Red Cat Holdings, Inc. a drone technology company integrating robotic hardware and software for military, government, and commercial operations, today announced it has entered into a Letter of Intent (LOI) for the planned acquisition of FlightWave Aerospace Systems Corporation (“FlightWave”), an industry-leading provider of Vertical Take-off and Landing (VTOL) drone, sensor, and software solutions. Edge 130, FlightWave’s Blue UAS approved military-grade tricopter would, upon closing, be added to Red Cat’s line of unmanned Intelligence, Surveillance, and Reconnaissance (ISR) systems.
“The planned acquisition builds on FlightWave’s accomplishments and continues our mission to provide low-cost, rucksack portable drones with diverse capabilities,” said Jeff Thompson, Red Cat CEO. “Our Teal drones already bolster mission effectiveness and safeguard warfighters globally. The Edge 130 complements Teal with extended range and endurance, additional payloads and capabilities for maritime and other environments, and positions us to address the evolving requirements of the Pentagon’s Replicator Initiative.”
Red Cat is redefining the role of Small Unmanned Aircraft Systems (sUAS) for defense applications with unparalleled technology innovation, strategic software and hardware partnerships, and a deep understanding of the operational needs of today’s warfighters. The company is expanding its line of sUAS to support the Pentagon’s desire to accelerate innovation and meet its growing need for “attritable” autonomous systems across air, land, and sea. FlightWave aligns perfectly with the Red Cat Futures Initiative, and the Edge 130 provides a new platform for Red Cat to augment with capabilities through its ecosystem of industry partners.
“Our acquisition by Red Cat will be a significant leap forward in UAV technology integration, setting the foundation for a UAV Family of Systems for easy deployment,” said Dr. Trent Lukaczyk, Co-Founder and CTO of FlightWave. “The Edge 130 is engineered to provide long-range aerial autonomy and is capable of performing long distance Beyond Visual Line of Sight (BVLOS) mapping, inspection, surveillance, and reconnaissance missions with exceptional accuracy. With a flight time exceeding two hours in forward flight mode and a design optimized for quick assembly and deployment, the Edge 130 sets a new standard for Group 1 military-grade VTOLs. We are excited to bring our expertise and innovations to Red Cat and enhance operational capabilities for defense and government agencies.”
“Catapult Ventures has proudly supported FlightWave’s long-range aerial autonomy vision and is thrilled for FlightWave to join forces with Red Cat leveraging the synergies of both companies to drive significant value for stakeholders,” said Darren Liccardo, Co-Founder & Managing Director Catapult Ventures and Lead Investor at FlightWave. “The inclusion of Edge 130 into Red Cat’s portfolio provides substantial opportunities for revenue growth and market expansion. We are confident this strategic acquisition will deliver cutting-edge UAV solutions to meet the evolving demands of defense and commercial markets and propel both companies to new heights.”
