Drone Aviation Holding Corp., a manufacturer of tethered drones and lighter-than-air aerostats, has announced that it has been selected by a prime contractor for an additional award valued at approximately $1.7 million. This award is a follow-on to the $3.8 million contract awarded to Drone Aviation by this same prime contractor in January 2019, bringing the total award value to approximately $5.5 million.
“We are honored to have been chosen for this follow-on award by our prime contractor,” said Jay Nussbaum, Chairman and CEO of Drone Aviation. “This award is another important milestone for Drone Aviation, one that creates a valuable new stream of revenue and cashflow for the Company as we continue to execute on our strategic plan.”
Due to customer-related confidentiality considerations, no additional information will be provided related to this award at this time.
Drone Aviation’s tethered aerostat systems are based around a proprietary “smart leash” technology that provides persistent and reliable control, power and communications, bridging the gap between large, complex aerostats and small short-endurance drones.
Their tethered aerial platforms currently serve key tier-one customers including the United States Department of Defense and Department of Homeland Security. They provide multi-mission capabilities, extending the range of communications, ISR (Intelligence, Surveillance & Reconnaissance) and SIGINT (Signals Intelligence) and providing persistent silent protection, day or night.