Drone Aviation Selected by Prime Contractor for Additional $1.7
Drone Aviation Holding Corp. (OTCQB: DRNE) (“Drone Aviation” or the “Company”), a manufacturer of tethered drones and lighter-than-air aerostats, announced today 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.
About Drone Aviation Holding Corp.
Drone Aviation Holding Corp. (OTCQB: DRNE) develops and manufactures cost-effective, compact and rapidly deployable aerial platforms including lighter-than-air aerostats and drones designed to provide government and commercial customers with enhanced surveillance and communication capabilities. Utilizing a patented tether system, Drone Aviation’s products are designed to provide prolonged operational duration capabilities combined with improved reliability, uniquely fulfilling critical requirements...