Purple Cat Invests in Modular UAS Firm Firestorm
by DRONELIFE Employees Author Ian M. Crosby
Purple Cat Holdings [NASDAQ:RCAT] is likely one of the holdings within the AdvisorShares Drone Expertise ETF [NYSE ARCA:UAV], the one ETF devoted to the drone financial system. For full listing of holdings click on right here. The AdvisorShares Drone Expertise ETF is a thematic funding technique looking for to seize the expansion alternatives in drones and autonomous autos (AV). AdvisorShares is a DRONELIFE sponsor.
Navy expertise firm Purple Cat Holdings has made a serious monetary funding in Firestorm, the developer of the primary absolutely Modular Unmanned Aerial System (MUAS) to be 3D printed and payload agnostic.
Firestorm is establishing a brand new class of fixed-wing UAS with 30-day repetitions, dedication to open-system architectures, and an strategy to manufacturing enabling versatile scaling of manufacturing.
“Firestorm is altering how UAV’s could be designed, manufactured, and delivered shortly, and the Firestorm system solves lots of issues for a lot of crucial conditions. Their long-range and long-duration loitering capabilities are a cheap strategy to profitable within the air,” stated Purple Cat CEO Jeff Thompson. ”We consider that our Teal 2 drone and the Firestorm UAV may very well be an ideal mixture for the warfighter.”
The corporate’s founding group possesses intensive trade experience in additive manufacturing, aerospace, and protection, with a agency grasp on the creation and fast scaling of dual-use expertise corporations.
“We’re honored to have Purple Cat be a part of us on our journey. Purple Cat’s Blue UAS merchandise, their American manufacturing services, and their trade information have made them an ideal associate as we work to scale our enterprise,” stated Firestorm CEO Daniel Magy.
“We wish to assist Firestorm succeed, and this funding could also be only the start. For instance, our giant manufacturing facility in Salt Lake Metropolis might speed up the manufacturing of Firestorm’s merchandise to fulfill elevated demand,” stated Thompson.
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Ian attended Dominican College of California, the place he obtained a BA in English in 2019. With a lifelong ardour for writing and storytelling and a eager curiosity in expertise, he’s now contributing to DroneLife as a employees author.
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, an expert drone providers market, and a fascinated observer of the rising drone trade and the regulatory surroundings for drones. Miriam has penned over 3,000 articles centered on the business drone area and is a global speaker and acknowledged determine within the trade. Miriam has a level from the College of Chicago and over 20 years of expertise in excessive tech gross sales and advertising for brand new applied sciences.
For drone trade consulting or writing, Electronic mail Miriam.
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