DRONE VOLT and its subsidiary, AERIALTRONICS, embedded artificial intelligence expert and professional civil drone manufacturer, announces the signing of a Letter of Intent with the American drone company AQUILINE DRONES, preparing the license fee for the right to sell and manufacture two products – the HERCULES 2 and ALTURA ZENITH along with its PENSAR AI camera – currently under negotiations for a total of no less than 850,000 USD in the first year. The ongoing discussions of the past months between the two companies should be finalized with a contract over the next few weeks.
AQUILINE DRONES is an American drone- and cloud-based solutions for aviation company, based in Hartford, CT. The company offers a wide range of drone services, tailored for the clients’ needs, as well as a commercial drone training facility, a rapidly expanding job market in the USA. It seeks
to boost America’s economy by increasing the drone-related workforce by 1 million.
In 2020, it targeted the rapid development of the HERCULES 2 and ALTURA ZENITH drones by increasing its manufacturing facilities on various sites to reach a total production capacity of 3000 m2.
The agreement signed today was founded on DRONE VOLT’s proven expertise over the last 5 years in drone conception and manufacturing, as well as embedded artificial intelligence cameras. As a result, AQUILINE DRONES wish to invest in its manufacturing facilities of Harford, CT, to
produce the HERCULES 2 as early as September 2020, followed by the ALTURA ZENITH and its PENSAR camera before the end of the year, at an exciting rate of 1000 units per month. The company will increase its production line by 3000 units, monthly, to reach a steady 10,000 units per
Trading-off for its 5-year license rights, reviewed annually, DRONE VOLT will receive 10% of the minimum recommended retail price for each drone sold, for a minimum of 250 000 USD for the ALURA Zenith and 150 000 USD for the HERCULES 2. These sums will be adjusted by 10% annually. Furthermore, an additional upfront of 450 000 USD will be added in the 1st year, to compensate for the transfer of know-how.
Additionally, in order to be transparent, to guarantee the success of this partnership and to strengthen the bonds, a stock swap will occur, accounting for 10% of DRONE VOLT’s shares with 10% of AQUILINE DRONES’ shares.
Olivier GUALDONI, CEO of DRONE VOLT, declares ‘DRONE VOLT has just reached a major milestone in the development of the international market, where the high-stakes are involved. We are proud of our team and their efforts to securing this LoI with AQUILINE DRONES, a promising partner for the American drone market. This agreement, based on sharing of nowledge and knowhow, will prove very profitable for DRONE VOLT, with recurrent earnings over the next 5 years. Best of luck for our new partner, Barry ALEXANDER, Founder and CEO of AQUILINE DRONES. Barry is an excellent manufacturing leader, as well as a true visionary when it comes to the
expansion of drones on the American professional market. These products are revolutionary and are guaranteed to succeed in the future, with their low risks, costs, and emissions.
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