Ondas Holdings' Airobotics Awarded Approximately $540,000 Grant from the Israel Innovation Authority to Further Advance its AI-Based Counter-Drone System

Rhea-AI Summary

Ondas Holdings Inc. receives a grant worth NIS 2.1 million ($540,000) from the Israel Innovation Authority to support the development of its Iron Drone Raider counter-uncrewed aircraft system. The grant aims to enhance the system's capabilities for intercepting hostile drones in civil environments while minimizing collateral damage caused by GPS jamming and falling objects.

Grant will support the development of additional capabilities, for the Iron Drone Raider, a drone interception system for civil environments, integrating AI and autonomous flight technologies

Serves as further recognition of Airobotics' innovation and significant contribution to the Israeli aerospace industry, which is renowned for its pioneering work in the world's most advanced drone and interception technologies

WALTHAM, MA / ACCESSWIRE / August 30, 2023 / Ondas Holdings Inc. (NASDAQ:ONDS) ("Ondas" or the "Company"), a leading provider of private industrial wireless networks and commercial drone and automated data solutions, announced today that the Israel Innovation Authority (IIA) has awarded a grant worth NIS 2.1 million (approximately $540,000) to support further development of its Iron Drone Raider counter-uncrewed aircraft system (UAS) owned by its wholly-owned subsidiary Airobotics LTD. ("Airobotics").

Earlier this year, Airobotics acquired the assets of Iron Drone, an Israel-based company specializing in the development of autonomous counter-drone systems. The Iron Drone Raider uses AI technologies to identify and intercept hostile drones and can be integrated into a variety of drone detection systems. The Raider physically intercepts small, hostile drones using an incredibly swift autonomous drone equipped with interception mechanisms and combined with a highly automated docking station capable of simultaneously addressing several hostile drone targets. The grant funds a development program that aims to enhance the system's capabilities for intercepting hostile drones in civil environments while minimizing collateral damage caused by GPS jamming and falling objects.

"The Israel Innovation Authority has identified our innovation and product capabilities in an important and rapidly growing market for counter-drone solutions," said Eric Brock, Chairman, and CEO of Ondas. "The aerospace industry of Israel is known for its cutting-edge technology in unmanned aerial systems and interception technologies, and we are pleased to be recognized by this important Israeli governmental agency."

"Meir Kleiner, CEO of Airobotics, stated, "There has been a notable uptick in the utilization of drones and other small, unmanned vehicles by military, terrorist, and criminal entities for the purpose of attacking and disrupting critical facilities, such as airports, oil and gas installations, as well as public gatherings and urban centers. With this grant, we will accelerate the development of additional, high value features of the Iron Drone Raider system."

About Israel Innovation Authority

The Israel Innovation Authority, an independent publicly funded agency, was created to provide a variety of practical tools and funding platforms aimed at effectively addressing the dynamic and changing needs of the local and international innovation ecosystems.

About Ondas Holdings Inc

Ondas Holdings Inc. ("Ondas") is a leading provider of private wireless data solutions via Ondas Networks Inc. ("Ondas Networks") and commercial drone solutions through American Robotics, Inc. ("American Robotics" or "AR") and Airobotics LTD ("Airobotics"), which we operate as a separate business unit called Ondas Autonomous Systems.

Ondas Networks is a developer of proprietary, software-based wireless broadband technology for large established and emerging commercial and government markets. Ondas Networks' standards-based (802.16s), multi-patented, software-defined radio FullMAX platform enables Mission-Critical IoT (MC-IoT) applications by overcoming the bandwidth limitations of today's legacy private licensed wireless networks. Ondas Networks' customer end markets include railroads, utilities, oil and gas, transportation, aviation (including drone operators) and government entities whose demands span a wide range of mission critical applications.

Our Ondas Autonomous Systems business unit designs, develops, and markets commercial drone solutions via the Optimus System and the Raider (the "Autonomous Drone Platforms"). The Autonomous Drone Platforms are highly automated, AI-powered drone systems capable of continuous, remote operation and are marketed as "drone-in-a-box" turnkey data solution services. They are deployed for critical industrial and government applications where data and information collection and processing are required. The Autonomous Drone Platforms are typically provided to customers under a Robot-as-a-Service (RAAS) business model. American Robotics and Airobotics have industry leading regulatory successes which include having the first drone system approved by the FAA for automated operation beyond-visual-line-of-sight (BVLOS) without a human operator on-site.

Ondas Networks, American Robotics and Airobotics together provide users in oil & gas, rail, mining, agriculture, public safety and other critical infrastructure and government markets with improved connectivity and data collection and information processing capabilities.

For additional information on Ondas Holdings, visit www.ondas.com or follow Ondas Holdings on Twitter and LinkedIn. For additional information on Ondas Networks, visit www.ondasnetworks.com or follow Ondas Networks on Twitter and LinkedIn. For additional information on American Robotics, visit www.american-robotics.com or follow American Robotics on Twitter and LinkedIn. For additional information on Airobotics, visit www.airoboticsdrones.com or follow Airobotics on Twitter and LinkedIn.

Information on our websites and social media platforms is not incorporated by reference in this release or in any of our filings with the U.S. Securities and Exchange Commission.

Forward-Looking Statements

Statements made in this release that are not statements of historical or current facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance, or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including the risks discussed under the heading "Risk Factors" discussed under the caption "Item 1A. Risk Factors" in Part I of our most recent Annual Report on Form 10-K or any updates discussed under the caption "Item 1A. Risk Factors" in Part II of our Quarterly Reports on Form 10-Q and in our other filings with the SEC. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date, except as required by law.

Contacts

IR Contact for Ondas Holdings Inc.
888.350.9994 x1019
ir@ondas.com

Media Contact for Ondas
Preston Grimes
Marketing Manager, Ondas Holdings Inc.
preston.grimes@ondas.com

SOURCE: Ondas Holdings Inc.

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