The company is working to expand its services globally following the successful pilot with IEC which demonstrated efficiency and safety.
FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–UAS Drone Corp. (the “Company”) (OTCQB: USDR), a leader in robotics technology and drone solutions, today announced that it is advancing its commercial activity, following the successful completion of the pilot program for its IC Drone with the Israel Electric Corporation (IEC).
On August 15, 2022, the Company signed an agreement with the IEC to provide drone-enabled systems for the maintenance of electric utility cable insulators. In October 2023, the Company successfully fulfilled its obligations under this agreement, demonstrating the efficiency and safety of its IC Drone in real-world conditions. Now, the Company is working to expand its services globally and plans to offer insulation maintenance and washing services to electrical companies worldwide, either independently or in collaboration with strategic partners.
Yossef Balucka, Chief Executive Officer of the Company, commented: “Our advancement towards commercial activity marks an important milestone for the Company. As shown by the successful completion of the pilot program with the IEC, our innovative solutions not only enhance safety and efficiency but also promote environmental sustainability by reducing water usage. We are excited about the business potential embodied in our technology and believe it will significantly benefit electrical utility companies around the globe.”
The Company’s IC Drone, first announced in August 2022, is a first-of-its-kind robotic, drone-enabled system for cleaning electric utility insulators. The unique system, based on the Company’s advanced intellectual property and know-how, integrates algorithms, autonomous systems, and robotic technologies used in mission-critical applications. Compared to traditional methods like tanker trucks or helicopters, the IC Drone offers increased safety, enhanced ease and efficiency of maintenance, significant reductions in water usage (conserving natural resources), and cost reductions of tens of percent per insulator/electric pole.
About UAS Drone Corp.
UAS Drone Corp. (OTCQB: USDR) is a forward-thinking company focused on bringing advanced stabilization and autonomous solutions to both military and civilian sectors. Through its wholly owned subsidiary, Duke Robotics, the company developed TIKAD, an advanced robotic system designed to meet the growing demand for tech solutions in modern warfare. The TIKAD system enables remote, real-time, and accurate firing of lightweight firearms and weaponry via an unmanned aerial platform (UAV), addressing the critical need to engage hostile targets without risking military personnel.
For more information about UAS Drone Corp. and Duke Robotics, please visit www.dukeroboticsys.com or view documents filed with the Securities and Exchange Commission at www.sec.gov.
Forward-Looking Statements
This press release contains forward-looking statements. Words such as “future” and similar expressions or future or conditional verbs such as “will” are intended to identify such forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on our beliefs, assumptions, and information currently available to us. For example, we are using forward-looking statements when we discuss the expansion of our services globally and our plans to offer insulation maintenance and washing services to electrical companies worldwide, either independently or in collaboration with strategic partners, our advancement towards commercial activity, the business potential embodied in our technology. Our actual results may differ materially from those expressed or implied due to known or unknown risks and uncertainties. Accordingly, our actual results may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist in our operations and business environment including, but not limited to: the successful integration of acquisitions; the continued development of our products; the ability for Elbit to terminate the Agreement, or cease funding certain the development the TIKAD or the marketing, sales and production of the TIKAD, at its discretion; significant fluctuations in foreign currency exchange rates; and competition, including technological advances. For additional information on these and other risks and uncertainties, please see our filings with the Securities and Exchange Commission, including the discussion under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and any subsequent filings with the Securities and Exchange Commission. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts
Investor Contact:
Yossef Balucka, CEO
Email: [email protected]
