DRONE AVIATION HOLDI (OTCMKTS:DRNE) reported that its subsidiary, Drone Aviation Corp. has received an order from defense contractor Troll Systems for WASP aerostat systems. As per the terms, Troll and DAC will jointly create a working group to combine the L-3 Wescam MX-10 optical sensor system into Drone’s WASP system for an international client. The working group intends on starting integration in this month with initial flight assessment expected to follow by 3Q2015.
Drone Aviation subsidiary manufactures and develops the WASP aerostat, WATT Electric Tethered Drone and Blimp in a Box product lines. The WATT Tethered Drone, the BiB as well as WASP aerostats, use a secure, strong tether line that stays linked to the ground for secure and consistent operations. The systems are designed to offer semi-persistent, ISR and extended communications for several applications. The company’s solutions can offer affordable and effective mobile ISR and mobile communications for specified duration. They are currently used by U.S. Department of Defense in their several applications. Also, they are used by the State and Local Police for monitoring purpose.
Department of Defense owned systems are deployed in sponsored exercises and are forms part of future capability trials as part of the evaluation of the WASP system as a tactical aerostat for ISR and mobile communications. As of now, it has successfully completed activities in a series of the U.S. Army NIEs and has been acknowledged by the Army as a strategic battlefield system that can help soldiers on the ground.
Felicia Hess, the CEO of DRONE AVIATION HOLDI (OTCMKTS:DRNE) said that the company is delighted to associate with Troll Systems to extend the capabilities of WASP platform and to assist them fulfill the stringent demands of overseas clients. With the inclusion of the L-3 Wescam MX-10, the company is considerably expanding the operational ability of the WASP system, further reflecting its ability to flexibly offer simple, secure and affordable tactical surveillance and mobile communications to customers.
In early morning trade on Monday, the stock price of DRNE was trading 4% lower at $0.296.