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Press Releases
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.
Recent News
Press Coverage
KSL News | 05/31/19
21-year-old Utah Drone CEO Could Win $100M Army Contract—George Matus seems fairly calm and nonchalant for a 21-year-old who is in the running to win a $100 million contract from the United States Army. The Utahn is founder and CEO of Teal, a Murray-based drone company that Matus began when he was just 16. Now, Teal is one of six drone companies competing for a nine-figure contract to create reconnaissance drones for soldiers in the field. It was just a few years ago that the Army banned the use of Chinese drones because of “cyber vulnerability” concerns. Chinese drones dominate the industry, however, so it put the Army in a bit of a tight spot ...
https://www.ksl.com/article/46564047/21-year-old-utah-drone-ceo-could-win-100m-army-contract Deseret News | 05/25/19
'Prodigy' Founder Taking Utah's Teal Drones to Unexplored Heights—Smaller. Faster. Smarter. Common goals in the world of tech startups, but Teal Drones founder and CEO George Matus — having nailed these three attributes very early on with drones he and his team developed — is on a quest for something more elusive and, perhaps, more consequential. "Once consumer drones started becoming widely used and really popular, I started realizing that all they are is just a flying camera that can take photos and videos," Matus said. "And, I've always had these grand visions of what drones could do … and the role for good that they could have in society." Building drones that can fulfill a greater and more impactful mission is a goal now very much in sight for Matus ...
https://www.deseret.com/2019/5/25/20674230/prodigy-founder-taking-utah-s-teal-drones-to-unexplored-heights#george-matus-who-launched-teal-drones-as-a-teenager-in-2014-pilots-one-of-his-drones-outside-the-companys-offices-in-murray-on-monday-may-13-2019-the-company-is-set-to-unveil-a-just-inked-deal-with-the-u-s-army-to-develop-a-short-range-reconnaissance-drone-that-service-members-can-carry-in-a-backpack-and-deploy-as-needed-in-the-battlefield DroneLife | 10/10/18
The Realization of a Dream: Introducing the Teal One, Now for Sale—Everyone loves a long shot success story – and this one is better than most. In July of 2016, DRONELIFE wrote about the 18-year-old Utah kid who decided to skip college and pursue his dream of building the ultimate drone. Today, 20-year-old George Matus launches the Teal One: one of the fastest ready-to-fly drones on the market. George Matus was awarded a $100,000 Thiel fellowship when he graduated from high school. A Thiel fellowship – which has a lower than 1% win rate – offers grant money, guidance and resources to entrepreneurs under the age of 23 to skip college and pursue innovation instead ...
https://dronelife.com/2018/10/10/the-realization-of-dream-introducing-the-teal-one-now-for-sale/ DroneDJ | 10/10/18
Teal Launches Their Flagship Drone the Teal One—Today, Teal launches their flagship drone the Teal One. This ready-to-fly done has a top speed of 60mph and features a modular design, making it easy to replace parts if you happen to crash the drone. The done is controlled right from your smartphone with an app called Teal Flight, that also offers five different flight modes, including one-handed and voice control. The drone has been developed by 20-year-old Utah-based founder, George Matus. It is designed and built right here in the US. The Teal One has a top speed of 60mph and can withstand wind speeds of up to 40mph. The drone features a 15 minute flight time, which is less than what most people are used to from their DJI drones, but for some that might be offset by its higher top speed and improved wind resistance ...
https://dronedj.com/2018/10/10/teal-one-drone/ Entrepreneur | 09/14/17
The iPhone of Drones Is Being Built by This Teenager—His drone, he believes, will be revolutionary. It will come equipped with artificial intelligence so it can recognize faces and objects and pick them out in a crowd; it will help police departments find lost children, ranchers monitor their herds, cities inspect buildings. If all goes according to plan, it will do for drones what the iPhone did for phones. It will make them useful, helpful. It will change the way we live. And it will be very, very fast ...
https://www.entrepreneur.com/article/298141 Learn more about what’s possible with Golden Eagle.
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