ORLANDO, Fla., Jan. 11, 2021 /PRNewswire/ -- Red Cat Holdings, Inc. (OTCQB: RCAT) ("Red Cat" or the "Company"), a leading brand in the drone industry, announced that Fat Shark, a wholly owned subsidiary, had partnered with Skypersonic, the manufacturer of the Skycopter UAV, to complete a long distance drone flight remotely. The flight consisted of a pilot, located in Orlando, Florida, controlling a drone flying in Detroit, Michigan. The flight integrated Fat Shark's new digital technology, "Shark Byte" with Skypersonic's Skycopter and remote pilot software system. The pilot's flight instructions to the drone were transmitted through Skypersonic's servers located in Italy. The companies believe this represents the first commercial completion of a remote flight similar to how drones are used by military forces.
"The ability to control the flight of a drone from thousands of miles away should accelerate the commercial adoption of drone technology, expand the number of business services that can be provided by drones, and lower travel and training costs for companies deploying drones." stated Jeff Thompson, CEO of Red Cat. "The combination of our recently launched Shark Byte digital system and Skypersonic's patent pending software platform provides video resolution that will enable pilots to navigate more safely and execute commercial flights that were not possible with an analog system."
"We are upgrading our entire fleet to the new Shark Byte digital system," stated Giuseppe Santangelo, founder and CEO of Skypersonic. "Global customers like Exelon rely on our drones to safely reach places that are difficult expensive and dangerous to inspect by manned teams. Shark Byte's low-latency high-definition video, a significant advance from prior analog systems, will enable our customers to take their inspections and security applications to a higher level of performance and safety."
"We were excited to work with Skypersonic to test the limits of our new digital technology," said Greg French, founder and chief technology officer of Fat Shark. "The combination of our Shark Byte 720p HD digital system and Skypersonic's latency-compensating flight assistance technology enabled the pilot to fly faster and more skillfully than expected."
The Company's business is to provide products, services and solutions to the drone industry. We design, develop, market, and sell drone products through our 3 wholly owned subsidiaries, Fat Shark, Red Cat Propware and Rotor Riot. Fat Shark makes First Person View (FPV) video goggles for the drone industry and has the largest market share for drone video goggles. Red Cat Propware is developing software that performs flight data analytics, flight data storage, diagnostics and problem prevention. Rotor Riot is a drone media, education and ecommerce store. Rotor Riots premium brand and large influence on the drone industry can support and promote, Fat Shark, Red Cat Propware and future acquisitions and supply a direct retail distribution. For additional information, visit www.redcatholdings.com, www.rotorriot.com, www.fatshark.com
The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company's periodic filings with the Securities and Exchange Commission, including the factors described in the sections entitled "Risk Factors", copies of which may be obtained from the SEC's website at www.sec.gov. The parties do not undertake any obligation to update forward-looking statements contained in this press release.