Fort Lauderdale, Florida, June 01, 2022 (GLOBE NEWSWIRE) -- UAS Drone Corp. (OTCQB: USDR), a leader in robotics technology and drone solutions, today announced it has signed a lease for a new facility at the recently built Mevo Carmel Science and Industry Park complex near Yokneam, Israel, which has a large adjacent area for drone flying, takeoffs and landings.
"As we continue to evaluate additional applications for our technology, including for its use in the civil market, combined with increasing demand for remote operated drone weapon systems in a time of military tension and conflicts, we are taking steps to meet these growing market needs,” said Yossef Balucka CEO of UAS Drone Corp. “The transition to our new facility in the summer of 2022 will allow for increased operational flexibility and efficiency, and also benefits from proximity to Elbit Systems Land Ltd. with which we have a global development and commercialization agreement.”
UAS Drone’s wholly-owned Israeli subsidiary, Duke Airborne Systems Ltd. and Elbit Systems Land Ltd., signed a Collaboration Agreement in 2021 for global marketing and sales, and production and further development of Duke’s Sniper Drone product. UAS Drone believes this collaboration represents a significant opportunity to expand its global business and product sales.
About UAS Drone
In June 2020, UAS Drone Corp. (“USDR”) (OTCQB: USDR) completed the acquisition of Duke Robotics Inc. Duke Robotics is a forward-thinking company focused on bringing necessary products and solutions to the defense sector. Duke Robotics developed TIKAD, an advanced robotic system designed to serve the growing need for tech solutions in the combat field.
Duke Robotics' revolutionary stabilization technology enables remote, real-time and accurate firing of lightweight firearms and weaponry via an unmanned aerial platform (UAV). The proprietary and confidential complex kinematic algorithms address the crucial need of modern warfare to bear arms remotely on hostile targets without risk to the military personnel. We believe that troops can use TIKAD to handle potentially dangerous situations quickly and efficiently from the air. This technology also allows troops to potentially disarm a situation remotely, without ever deploying a ground presence. For more information about Duke Robotics, please visit www.dukeroboticsys.com or view documents that USDR files with the Securities and Exchange Commission at http://www.sec.gov.
Forward-Looking Statements
This press release contains forward-looking statements. Words such as "future" and other similar expressions or future or conditional verbs such as "will" are intended to identify such forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on our beliefs as well as assumptions made by and information currently available to us. For example, when we discuss the potential benefits of Duke Robotics’ new facility and the potential for the TIKAD system in the military or civilian market, , we are using forward-looking statements. Accordingly, our actual results may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist in our operations and business environment including, but not limited to: the successful integration of acquisitions; the continued development of our products; the ability for Elbit to terminate the Agreement, or cease funding certain the development the TIKAD or the marketing, sales and production of the TIKAD, at its discretion; significant fluctuations in foreign currency exchange rates; and competition, including technological advances. For additional information on these and other risks and uncertainties, please see our filings with the Securities and Exchange Commission, including the discussion under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and any subsequent filings with the Securities and Exchange Commission. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contact:
Contact name: Yossef Balucka, CEO
Email address:
invest@dukeroboticsys.com
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UAS Drone’s Subsidiary, Duke Robotics, to Move its Operations to a Science & Industry Park with Adjacent Drone Testing Zone
