Trust Stamp has licensed its computer vision and other AI-based technologies for use in Hydrogen-Powered Search & Rescue, Humanitarian Services, Surveillance, and Delivery Drones in a transaction generating $5,000,000 of income for Trust Stamp in Q3 of 2024
Trust Stamp (IDAI) has licensed its AI technologies to Boumarang Inc. for use in hydrogen-powered drones, generating $5 million in income for Q3 2024. The deal involves integrating Trust Stamp's computer vision and data tokenization into Boumarang's UAV systems for search & rescue, humanitarian services, surveillance, and delivery applications.
The collaboration targets the rapidly growing global drone market, expected to reach $166.7 billion by 2031 with a 25% CAGR. Hydrogen-powered drones offer advantages like longer flight times and reduced environmental impact. Trust Stamp received the license fee as pre-paid common stock warrants, gaining equity participation in Boumarang.
Trust Stamp (IDAI) ha concesso in licenza le sue tecnologie AI a Boumarang Inc. per l'impiego in droni alimentati a idrogeno, generando 5 milioni di dollari di entrate per il terzo trimestre del 2024. L'accordo prevede l'integrazione della visione artificiale e della tokenizzazione dei dati di Trust Stamp nei sistemi UAV di Boumarang per applicazioni di ricerca e salvataggio, servizi umanitari, sorveglianza e consegna.
La collaborazione mira al rapidamente crescente mercato globale dei droni, previsto raggiungere 166,7 miliardi di dollari entro il 2031 con un CAGR del 25%. I droni alimentati a idrogeno offrono vantaggi come tempi di volo più lunghi e un ridotto impatto ambientale. Trust Stamp ha ricevuto la tassa di licenza sotto forma di warrant azionari prepagati, ottenendo partecipazione azionaria in Boumarang.
Trust Stamp (IDAI) ha licenciado sus tecnologías de IA a Boumarang Inc. para su uso en drones propulsados por hidrógeno, generando 5 millones de dólares en ingresos para el tercer trimestre de 2024. El acuerdo implica integrar la visión por computadora y la tokenización de datos de Trust Stamp en los sistemas UAV de Boumarang para aplicaciones de búsqueda y rescate, servicios humanitarios, vigilancia y entrega.
La colaboración se dirige al rápidamente creciente mercado global de drones, que se espera alcance 166,7 mil millones de dólares para 2031 con un CAGR del 25%. Los drones propulsados por hidrógeno ofrecen ventajas como tiempos de vuelo más largos y un menor impacto ambiental. Trust Stamp recibió la tarifa de licencia como warrants accionarios prepagados, obteniendo participación en Boumarang.
Trust Stamp (IDAI)는 Boumarang Inc.에 수소 동력 드론에서 사용할 AI 기술을 라이선스 하여 2024년 3분기 500만 달러의 수익을 창출했습니다. 이 거래는 Trust Stamp의 컴퓨터 비전과 데이터 토큰화 기술을 Boumarang의 UAV 시스템에 통합하여 구조 및 구호, 인도적 서비스, 감시 및 배송 애플리케이션에 활용하는 것을 포함합니다.
이번 협력은 2031년까지 1,667억 달러에 이를 것으로 예상되는 급속히 성장하는 글로벌 드론 시장을 목표로 하고 있으며, 이는 연평균 25% 성장률(CAGR)을 기록할 것으로 보입니다. 수소 동력 드론은 더 긴 비행 시간과 환경 영향을 줄이는 장점을 제공합니다. Trust Stamp는 사전 지급된 보통주 워런트 형태로 라이선스 수수료를 수령하여 Boumarang에 대한 지분 참여를 얻었습니다.
Trust Stamp (IDAI) a concédé sous licence ses technologies d'IA à Boumarang Inc. pour une utilisation dans des drones alimentés à l'hydrogène, générant 5 millions de dollars de revenus pour le troisième trimestre 2024. L'accord implique l'intégration de la vision par ordinateur et de la tokenisation des données de Trust Stamp dans les systèmes UAV de Boumarang pour des applications de recherche et de sauvetage, de services humanitaires, de surveillance et de livraison.
