Ondas Holdings Expands Into North African Market Through a Strategic Partnership with Morocco-Based Maghrebnet

Rhea-AI Summary

Ondas Holdings Inc. (NASDAQ:ONDS) and Maghrebnet sign MOU to offer advanced drone infrastructure in North Africa, manufacture Optimus Drone-In-a-Box systems in Morocco and Senegal, and establish a Joint R&D & Training Center in Morocco. The agreement is part of Ondas' global expansion strategy, following a similar deal with the Kingdom of Saudi Arabia. The drones market in the Middle East and Africa is valued at $3.5 billion in 2023 and estimated to grow at a CAGR of 8.14% to $4.94 billion by 2028, according to Mordor Intelligence.

Positive

• Ondas expanding into the Moroccan and broader North African market is a strategic move that aligns with the government's focus on technological development, particularly in the aeronautics sector.
• The partnership with Maghrebnet presents new business opportunities in a growing market, potentially contributing to Ondas' revenue growth.
• The Optimus drone achieving an Airworthiness Type Certification from the U.S. Federal Aviation Administration (FAA) is a significant milestone, enhancing its credibility and market potential.

Negative

• None.

Ondas and Maghrebnet sign Memorandum of Understanding (MOU) to offer advanced drone infrastructure in North Africa and manufacture Optimus Drone-In a-Box systems in the Kingdom of Morocco and Republic of Senegal, as well as establish a Joint Research and Development (R&D) & Training Center in Morocco

Part of Ondas global expansion strategy and follows a similar agreement with the Kingdom of Saudi Arabia

WALTHAM, MA / ACCESSWIRE / November 9, 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 it has signed a Memorandum of Understanding (MOU) with Maghrebnet, a Moroccan vendor specialized in information technologies, security, networks, telecommunications, electricity, and renewable energies. Through this partnership, Ondas expands into the Moroccan and broader North African market, offering advanced drone infrastructure for cities, industrial, and strategic facilities.

"Morocco is demonstrating strong leadership within Africa with a focus on technological development, particularly in the aeronautics sector," said Eric Brock, Chairman and CEO of Ondas. "This focus is driving strong growth in strategic technology investment across multiple infrastructure industries in Morocco, including aerospace and energy. Under the leadership of King Mohammed VI, the Moroccan government is clearly committed to national economic and industrial development. We believe that together with Maghrebnet, Ondas' Optimus System will provide value as an infrastructure solution for aerial data capture in governmental and commercial applications.

"Maghrebnet has forged a strategic partnership with Ondas, specializing in the production and operation of autonomous Unmanned Aircraft (UA) systems and solutions to expand our portfolio of security-related services," said El-Mekki Benamar, Maghrebnet's Chief Information Officer. "We see many applications for Ondas' Optimus System within government, industrial, and commercial sectors, which can benefit from seamless automated data collection and analysis, alongside a suite of other unmanned aerial services. These operations run around the clock, devoid of human intervention, expertly meeting the demands of the most intricate environments across the globe. Furthermore, both Maghrebnet and Ondas are also exploring the feasibility of producing the docking station component of the UAs in Morocco with a focus on cost-effectiveness."

As part of the MOU, Ondas and Maghrebnet have agreed to jointly explore a multi-faceted business partnership. Maghrebnet will introduce Ondas' systems to potential customers in the region and will handle the manufacturing and sales of Onas' automated Optimus Drone-In a-Box systems in Morocco and Senegal. Based on future growth, the companies will work towards achieving cost-effective manufacturing of docking stations and establishing a joint Research and Development Center in Morocco. This center aims to enhance existing products, develop new features, and explore innovative solutions, actively participate in local bid competitions for projects, and serve as a hub for talent acquisition, development, and management within the local market. The parties will jointly recruit, train, and manage a skilled workforce to support the operations of the center and contribute to the success of various initiatives.

Meir Kliner, President of Ondas Autonomous Systems said, "We look forward to expanding our business to Morocco and North Africa, offering our trusted autonomous drones to local entities. We believe that together with Maghrebnet, we will create new business opportunities in this important growing market."

The drones market in the Middle East and Africa is valued at $3.5 billion in 2023 and estimated to grow at a CAGR of 8.14% to $4.94 billion by 2028, according to Mordor Intelligence.

Ondas' Optimus drone recently achieved an Airworthiness Type Certification from the U.S. Federal Aviation Administration (FAA) and is the first small Unmanned Aircraft System (sUAS) developed for aerial security and data capture to receive a Type Certificate. The Optimus system is already deployed in the United Arab Emirates (UAE). It relies on fleets of automated drones that do not require on-the-ground human intervention to operate. They function as a task force capable of simultaneously collecting and providing critical information for a variety of customer requirements. Each Optimus System, networked as fleet infrastructure, includes a smart airbase enabling automated battery changes for 24/7 operations, along with the automated loading and installation of sensors appropriate for each specified mission. Optimus drones cover up to 30 square miles surrounding an airbase. Drone flights can be tasked to carry specific sensors, enabling each drone within the fleet to execute diverse tasks. Drones can be activated for complex longer-term operations, with flights overseen by remote operators in a command-and-control center.

About Maghrebnet

Established in 1996, Maghrebnet has emerged as a frontrunner in delivering exceptional IT and Energy services. The company boasts a team of proficient and seasoned professionals who collaborate closely with clients to offer tailored solutions that precisely align with their requirements. Maghrebnet places a strong emphasis on delivering top-tier services, underpinned by a commitment to excellence, customer contentment, and innovation. The company harnesses the latest technologies and tools to ensure its clients maintain a competitive edge within their respective industries. The company's dedication to collaboration and effective communication underscores its mission to cultivate enduring partnerships with clients, providing continual support and guidance to help them achieve their objectives. In 2022, Maghrebnet took a strategic step to better cater to its clientele by establishing specialized Business Units aligned with its various sectors of operation, namely: Maghrebnet Energy, Maghrebnet Multimedia, Maghrebnet IT & Security, and Maghrebnet Support. Within its Security division, Maghrebnet addresses the comprehensive security needs of its clients, encompassing both cyber-protection and physical security requirements. Its client roster includes major entities such as airports, banks, correctional facilities, the Defense Ministry, the Interior Ministry, and more. The services offered span video surveillance, perimeter security, access control, and more.

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 Iron Drone 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 a first of its kind FAA Type Certification for the Optimus System and 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 X formerly known as Twitter and LinkedIn. For additional information on Ondas Networks, visit www.ondasnetworks.com or follow Ondas Networks on X and LinkedIn. For additional information on American Robotics, visit www.american-robotics.com or follow American Robotics on X and LinkedIn. For additional information on Airobotics, visit www.airoboticsdrones.com or follow Airobotics on X 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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FAQ

What is the significance of the MOU between Ondas Holdings Inc. (NASDAQ:ONDS) and Maghrebnet?

The MOU aims to offer advanced drone infrastructure in North Africa, manufacture Optimus Drone-In-a-Box systems in Morocco and Senegal, and establish a Joint R&D & Training Center in Morocco. It is part of Ondas' global expansion strategy.

What is the expected growth of the drones market in the Middle East and Africa according to Mordor Intelligence?

The drones market in the Middle East and Africa is valued at $3.5 billion in 2023 and estimated to grow at a CAGR of 8.14% to $4.94 billion by 2028.

What is the significance of the Optimus drone achieving an Airworthiness Type Certification from the U.S. Federal Aviation Administration (FAA)?

The Optimus drone's certification enhances its credibility and market potential, positioning it as a trusted autonomous drone for aerial security and data capture.