Red Cat Subsidiary Selected to Participate in DoD Program
Mar 15, 2022 By MarketDepth
Red Cat Holdings, Inc. (Nasdaq: RCAT) recently announced that its subsidiary, Teal Drones, has been selected by the Department of Defense’s (DoD) Defense Innovation Unit (DIU) and U.S. Army to compete in the Short Range Reconnaissance Tranche 2 (SRR T2) Program of Record.
Develop Unmanned Surveillance Systems
The subsidiary, Teal, was selected to develop a next-generation small unmanned aerial system (sUAS) designed for surveillance and reconnaissance (S&R) duties.
“The rigorous technical requirements and program objectives of SRR T2 dramatically narrowed the field from over three dozen drone manufacturers to just a handful that were selected by the Army to move forward with the program. We believe this puts us among the most elite drone manufacturers in the world and, consequently, is a significant recognition of our capabilities,”George Matus, founder and Chief Executive Officer of Teal
Teal was notified by the U.S. Army’s Short Range Reconnaissance Product Office that it would advance to the prototype phase of the SRR T2 program and was awarded a $1.5M prototype contract last year. Now, the company’s ultimate goal of the SRR T2 program is to provide a small, portable sUAS that gives all Army platoons increased situational awareness.
“The $1.5 million prototype contract we were awarded for SRR T2 reinforces the sophistication and technical expertise of our entire Teal Team. We look forward to developing the Army’s next-generation sUAS to improve the safety and lethality of our warfighters,”George Matus, Founder and Chief Executive Officer of Teal