La collaboration vise le marché mondial des drones en rapide expansion, qui devrait atteindre 166,7 milliards de dollars d'ici 2031 avec un TCAC de 25%. Les drones alimentés à l'hydrogène offrent des avantages tels que des temps de vol plus longs et un impact environnemental réduit. Trust Stamp a reçu la redevance de licence sous forme de bons de souscription d'actions ordinaires prépayés, obtenant ainsi une participation dans Boumarang.
Trust Stamp (IDAI) hat seine KI-Technologien an Boumarang Inc. lizenziert, um sie in wasserstoffbetriebenen Drohnen zu verwenden, was 5 Millionen US-Dollar Umsatz für das dritte Quartal 2024 generiert. Der Vertrag umfasst die Integration der Computer Vision und Daten-Tokenisierung von Trust Stamp in die UAV-Systeme von Boumarang für Anwendungen in den Bereichen Suche und Rettung, humanitäre Dienste, Überwachung und Lieferung.
Die Zusammenarbeit zielt auf den schnell wachsenden globalen Drohnenmarkt ab, der bis 2031 voraussichtlich 166,7 Milliarden US-Dollar erreichen wird, mit einem CAGR von 25%. Wasserstoffbetriebene Drohnen bieten Vorteile wie längere Flugzeiten und reduzierte Umweltauswirkungen. Trust Stamp erhielt die Lizenzgebühr in Form von im Voraus bezahlten Stammaktienoptionen und erlangte somit eine Beteiligung an Boumarang.
- Licensing deal generates $5 million in income for Trust Stamp in Q3 2024
- Expansion into the growing drone market, expected to reach $166.7 billion by 2031
- Equity participation in Boumarang through pre-paid common stock warrants
- Potential for new market opportunities and licensing deals in government and non-government sectors
- License granted is non-exclusive, potentially limiting future revenue from similar deals
- Income to be booked as 'other-income', subject to independent valuation of securities received
Insights
The $5 million license deal with Boumarang is a significant boost for Trust Stamp's Q3 2024 financials. This one-time income could substantially impact the company's quarterly results, potentially improving profitability and cash flow. However, investors should note that this is non-recurring revenue, which may not contribute to long-term sustainable growth.
The deal structure, involving pre-paid common stock warrants, is intriguing. It provides Trust Stamp with equity participation in Boumarang, potentially offering additional upside if the drone company succeeds. However, the fair market valuation of these securities will be important in determining the actual financial impact.
With the global drone market projected to reach $166.7 billion by 2031, this partnership positions Trust Stamp to capitalize on this rapidly growing sector. Investors should monitor how effectively the company leverages this opportunity for future revenue streams and market expansion.
Trust Stamp's AI technologies, particularly in computer vision and data tokenization, could be game-changers in the drone industry. The integration with Boumarang's hydrogen-powered UAVs addresses key challenges in the sector, such as flight duration and environmental impact.
This tech combination offers unique advantages:
- Enhanced surveillance capabilities with advanced AI
- Improved operational efficiency through longer flight times
- Reduced environmental footprint with hydrogen power
The non-exclusive nature of the license suggests Trust Stamp could pursue similar deals with other drone manufacturers, potentially expanding its market reach. However, the success of this integration will depend on how effectively these technologies perform in real-world applications, particularly in challenging environments like search & rescue operations.
The partnership between Trust Stamp and Boumarang taps into several high-growth markets:
- Drone technology:
25% CAGR expected from 2024 to 2031 - AI in aviation: Projected to reach
$2.2 billion by 2025 - Hydrogen fuel cell market: Estimated
21.4% CAGR from 2023 to 2030
This convergence of technologies positions the partnership to address diverse sectors including logistics, security and agriculture. The focus on humanitarian services and search & rescue operations could open doors to government contracts and NGO partnerships, potentially leading to stable, long-term revenue streams.
