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Press Releases

Red Cat Holdings Closes Acquisition of Teal Drones 

Expansion into military sector represents compelling growth opportunity

HUMACAO, Puerto Rico, Sept. 1, 2021 /PRNewswire/ — Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or the “Company”), a hardware-enabled software provider to the drone industry, announces the closing of its acquisition of Teal Drones (“Teal”), a leader in commercial and government unmanned aerial vehicle (“UAV”) technology. Teal manufactures the Golden Eagle, one of only five drones approved by the U.S. Department of Defense for reconnaissance, public safety, and inspection applications.

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Red Cat Holdings to Acquire Teal Drones 

Joint group now positioned for enterprise and military scale

HUMACAO, Puerto Rico, July 13, 2021 /PRNewswire/ — Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or the “Company”), a technology provider to the drone industry, announced today that it has signed a definitive agreement to acquire Teal Drones, a leader in commercial and government unmanned aerial vehicle technology. The all-stock transaction will add Teal Drones to Red Cat’s portfolio and strengthen the group’s spectrum of offerings across North America.

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Recent News

Teal’s New Golden Eagle is Set to Redefine the World of High-performance Drones

Pentagon Approves Five Drone Makers for Military Sales

The Us Government Grounded Dji — but Here Are the Five Drones It Just Approved

Press Coverage

Aug 27
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Military.com

After Initial Ban, Pentagon Approves 5 Small Commercial Drones for Troops—The Pentagon has given the green light for military units to purchase small drones from five companies following a monthslong review aimed at ending the military's reliance on emerging tech made in China. Earlier this month, the Defense Department's Defense Innovation Unit (DIU) approved small unmanned aircraft systems (sUAS) made by Altavian, Parrot, Skydio, Teal, and Vantage Robotics for use in the field, according to a release. The drones fall under DIU's "Blue sUAS" program, officials said ... https://www.military.com/daily-news/2020/08/27/after-initial-ban-pentagon-approves-5-small-commercial-drones-troops.html
Aug 24
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Army Technology

US DoD to Leverage AI to Improve Disaster Relief Efforts—The US Department of Defence (DoD) has unveiled plans to utilise artificial intelligence (AI) to improve disaster and humanitarian relief efforts. As part of the move, the DoD is partnering with other agencies to develop AI-based algorithms to provide real-time data to first responders and expedite the decision-making process. Microsoft and the Energy Department are part of this initiative. DoD chief technology officer Michael J Kratsios said that five consortiums were launched to develop the necessary technology that will help in mitigating the impact of natural disasters and save lives ... https://www.army-technology.com/news/us-dod-disaster-relief-efforts/
Aug 21
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Federal News Network

Census Bureau Short on Enumerators Officials Said Were Needed—The Defense Department approved five companies to build drones for military and civilian use. The companies providing small aerial drones include Altavian, Parrot SA, Skydio, Teal and Vantage Robotics. The United States is trying to wean itself off the use of Chinese products. DoD acquisition chief Ellen Lord says China decimated the United States’ drone production by making cheaper products. The approved drones will be available for agencies to buy in September ... https://federalnewsnetwork.com/federal-newscast/2020/08/census-bureau-short-on-enumerators-officials-said-were-needed/

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