ZenaTech Participates in Taiwan Trade Mission to Open First Asian Office for ZenaDrone AI Drone Sensor and Component Manufacturing
ZenaTech (NASDAQ: ZENA) announces participation in a Taiwan Trade Mission to establish its first Asian office through Spider Vision Sensors subsidiary. The new facility will manufacture drone sensors and components for integration with ZenaDrone AI drones, complementing existing facilities in UAE and planned operations in Phoenix, Arizona. The Taiwan expansion aims to ensure NDAA compliance and achieve approved supplier status for US military sales by sourcing components from US-friendly countries. Spider Vision Sensors will produce various drone components including LiDAR, thermal sensors, cameras, and PCBs, leveraging Taiwan's electronics expertise and cost-effective manufacturing capabilities.
ZenaTech (NASDAQ: ZENA) annuncia la sua partecipazione a una missione commerciale a Taiwan per aprire il suo primo ufficio asiatico attraverso la filiale Spider Vision Sensors. La nuova struttura produrrà sensori e componenti per droni per l'integrazione con i droni ZenaDrone AI, completando le strutture esistenti negli Emirati Arabi Uniti e le operazioni pianificate a Phoenix, Arizona. L'espansione a Taiwan mira a garantire la compliance con l'NDAA e a ottenere lo status di fornitore approvato per le vendite militari statunitensi, reperendo componenti da paesi amici degli Stati Uniti. Spider Vision Sensors produrrà vari componenti per droni, tra cui LiDAR, sensori termici, telecamere e PCB, sfruttando l'expertise elettronica di Taiwan e le sue capacità di produzione a costi contenuti.
ZenaTech (NASDAQ: ZENA) anuncia su participación en una misión comercial a Taiwán para establecer su primera oficina en Asia a través de su filial Spider Vision Sensors. La nueva instalación fabricará sensores y componentes para drones para su integración con los drones ZenaDrone AI, complementando las instalaciones existentes en los EAU y las operaciones planificadas en Phoenix, Arizona. La expansión en Taiwán tiene como objetivo garantizar el cumplimiento con el NDAA y lograr el estatus de proveedor aprobado para las ventas militares estadounidenses al obtener componentes de países amigos de EE. UU. Spider Vision Sensors producirá varios componentes para drones, incluidos LiDAR, sensores térmicos, cámaras y PCB, aprovechando la experiencia electrónica de Taiwán y sus capacidades de fabricación rentables.
ZenaTech (NASDAQ: ZENA)는 Spider Vision Sensors 자회사를 통해 첫 아시아 사무소를 설립하기 위해 대만 무역 사절단에 참여한다고 발표했습니다. 새로운 시설은 ZenaDrone AI 드론과 통합하기 위한 드론 센서 및 구성 요소를 제조하며, UAE에 있는 기존 시설과 애리조나주 피닉스에서 계획된 운영을 보완합니다. 대만 확장은 NDAA 준수를 보장하고 미국 군사 판매에 대한 승인된 공급업체 지위를 달성하기 위해 미국 친화 국가에서 부품을 조달하는 것을 목표로 합니다. Spider Vision Sensors는 대만의 전자기술과 비용 효율적인 제조 능력을 활용하여 LiDAR, 열 센서, 카메라 및 PCB를 포함한 다양한 드론 부품을 생산할 것입니다.
ZenaTech (NASDAQ: ZENA) annonce sa participation à une mission commerciale à Taïwan pour établir son premier bureau asiatique par l'intermédiaire de sa filiale Spider Vision Sensors. La nouvelle installation fabriquera des capteurs et composants de drones pour leur intégration avec les drones ZenaDrone AI, complétant ainsi les installations existantes aux Émirats arabes unis et les opérations prévues à Phoenix, Arizona. L'expansion à Taïwan vise à garantir la conformité à la NDAA et à obtenir le statut de fournisseur approuvé pour les ventes militaires américaines en se procurant des composants de pays amis des États-Unis. Spider Vision Sensors produira divers composants pour drones, y compris LiDAR, capteurs thermiques, caméras et PCB, en tirant parti de l'expertise électronique de Taïwan et de ses capacités de fabrication rentables.
