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Duke Robotics (OTCQB: DUKR) has begun generating revenue from its agreement with Israel Electric (IEC) for high-voltage insulator washing services using its IC Drone technology. The agreement guarantees a minimum payment in the low seven figures (in NIS) within the first year. This milestone marks Duke Robotics' transition from development to active service provision in the civilian sector.
The company has already started reporting revenue from this initiative in its Q3 2024 financial statements. With the IC Drone now fully operational, Duke Robotics plans to expand its offering to utility providers globally, leveraging its success with IEC.
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