ZenaTech’s ZenaDrone Completes the First Phase of an IQ Nano Inventory Management Trial for Multinational Auto Parts Customer

Rhea-AI Summary

ZenaTech (Nasdaq: ZENA) announced that its subsidiary, ZenaDrone, has completed the first phase of drone testing and 3D mapping for a multinational auto parts manufacturer's inventory management trial. The company's IQ Nano drone will begin production phase flights for automated barcode reading and inventory system integration. The testing was conducted at ZenaDrone's UAE facility, followed by 3D warehouse mapping at the customer's site. The IQ Nano, a 10x10-inch autonomous drone, features 20-minute flight time, obstacle avoidance, and integrated sensors for warehouse operations.

Positive

• Secured paid trial with multinational auto parts manufacturer
• Successfully completed first phase of testing and 3D mapping
• Potential for additional business expansion with current customer
• Product demonstrates automation capability to reduce inventory counting time from weeks to days

Negative

• Trial still in progress with no guaranteed success
• flight time of 20 minutes requires frequent recharging

Insights

Tech Expert

The completion of phase one testing for the IQ Nano drone represents an incremental step in ZenaTech's commercial validation process. The key technical achievements include successful 3D mapping capabilities and autonomous flight testing in warehouse conditions. While the drone's specifications are competitive - 20-minute flight time, 1.5kg weight and 10x10-inch form factor - the real innovation lies in the autonomous inventory management application.

However, this remains a paid trial with a single customer, not a full commercial deployment. The technical features like obstacle avoidance, automated charging and barcode scanning capabilities are promising but standard in modern industrial drones. The true test will be the production phase performance and system integration with the customer's inventory management systems.

TORONTO, Ontario, Oct. 31, 2024 (GLOBE NEWSWIRE) -- ZenaTech, Inc. (Nasdaq: ZENA) ("ZenaTech"), a technology company specializing in AI (Artificial Intelligence) drone solutions and enterprise SaaS (Software-as-a-Service) solutions, today announced that its subsidiary, ZenaDrone, has successfully completed the first phase of drone testing and 3D mapping, and is beginning the next phase of production of a paid trial for a multinational auto parts manufacturer. This production phase consists of flying automatic and fully autonomous flights of the IQ Nano drone in an inventory management application.

Testing took place over several months at ZenaDrone’s production facility in Sharjah, United Arab Emirates (UAE) to ensure the smooth operation of the inventory scanning application. The 3D mapping took place just recently at the customer’s site consisting of scanning and mapping the warehouse area to create a 3D map that automates the drone flight path and its operations while in production.

View video showing the IQ Nano in test flight here.

The production phase is set to begin imminently and will consist of the IQ Nano flying and reading product and component bar codes, collecting information for verification and integration with the customer’s inventory management and accounting systems.

“We look forward to the production phase and concluding a successful trial, proving the viability of the IQ Nano and enabling us to deliver our product to our customer. A successful trial also opens the potential to win additional business with this customer and to verifiably demonstrate IQ Nano’s utility for the benefit of attracting additional market interest. The revolutionary use of an indoor drone for productivity and cost savings value can be implemented across hundreds of warehouse facilities, turning a week-long activity like counting inventory into a day,” said CEO Shaun Passley, Ph.D.

The ZenaDrone IQ Nano is a 10x10-inch drone designed to perform regular and frequent inspections such as bar code or RFID scanning, facility maintenance inspections, security monitoring, 3D indoor mapping and other applications inside a warehouse, distribution, or plant facility. The IQ Nano is designed for autonomous use featuring integrated sensors, high-quality cameras, and data collection and analysis. Weighing 1.5kg and with a flight time of up to 20 minutes before utilizing the automatic battery charging station, it is designed for hovering stability and for safety with obstacle avoidance capabilities.

ZenaDrone IQ Nano Features:

Charging pad: Convenient charging solution without cords or cables, making it easier to maintain multiple drones.

Tethered cable: Offers stable power and data connection for longer flight times or hovering in one place for longer periods, for real-time data transmission during indoor inspections.

Safe for indoor use: Equipped with obstacle avoidance and suitable for confined spaces where traditional drones may pose a risk.

Intelligent Battery: Designed to have a flight time of up to 20 minutes, it features an intelligent flight battery that enhances its time in the air.

Reliable Video: The enhanced video transmission and sensing systems make it highly reliable in gathering visual data in the air.

Retractable landing gear: Enables a compact and streamlined design, improving maneuverability in limited space areas.

Durability: Carbon-fiber shell that can withstand impact without severe damage, and propeller guards protect its rotors to ensure uninterrupted flight.

Portability: Designed to fit in a case for quick deployment from site to site for ease of carrying, and unobtrusive and stackable for storage. 

User-Friendly Controls: Designed so controls work alongside onboard sensing system and video transmission, to provide smooth and intuitive operability even for new pilots.

About ZenaTech

ZenaTech (Nasdaq: ZENA) 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, utilizing the ZenaDrone 1000 drone and the IQ series of indoor/outdoor drone products.

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; 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 the status of ZenaTech's (ZENA) drone trial with the auto parts manufacturer?

ZenaTech has completed the first phase of testing and 3D mapping and is beginning the production phase of the paid trial for automated inventory management.

What are the key features of ZenaTech's (ZENA) IQ Nano drone?

The IQ Nano is a 10x10-inch autonomous drone with 20-minute flight time, obstacle avoidance, integrated sensors, high-quality cameras, and automatic charging capabilities.

Where did ZenaTech (ZENA) conduct the drone testing for the auto parts trial?

The initial testing was conducted at ZenaDrone's production facility in Sharjah, UAE, with subsequent 3D mapping at the customer's warehouse site.

How does ZenaTech's (ZENA) IQ Nano drone improve inventory management?

The IQ Nano automates inventory counting by scanning barcodes and integrating with management systems, potentially reducing week-long inventory counts to a single day.