Red Cat Holdings announces that it has received a significant purchase order from Drone Nerds, which is the largest distributor of drones in the United States. The purchase order is for the Golden Eagle, manufactured by Teal Drones. The Company announced a definitive agreement to acquire Teal Drones on July 13, 2021.
“Red Cat is excited to begin its relationship with Drone Nerds with such a significant purchase order,” stated Jeffrey Thompson, Chief Executive Officer. “This transaction is a validation of our strategy to build a broad platform of products, services and solutions to the drone industry. In addition, with a recent down selection by the U.S. Army and an additional Federal contract, it represents a combined revenue of nearly $4M.”
“Over the past two years, Red Cat has emerged as a leader in the drone industry,” stated Jeremy Schneiderman, CEO of Drone Nerds. “We believe that this transaction represents the first of many opportunities for us to work together to leverage and maximize our respective leadership positions.”
Red Cat and the Golden Eagle from Teal Drones will be featured in the Drone Nerds booth at the Association for Unmanned Vehicle Systems International (AUVSI) Convention at the Georgia World Conference Center in Atlanta on August 16-19, 2021. AUVSI is the world’s largest nonprofit organization dedicated to the advancement of unmanned systems and robotics, representing corporations and professionals from more than 60 countries involved in industry, government and academia. AUVSI members work in the defense, civil and commercial markets.
