RCAT - Red Cat Announces $2.5 Million in Contract Awards for Two NATO Allied Countries | Benzinga
SAN JUAN, Puerto Rico, March 26, 2024 (GLOBE NEWSWIRE) -- Red Cat Holdings, Inc.?(NASDAQ:RCAT) ("Red Cat" or the "Company"), a drone technology company integrating robotic hardware and software for military, government and commercial operations, announces a total of $2.5 million in new contract awards with two NATO allied countries. As part of its expanded global sales strategy, Red Cat will provide the new customers with Teal 2 drone systems, training, and accessories with an anticipated delivery by the end of March.
"Our American-made, rucksack-portable drones are providing warfighters with rapidly deployed reconnaissance and situational awareness to enhance the effectiveness and safety of their operations," said Jeff Thompson, Founder and CEO of Red Cat. "It's an important part of Red Cat's mission to support our NATO allies and we look forward to equipping these new customers and many other countries with our advanced Teal 2 systems."
Red Cat subsidiary Teal Drones manufactures the Company's flagship Teal 2 platform, which is cost-effective, man-portable, and optimized for night-time use. It is designed to support U.S. and allied military operations, public safety organizations, ...