UAV Corp. Secures LOI for Multi-Unit Purchase of DART 600 Airship Systems

Rhea-AI Summary

UAV Corp. (OTC: UMAV) has secured a significant Letter of Intent (LOI) dated February 27, 2025, potentially worth $420 million for multiple DART 600 Series mid-altitude drone airships. The agreement was facilitated through its subsidiary Skyborne Technology, Inc.

The LOI was signed with undisclosed entities following their visit to Skyborne's Gulf County, Florida facilities. Initial deliveries are scheduled for 2026, with production at the Wewahitchka, FL facility. The deal's progression depends on successful test flights of the DART SA70-12 airship.

The DART 600 airships feature:

• Hybrid fuel cell propulsion
• Detachable drone systems
• Advanced tethering technology

The company reports additional contract negotiations potentially exceeding $1.5 billion, positioning itself in a global UAV market valued at $36 billion in 2024, with projected 16.5% CAGR through 2037.

Positive

• Secured $420M Letter of Intent for multiple DART 600 airships
• Additional contract negotiations potentially exceeding $1.5B
• Production and delivery timeline established for 2026
• Operating in UAV market with 16.5% CAGR through 2037

Negative

• LOI is non-binding and contingent on successful test flights
• Purchasing entities remain undisclosed
• Final contract details still under negotiation

WEWAHITCHKA, Fla., March 04, 2025 (GLOBE NEWSWIRE) -- UAV Corp. (OTC: UMAV), a leader in unmanned aerial vehicle (UAV) and airship technology, has secured a Letter of Intent (LOI) dated February 27, 2025, valued up to approximately $420 million for a multi-system purchase of its DART 600 Series mid-altitude drone airships. This landmark agreement, facilitated through UAV Corp.'s subsidiary Skyborne Technology, Inc., represents a major step forward in the company’s expansion and market positioning.

Multi-Unit DART 600 Airship Agreement

The LOI, signed with a consortium of undisclosed entities following a visit to Skyborne Technology’s manufacturing facilities in Gulf County, Florida, outlines the purchase of multiple DART 600 airships. These advanced, long-endurance airships feature hybrid fuel cell propulsion, detachable drone systems, and cutting-edge tethering technology, making them ideal for applications in agriculture, border security, disaster relief, communications, and surveillance.

Initial deliveries are scheduled to begin in 2026, with production ramping up at UAV Corp.’s Wewahitchka, FL facility. Representatives from the purchasing entities, along with key dignitaries, will return to Gulf County to continue negotiations and finalize contract details following successful test flights of the DART SA70-12 airship as a milestone requirement.

"This agreement is a testament to the groundbreaking capabilities of our DART Series airships and our ability to meet the growing global demand for advanced aerial solutions," said Michael Lawson, CEO of UAV Corp. "With additional contract negotiations in progress for deals potentially exceeding $1.5 billion, UAV Corp. is positioned for rapid growth in the expanding UAV market."

Strategic Growth in the UAV Industry

The $420 million LOI strengthens UAV Corp.'s foothold in the rapidly growing UAV sector. The global UAV market, valued at $36 billion in 2024, is projected to grow at a 16.5% compound annual growth rate (CAGR) through 2037, driven by increased demand for aerial surveillance, defense, and commercial applications.

UAV Corp.’s DART Series airships, with their next-generation carbon-fiber structures, automated recovery systems, and extended station-keeping capabilities, are uniquely positioned to address critical demands, including the U.S.'s $25 billion border security initiative and other high-value global applications.

About UAV Corp.

UAV Corp. (OTC: UMAV) specializes in the development of manned and unmanned aerial vehicle technologies, with a focus on high-altitude airships and surveillance solutions for defense, homeland security, and commercial sectors. Headquartered in Gulf County, Florida, UAV Corp. operates through its subsidiary Skyborne Technology, Inc., driving innovation in next-generation aerospace technologies.

Contact:
Michael Lawson, CEO
Email: mlawson@uavcorp.net
Address: 115 County Road 381, Wewahitchka, FL 32465
Phone: 877-425-1066
Website: www.uavcorp.net

Forward-Looking Statements:
This press release contains forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995, including expectations regarding contract completion, production timelines, additional negotiations, and market expansion. These statements involve risks and uncertainties that could cause actual results to differ materially. UAV Corp. undertakes no obligation to update these statements except as required by law.

FAQ

What is the value of UAV Corp's (UMAV) recent Letter of Intent for DART 600 airships?

The Letter of Intent secured by UAV Corp. (UMAV) on February 27, 2025, is valued at approximately $420 million for multiple DART 600 Series airships.

When will UAV Corp (UMAV) begin delivering the DART 600 airships?

Initial deliveries of the DART 600 airships are scheduled to begin in 2026 from UAV Corp's Wewahitchka, FL facility.

What are the key features of UAV Corp's (UMAV) DART 600 airship system?

The DART 600 features hybrid fuel cell propulsion, detachable drone systems, and advanced tethering technology for agriculture, border security, disaster relief, communications, and surveillance applications.

What is the current market size and growth projection for UAV Corp's (UMAV) industry?

The global UAV market is valued at $36 billion in 2024 and is projected to grow at a 16.5% CAGR through 2037.

What conditions must UAV Corp (UMAV) meet to finalize the $420M airship deal?

The deal requires successful test flights of the DART SA70-12 airship as a milestone requirement before finalizing contract details.