However, market adoption may face challenges due to regulatory hurdles in drone operations and the need for hydrogen infrastructure. Investors should monitor how quickly Boumarang can bring these advanced drones to market and secure key contracts to gauge the long-term value of Trust Stamp's equity stake.
ATLANTA, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI), a global provider of AI-powered technologies, announces a strategic implementation with Boumarang Inc. (“Boumarang”), a pioneer in drone technology and hydrogen power solutions. The implementation will see Trust Stamp’s computer vision, data tokenization, and other AI-powered technologies integrated into and used in conjunction with groundbreaking hydrogen-powered UAV systems.
Market Opportunity:
The global drone market was valued at USD 22.4 billion in 2022, and it is expected to grow from USD 28 billion in 2023 to USD 166.7 billion by 2031, with a compound annual growth rate (CAGR) of
The collaboration between Trust Stamp and Boumarang addresses a burgeoning market opportunity as businesses and governments worldwide seek efficient, sustainable, and secure surveillance and delivery solutions. Integrating hydrogen power with advanced AI capabilities promises unprecedented operational efficiency, environmental sustainability, and security advancements.
Hydrogen-powered drones offer significant advantages over legacy battery-powered systems, including longer flight times, faster refueling, and reduced environmental impact, including noise pollution. Combining these benefits with Trust Stamp's cutting-edge AI technology will result in a state-of-the-art solution capable of enabling a wide range of humanitarian services and transforming industries such as logistics, security, agriculture, and more.
Trust Stamp has granted Boumarang a non-exclusive license to use its computer vision and other patented AI technologies in conjunction with its hydrogen-powered drones for a
Colin Guinn, Chief Innovation Officer of Boumarang, commented: "We are excited to partner with Trust Stamp to take our hydrogen-powered drone technology to new heights. This collaboration leverages our expertise in sustainable energy solutions with Trust Stamp's advanced AI capabilities, creating a product that is not only innovative but also environmentally responsible. We believe this partnership will set a new standard in the drone industry, providing businesses and governments with a reliable and efficient tool for a wide range of applications." Boumarang’s leadership team comprises industry experts in military, engineering, and science, collectively bringing decades of experience to drive innovation and excellence.
Gareth N. Genner, Chief Executive Officer of Trust Stamp, stated: "Partnering with Boumarang aligns perfectly with our goal to deliver our cutting-edge AI solutions via partners in different industries. This innovative drone system will offer a powerful tool for humanitarian services, real-time search & rescue and surveillance missions, and secure delivery, fueled by the endurance and sustainability of green hydrogen power. We believe that this partnership will open up new markets and licensing opportunities for us in government and non-government sectors, driving significant growth potential."
About Trust Stamp
Trust Stamp is a global provider of AI-powered technology for use in multiple sectors, including banking and finance, regulatory compliance, government, real estate, transportation, communications, and humanitarian services. With team members from twenty-two countries across North America, Europe, Asia, and Africa, Trust Stamp trades on the Nasdaq Capital Market (Nasdaq: IDAI).
About Boumarang Inc.
Boumarang Inc. is pioneering the future of multi-purpose, AI-driven drones designed to tackle a wide array of commercial, infrastructural, humanitarian, and military challenges. From autonomous last-mile product delivery to emergency response and infrastructure repair, Boumarang's fully customizable drone solutions offer unparalleled performance, patented stability, and superior lifting capacity.
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All statements in this release that are not based on historical fact are “forward-looking statements,” including within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The information in this announcement may contain forward-looking statements and information related to, among other things, the company, its business plan and strategy, and its industry. These statements reflect management’s current views with respect to future events-based information currently available and are subject to risks and uncertainties that could cause the company’s actual results to differ materially from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.
FAQ
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