Ondas Completes Strategic Acquisition of American Robotics
NANTUCKET & MARLBOROUGH, Massachusetts- (BUSINESS WIRE) –Ondas Holdings Inc. (“Ondas”) (NASDAQ: ONDS), developer of its own software-based wireless broadband technology, announced today that it has completed the acquisition of American robotics, Inc. (American Robotics), a leading developer of highly automated commercial systems for drones, and the first company approved by the FAA to operate its drones outside the line of sight (“BVLOS”) without a human site operator. The combination of the two companies will enable Ondas Networks and American Robotics to provide users in the rail, agricultural, utilities and critical infrastructure markets with improved connectivity and data collection capabilities. Ondas received huge support from its shareholders with approximately 99.7% of the votes in favor of the acquisition.
American Robotics combines best-in-class IP, a robot model as a service, and its historic FAA approvals to provide a $ 100 billion commercial drone service capable of unlocking the commercial drone market. Unlike other drone technologies, American Robotics’ Scout System provides an unparalleled level of autonomy, safety and analytics with its industrial design and advanced AI-powered software. Scout System ™ is the best solution for data collection and processing at the edge of industrial field networks, which can be integrated into a critical wireless network powered by Ondas’ FullMAX technology. American Robotics’ highly automated drones can perform up to 20 automated flights a day without a single pilot or visual observer on the ground.
In April 2021, Ondas provided a $ 2 million loan to American Robotics to begin expanding its customer support and sales organization, using the latest first-ever FAA approval for automated drones. These efforts have already begun to show success. On July 8, 2021, Stockpile Reports, a bulk data provider in the bulk materials industry serving more than 300 companies in 48 countries, chose Scout System ди to build its automated drone program. The bulk materials industry is a large industrial market with more than 10,000 sand and gravel mines and more than 3,000 ready mixes and asphalt plants in the United States alone. Then, on July 14, 2021, American Robotics announced that it had received a purchase order from a Fortune 100 oil and gas company for the Scout system, which allowed American Robotics to expand into its next major industrial market. The oil and gas industry is a new large market for American robotics, with more than 90,000 oil and gas wells currently in the United States and more than 500,000 miles of pipelines that require constant monitoring and inspection.
“We are thrilled that the American Robotics team has joined us in supporting the next phase of Ondas growth,” said Eric Brock, President and CEO of Ondas. “The acquisition is especially timely in anticipation of legislation being discussed by Congress to significantly improve national infrastructure. American Robotics, with best-in-class industrial drone platform and first-of-its-kind FAA approval, is able to open up a thriving market for industrial drones. We have already begun investing to help build and scale the American robotics and customer support team and on-site capabilities. Ondas has deep experience in industrial technology and capital for growth to help accelerate the adoption of the Scout System ™. We intend to build a powerful, market-leading industrial drone business, providing highly valued critical data solutions to our industrial customers and ecosystem partners. ”
“Our focus on taking robotics out of the lab and into real-world applications is at the heart of everything we do at America Robotics,” said Reese Moser, CEO and co-founder of American Robotics. “Together with Ondas, we will further accelerate the adoption of drones for commercial and industrial applications by connecting with Ondas customers and ecosystem partners in critical infrastructure markets. The entire American Robotics team is excited to continue to work hard to advance the commercial drone market and bring real benefits to consumers in need of improved data collection.
Mr Brock concluded: “In the six months since receiving FAA approvals, American Robotics has increased business development in key industrial sectors by 80%. Ondas will support this continuous growth through the continuous advancement and development of American Robotics technology. Also, this acquisition will enable American Robotics to gain access to Ondas’ industrial customers and global distribution partners. ”
LLP Akerman serves as Ondas ‘legal counsel and Hogan Lovells as American Robotics’ legal counsel.
About Ondas Holdings Inc.
Ondas Holdings Inc., through its wholly-owned subsidiary, Ondas Networks Inc., is the developer of its own software-based wireless broadband technology for large established and emerging industrial markets. The company’s multi-patented, software-defined FullMAX radio station enables MC-IoT applications by overcoming the bandwidth limitations of today’s legacy private licensed wireless networks. Ondas Networks’ end customers include railways, utilities, oil and gas, transportation, aviation (including drone operators) and government agencies, whose requirements cover a wide range of critical applications. These markets require reliable, secure broadband communication in large and diverse geographical areas, many of which are in challenging radio frequency environments. Customers use the company’s FullMAX technology to deploy their own privately licensed broadband wireless networks. The company also offers critical entities the ability to manage a network service. Ondas Networks’ FullMAX technology supports IEEE 802.16s, the new global standard for privately licensed industrial networks in a wide range. For more information, visit www.ondas.com or follow Ondas Networks on Twitter and LinkedIn. The information on our website and social media platforms is not included by reference in this publication or in any of our documents in the US Securities and Exchange Commission.
For American Robotics, Inc.
American robotics (AR), a wholly owned subsidiary of Ondas, is a company focused on the design, development and offering of industrial solutions for unmanned aerial vehicles for healthy, real environments. AR’s Scout System is a highly automated AI-powered drone system capable of continuous, remote operation and is sold as a turnkey in-box data transmission service within a robot as a service (RAAS) business model. Scout System ™ is the first unmanned aerial vehicle system approved by the FAA for automated off-line vision (BVLOS) without a human operator on site. AR was founded by leading robots from Carnegie Mellon and Stanford with a shared vision of bringing robotic technology from the laboratory to the real world to solve global challenges.