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Thu, Jun 06, 2019

Drone Aviation Selected By Prime Contractor For Additional $1.7 Million Award

Brings Total Contract Value With Unnamed Customer To $5.5 Million

Drone Aviation Holding Corp., a manufacturer of tethered drones and lighter-than-air aerostats, 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.

(Source: Drone Aviation Corp. news release. Image from file)

FMI: www.droneaviationcorp.com

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