.
- Awarded an $8.4 million subcontract, indicating strong demand for products.
- Initial unit fulfillment projected to start in May 2022, suggesting immediate revenue recognition.
- The WASP system supports enhanced tactical operations, appealing to government and commercial markets.
- Several contract awards delayed in 2021, though there is optimism for recovery in 2022.
DALLAS, Jan. 21, 2022 /PRNewswire/ -- COMSovereign Holding Corp. (NASDAQ: COMS and COMSP) ("COMSovereign" or the "Company"), a U.S.-based developer of 4G LTE Advanced and 5G communication systems and solutions today announced that its Lighter Than Air Systems ("LTAS") subsidiary, dba Drone Aviation, has been awarded a multi-unit,
Based on current production scheduling, Drone Aviation anticipates the initial unit fulfillment under this subcontract to start in May 2022.
"Today's award for new WASP systems is a major endorsement of our unique, rapidly deployable tethered aerostat technology. It was the technology and operating advantages of our WASP aerostat that resulted in our selection for this award. We are excited to begin working with our new prime contractor partner on this program and to helping this important government customer meet their mission requirements," said Dan Hodges, Chairman and CEO of COMSovereign Holding Corp. "Our Sky Sovereign business unit enters 2022 with significant growing interest in its tethered aerial platforms for both government and commercial end-users. Although we have seen several contract awards delayed through the course of 2021, this award gives us reason to be optimistic that those delays will ease during 2022 and we are looking forward to achieving several new milestones in the coming months."
The WASP is a highly tactical and mobile aerostat system which can be operated by a crew of two and can provide day/night video, secure multi-frequency and multi-wave form wireless communication range extension capability from an unimproved site or while being towed. U.S. Army soldier-operated and DHS agent-operated WASP systems have accumulated thousands of flight hours across the U.S., Middle East and Africa. Operating at altitudes of up to 1,500 feet AGL, the WASP system can significantly extend Intelligence, Surveillance and Reconnaissance ("ISR") capabilities and secure communications in remote and austere locations. The systems can be rapidly configured to support a variety of mission requirements for days, weeks or months with customized payloads.
For more information about COMSovereign, please visit www.COMSovereign.com and connect with us on Facebook and Twitter.
About COMSovereign Holding Corp.
COMSovereign Holding Corp. (Nasdaq: COMS and COMSP) has assembled a portfolio of communications technology companies that enhance connectivity across the entire network. By combining strategic acquisitions with organic research and development efforts, COMSovereign has built a U.S.-based communications solution provider able to deliver end-to-end 4G LTE Advanced and 5G-NR telecom solutions to network operators, enterprises, and governments. For more information about COMSovereign, please visit www.COMSovereign.com.
Forward-Looking Statements
Certain statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as "believe," "expects," "may," "looks to," "will," "should," "plan," "intend," "on condition," "target," "see," "potential," "estimates," "preliminary," or "anticipates" or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects. Moreover, forward-looking statements in this release include, but are not limited to, the impact of the current COVID-19 pandemic, which may limit access to the Company's facilities, customers, management, support staff, and professional advisors, and its ability to support future military and government needs for advanced aerial platforms such as aerostats, and demand for the Company's products and services, the availability of parts and components for the manufacture of products, economic conditions in the U.S. and worldwide, and the Company's ability to recruit and retain management, technical, and sales personnel. Further information relating to factors that may impact the Company's results and forward-looking statements are disclosed in the Company's filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Investor Relations for COMSovereign Holding Corp.:
Steve Gersten, Director of Investor Relations
COMSovereign Holding Corp.
813-334-9745
investors@comsovereign.com
and
Media Relations for COMSovereign Holding Corp.:
Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net
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SOURCE COMSovereign Holding Corp.
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