ZenaTech (NASDAQ: ZENA) kündigt die Teilnahme an einer Handelsmission nach Taiwan an, um sein erstes asiatisches Büro über die Tochtergesellschaft Spider Vision Sensors zu etablieren. Die neue Einrichtung wird Drohnen-Sensoren und -Komponenten zur Integration mit ZenaDrone AI-Drohnen herstellen, wodurch bestehende Einrichtungen in den VAE und geplante Aktivitäten in Phoenix, Arizona, ergänzt werden. Die Expansion nach Taiwan zielt darauf ab, die NDAA-Konformität sicherzustellen und den genehmigten Lieferantenstatus für Militärverkäufe in den USA zu erreichen, indem Komponenten aus den USA wohlgesonnenen Ländern bezogen werden. Spider Vision Sensors wird verschiedene Drohnenkomponenten produzieren, darunter LiDAR, Wärmesensoren, Kameras und PCBs, und dabei Taiwans Fachkenntnisse in der Elektronik sowie kostengünstige Fertigungskapazitäten nutzen.
- Strategic expansion into Taiwan's electronics manufacturing hub
- Positioning for US military contracts through NDAA compliance
- Diversification of manufacturing facilities across UAE, US, and Asia
- None.
Insights
Opening a manufacturing facility in Taiwan represents a strategic move to tap into the region's established electronics manufacturing ecosystem. Taiwan's expertise in semiconductor and electronics production, coupled with its advanced infrastructure and skilled workforce, could significantly reduce production costs while maintaining quality standards.
The focus on NDAA compliance through Taiwan-sourced components is particularly noteworthy, as it positions ZenaTech to compete in the lucrative US military drone market. The decision to avoid Chinese components addresses current geopolitical concerns and trade restrictions, potentially opening doors to significant government contracts.
However, the company's market cap of
TORONTO, Ontario, Nov. 07, 2024 (GLOBE NEWSWIRE) -- ZenaTech, Inc. (Nasdaq: ZENA) (FSE: 49Q) ("ZenaTech"), a technology company specializing in AI (Artificial Intelligence) drone solutions and enterprise SaaS (Software-as-a-Service) solutions, announces that company principals are currently participating in a Trade Mission to Taipei, Taiwan as part of an Arizona Commerce Authority (ACA) delegation, with the goal of opening a manufacturing office for its previously announced Spider Vision Sensors Ltd. subsidiary.
This subsidiary will manufacture drone sensors and components to be integrated with ZenaDrone multifunction autonomous AI drones, manufactured at company facilities in Sharjah, UAE, and future facilities in Phoenix, Arizona. ZenaTech’s CEO and CTO are in Taiwan finalizing manufacturing office facilities, meeting with potential partners, and completing registration tasks to establish and open this company in November.
“We are pleased to be expanding company operations to our first Asian location by setting up a drone component manufacturing office in Taiwan. It is critical to ensure our drone sensors and components are cost-effective and come from US-friendly countries so that we can achieve NDAA compliance and approved supplier status to sell to the US military. Spider Vision Sensors will provide a reliable supply of input components for our drones destined for US military customers, which will be manufactured in Arizona,” said CEO Shaun Passley, Ph.D.
Spider Vision Sensors will manufacture drone sensors, electronics, and components such as LiDAR (Light Detection and Ranging), thermal, infrared, multi-spectral, and hyper sensors, cameras, and PCBs (Printed Circuit Boards). Taiwan was selected due to its size and skills as an electronics hub, and the availability of low-cost alternative components versus those from China.
NDAA compliance refers to adhering to the provisions outlined in the National Defense Authorization Act, which is a U.S. federal law that specifies the budget and expenditures for the Department of Defense (DoD). The Blue USA program is a stringent government-approved supplier list of drone companies that wish to do business with the DoD; suppliers must meet strict NDAA cyber security and supply chain sourcing requirements.
The ACA is the State of Arizona’s economic development organization and a longstanding partner of ZenaDrone.
