Red Cat Holdings CEO to Visit NATO Countries for Talks on Military Drone Support for Ukraine

Rhea-AI Summary

Red Cat Holdings, Inc. (Nasdaq: RCAT) has announced its new Teal 2 drone, equipped with advanced night-vision capabilities, designed primarily to assist Ukrainian forces in nighttime operations against Russian troops. CEO Jeff Thompson's upcoming visit to NATO countries aims to promote military drone support, highlighting the urgent need for effective reconnaissance tools for Ukraine. The Teal 2 integrates cutting-edge thermal imaging technology and other features aimed at enhancing military effectiveness. Moreover, Red Cat has secured an order for 54 units from U.S. Customs and Border Protection, indicating robust demand for this innovative drone.

Positive

• Teal 2 drone features advanced night-vision capabilities, addressing a critical need for Ukrainian forces.
• CEO's engagement with NATO indicates strong commitment to military partnerships and innovation.
• Secured an order for 54 Teal 2 units from U.S. Customs and Border Protection, reflecting product demand.

Negative

• None.

New Teal 2 drone’s world-leading night-vision capability can help Ukraine counter Russian forces when they’re most active – after dark

SAN JUAN, Puerto Rico, Feb. 21, 2023 (GLOBE NEWSWIRE) -- Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or the “Company”), a military technology company integrating robotic hardware and software to protect and support the warfighter, announces that a delegation including CEO Jeff Thompson will visit NATO countries this week to discuss military drone support for Ukrainian forces.

Thompson will meet with NATO leaders to demonstrate the Teal 2, a new military-grade drone from Red Cat subsidiary Teal Drones. Currently available to first-adopter customers and expected to officially launch in Q2 2023, Teal 2 is designed to “Dominate the Night™” and will be the world-leading drone solution for nighttime operations.

As The Wall Street Journal has reported, Ukrainian forces “lack enough drones to spot targets and direct artillery – especially more-expensive models with night-vision cameras that would allow them to work in the dark, when the Russians seek to creep forward.”

“In Ukraine and elsewhere, most military operations take place at night, and the Teal 2 gives warfighters exactly the solution they need,” said Thompson. “Teal 2 is the first drone to integrate the world’s best new night-time drone camera – next-generation thermal-imaging technology from Teledyne FLIR. We’ve also partnered with other industry leaders, such as Tomahawk Robotics, Reveal Technology and Immervision, to offer additional game-changing drone capabilities. These include multi-vehicle control, 3D mapping and object detection.”

Red Cat has already filled an order from U.S. Customs and Border Protection for 54 units of the Teal 2. The drones will provide supplemental airborne reconnaissance, surveillance and tracking capability to enhance situational awareness for U.S. field commanders and agents.

In Ukraine, Red Cat’s previous contributions include filling an order from a NATO member country for 15 units of a different military drone, the Golden Eagle, for deployment to Ukrainian forces.

“Red Cat wants to do all we can to get the Ukrainian warfighter the best and latest American technology that allows them to dominate the night, and that’s why I’m meeting with European military decision makers this week,” Thompson said.

Teal is certified as “Blue UAS,” which designates manufacturers authorized to provide equipment to the U.S. military. Teal is also one of only three drone manufacturers invited to participate in the U.S. Army’s Short Range Reconnaissance Tranche 2 (SRR T2). The SRR T2 program seeks to deliver a portable small uncrewed aerial system (sUAS) that can be used by army platoons for surveillance and reconnaissance duties, as well as to improve situational awareness.

To view a spec sheet for the Teal 2, click here.
To watch a one-minute teaser video for the Teal 2, click here.

About Red Cat Holdings, Inc.
Red Cat (Nasdaq: RCAT) is a military technology company that integrates robotic hardware and software to provide critical situational awareness and actionable intelligence to on-the-ground warfighters and battlefield commanders. Its mission is to enhance the effectiveness and safety of military operations domestically and globally – and to “Dominate the Night.” Red Cat’s suite of solutions includes Teal Drones, developer of the Golden Eagle, a small unmanned system with the highest resolution imaging for nighttime operations, and Skypersonic, a leading provider of unmanned aircraft for interior spaces and other dangerous environments. Learn more at https://www.redcatholdings.com.

Forward Looking Statements
This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will," "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Red Cat Holdings, Inc.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no duty to update such information except as required under applicable law.

Contacts
NEWS MEDIA:
Anthony Priwer
Dalton Agency
Phone: (615) 515-4891
Email: apriwer@daltonagency.com

INVESTORS:
CORE IR
Phone: (516) 222-2560
Email: investors@redcat.red
Website: https://www.redcatholdings.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c5c936bc-2cff-44cd-904a-dc79a462bade

FAQ

What are the key features of the Teal 2 drone from Red Cat Holdings?

The Teal 2 drone offers world-leading night-vision capabilities, advanced thermal imaging technology, and features for multi-vehicle control, 3D mapping, and object detection.

What is the significance of Red Cat's drone support for Ukraine?

Red Cat's drone support is crucial for enhancing Ukrainian forces' reconnaissance capabilities, especially during nighttime operations when Russian forces are most active.

When is the Teal 2 drone expected to officially launch?

The Teal 2 drone is expected to officially launch in Q2 2023.

How does the Teal 2 drone enhance military operations?

The Teal 2 enhances military operations by providing critical situational awareness and actionable intelligence, particularly during nighttime missions.

What recent orders has Red Cat Holdings received for the Teal 2 drone?

Red Cat has received an order for 54 units of the Teal 2 drone from U.S. Customs and Border Protection.