FlightWave, a Red Cat Company, Secures $1.9 Million TACFI Award for Advanced Enhancements to Edge 130 VTOL
Rhea-AI Summary
FlightWave Aerospace, a Red Cat Holdings (Nasdaq: RCAT) company, has secured a $1.9 million award through the U.S. Air Force's Tactical Funding Increase (TACFI) program. The funding will support critical enhancements to the Edge 130 Vertical Takeoff and Landing (VTOL) system, part of Red Cat's family of unmanned reconnaissance and precision strike systems.
The award aims to bring new capabilities to the Edge 130, meeting evolving U.S. Air Force needs and positioning FlightWave for future larger contracts. Enhancements will focus on advanced autonomy features, longer endurance, increased payload capacities, and improved communication systems. These upgrades are expected to boost the platform's performance in defense applications, including ISR missions and logistics support in complex terrains.
FlightWave plans to demonstrate these enhanced capabilities in collaboration with Air Force units by early 2025.
Positive
- Secured $1.9 million TACFI award for Edge 130 VTOL enhancements
- Potential for future larger contract awards
- Planned improvements in autonomy, endurance, payload capacity, and communication systems
- Integration with Red Cat's Family of Systems for expanded capabilities
- Demonstration of enhanced capabilities scheduled for early 2025
Negative
- None.
News Market Reaction
On the day this news was published, RCAT gained 0.34%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SANTA MONICA, Calif., Sept. 17, 2024 (GLOBE NEWSWIRE) -- FlightWave Aerospace, a leading innovator in unmanned aerial systems (UAS), today announced it has secured a
The TACFI program, part of the U.S. Department of Defense’s broader Small Business Innovation Research (SBIR) initiative, provides resources to expedite the commercialization and deployment of innovative technologies for national security. This award recognizes FlightWave’s continued leadership in developing UAS technologies that meet the unique demands of military and government missions. The goal with this contract is to bring new capabilities for the Edge 130 to meet the evolving needs of the U.S. Air Force and position FlightWave for future larger contract awards.
“This award will enable us to deliver next-generation performance in unmanned systems, providing our Air Force customers with a multi-role, highly autonomous VTOL platform capable of tackling the most demanding operations,” said Trent Lukaczyk, CTO and Co-Founder of FlightWave Aerospace.
"We are honored to receive this TACFI award and eager to accelerate the development of the Edge 130 VTOL with these enhanced capabilities," said Larry Berkin, COO of FlightWave Aerospace.
“The Edge 130 Blue’s long-range inspection, surveillance, and reconnaissance capabilities provide warfighters with a significant tactical advantage on the modern battlefield,” said Jeff Thompson, Red Cat CEO. “The new enhancements developed in collaboration with the Air Force will boost this advantage further. When integrated with the Red Cat Family of Systems, the Edge 130 will become a formidable target and precision strike system for air, land, and sea environments.”
The Edge 130 VTOL is known for its hybrid fixed-wing and rotary design, offering superior endurance, range, and flexibility compared to traditional drone platforms. With the TACFI funding, FlightWave will focus on incorporating advanced autonomy features, longer endurance options, increased payload capacities, and enhanced communication systems—all of which will make the Edge 130 VTOL a more capable asset for defense applications.
These upgrades are expected to bolster the platform's ability to operate in contested environments, perform ISR (Intelligence, Surveillance, and Reconnaissance) missions, and support logistics in complex terrains. The enhancements also align with the Department of Defense’s push toward integrating more resilient and autonomous unmanned systems into its tactical operations.
FlightWave plans to demonstrate these enhanced capabilities in collaboration with Air Force units by early 2025, further strengthening its commitment to supporting national security objectives while continuing to expand into the commercial sector.
For more information about FlightWave and the Edge 130 VTOL, visit www.flightwave.aero.
About Red Cat, Inc.
Red Cat (Nasdaq: RCAT) is a drone technology company integrating robotic hardware and software for military, government, and commercial operations. Through two wholly owned subsidiaries, Teal Drones and Flightwave Aerospace, Red Cat has developed a bleeding-edge Family of ISR and Precision Strike Systems including the Teal 2, a small unmanned system offering the highest-resolution thermal imaging in its class, the Edge 130 Blue Tricopter for extended endurance and range, and FANG™, the industry's first line of NDAA compliant FPV drones optimized for military operations with precision strike capabilities. Learn more at www.redcat.red.
About FlightWave
FlightWave Aerospace Systems Corporation, a Red Cat company, is an industry leading manufacturer of dual-use VTOL drones, sensors and software solutions located in Santa Monica, CA. FlightWave designs and manufactures the Edge 130 VTOL drone and payload cameras for the commercial, defense, security, and intelligence markets. The fully- autonomous Edge 130 sUAS has the best flight endurance in the industry and with AI edge compute capabilities, provides superior aerial data capture to both the commercial and defense markets.
Forward-Looking Statements
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FAQ
What is the value of the TACFI award received by FlightWave for the Edge 130 VTOL enhancements?
What specific enhancements will be made to the Edge 130 VTOL system with the TACFI funding?
When does FlightWave plan to demonstrate the enhanced capabilities of the Edge 130 VTOL to the Air Force?
How does the Edge 130 VTOL enhancement project align with Red Cat Holdings' (RCAT) strategy?