About ZenaTech
ZenaTech (Nasdaq: ZENA) (FSE: 49Q) is a technology company specializing in AI drone solutions and enterprise SaaS solutions for mission-critical business applications. Since 2017, the company has leveraged its software development expertise and grown its drone design and manufacturing capabilities through ZenaDrone, to innovate and improve customer inspection, monitoring, safety, security, compliance, and field service processes. With over 100 enterprise software customers using branded solutions in law enforcement, government, and industrial sectors, and drones being implemented in these plus agriculture, defense, and logistics sectors, ZenaTech helps drive exceptional operational efficiencies and cost savings. The company operates through six offices in North America, Europe, and UAE, and a growing global partner network.
About ZenaDrone
ZenaDrone, a wholly owned subsidiary of ZenaTech, develops and manufactures autonomous business drone solutions that can incorporate machine learning software, AI, predictive modeling, and other software and hardware innovations. Created to revolutionize the hemp farming sector, its specialization has evolved to multifunctional drone solutions for industrial surveillance, monitoring, inspection, tracking, and process automation applications. Currently, the Zenadrone 1000 drone is used for crop management applications in agriculture and critical field cargo applications in the defense sector, and the IQ Nano indoor drone is used for inventory management in the warehouse and logistics sector.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Contacts for more information:
Company, Investors and Media:
Linda Montgomery
ZenaTech
312-241-1415
investors@zenatech.com
Investors:
Michael Mason
CORE IR
investors@zenatech.com
Safe Harbor
This press release and related comments by management of ZenaTech, Inc. include “forward-looking statements” within the meaning of U.S. federal securities laws and applicable Canadian securities laws. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. This forward-looking information relates to future events or future performance of ZenaTech and reflects management’s expectations and projections regarding ZenaTech’s growth, results of operations, performance, and business prospects and opportunities. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management. In some cases, forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “aim”, “seek”, “is/are likely to”, “believe”, “estimate”, “predict”, “potential”, “continue” or the negative of these terms or other comparable terminology intended to identify forward-looking statements. Forward-looking information in this document includes, but is not limited to ZenaTech’s expectations regarding its revenue, expenses, production, operations, costs, cash flows, and future growth; expectations with respect to future production costs and capacity; ZenaTech's ability to deliver products to the market as currently contemplated, including its drone products including ZenaDrone 1000 and IQ Nano; ZenaTech’s anticipated cash needs and it’s needs for additional financing; ZenaTech’s intention to grow the business and its operations and execution risk; expectations with respect to future operations and costs; the volatility of stock prices and market conditions in the industries in which ZenaTech operates; political, economic, environmental, tax, security, and other risks associated with operating in emerging markets; regulatory risks; unfavorable publicity or consumer perception; difficulty in forecasting industry trends; the ability to hire key personnel; the competitive conditions of the industry and the competitive and business strategies of ZenaTech; ZenaTech’s expected business objectives for the next twelve months; ZenaTech’s ability to obtain additional funds through the sale of equity or debt commitments; investment capital and market share; changes in the target markets; market uncertainty; ability to access additional capital, including through the listing of its securities in various jurisdictions; management of growth (plans and timing for expansion); patent infringement; litigation; applicable laws, regulations, and any amendments affecting the business of ZenaTech.
Forward-looking statements are based on certain assumptions and analyses made by the management of ZenaTech in light of its experience and understanding of historical trends and current conditions and other factors management believes are appropriate to consider, which are subject to risks and uncertainties. Although ZenaTech’s management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and actual results may vary materially from the forward-looking information presented. Given these risks and uncertainties underlying the assumptions made, prospective purchasers of ZenaTech’s securities should not place undue reliance on these forward-looking statements.
Further, any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by applicable law, ZenaTech undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for management to predict all such factors and to assess in advance the impact of each such factor on ZenaTech’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. Potential investors should read this document with the understanding that ZenaTech’s actual future results may be materially different from what is currently anticipated.
FAQ
What is ZenaTech's (ZENA) purpose for expanding to Taiwan in November 2024?
What components will ZenaTech (ZENA) manufacture at its new Taiwan facility?
Why did ZenaTech (ZENA) choose Taiwan for its manufacturing expansion?
