Red Cat Invests in Modular UAS Company Firestorm
by DRONELIFE Staff Writer Ian M. Crosby
Red Cat Holdings [NASDAQ:RCAT] is one of the holdings in the AdvisorShares Drone Technology ETF [NYSE ARCA:UAV], the only ETF dedicated to the drone economy. For complete list of holdings click here. The AdvisorShares Drone Technology ETF is a thematic investment strategy seeking to capture the growth opportunities in drones and autonomous vehicles (AV). AdvisorShares is a DRONELIFE sponsor.
Military technology company Red Cat Holdings has made a major financial investment in Firestorm, the developer of the first fully Modular Unmanned Aerial System (MUAS) to be 3D printed and payload agnostic.
Firestorm is establishing a new class of fixed-wing UAS with 30-day repetitions, commitment to open-system architectures, and an approach to manufacturing enabling flexible scaling of production.
“Firestorm is changing how UAV’s can be designed, manufactured, and delivered quickly, and the Firestorm system solves a lot of problems for many critical situations. Their long-range and long-duration loitering capabilities are a cost-effective approach to winning in the air,” said Red Cat CEO Jeff Thompson. ”We believe that our Teal 2 drone and the Firestorm UAV could be a great combination for the warfighter.”
The company’s founding team possesses extensive industry expertise in additive manufacturing, aerospace, and defense, with a firm grasp on the creation and rapid scaling of dual-use technology companies.
“We are honored to have Red Cat join us on our journey. Red Cat’s Blue UAS products, their American manufacturing facilities, and their industry knowledge have made them a great partner as we work to scale our business,” said Firestorm CEO Daniel Magy.
“We want to help Firestorm succeed, and this investment may be just the beginning. For example, our large manufacturing facility in Salt Lake City could accelerate the production of Firestorm’s products to meet increased demand,” said Thompson.
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Ian attended Dominican University of California, where he received a BA in English in 2019. With a lifelong passion for writing and storytelling and a keen interest in technology, he is now contributing to DroneLife as a staff writer.
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, a professional drone services marketplace, and a fascinated observer of the emerging drone industry and the regulatory environment for drones. Miriam has penned over 3,000 articles focused on the commercial drone space and is an international speaker and recognized figure in the industry. Miriam has a degree from the University of Chicago and over 20 years of experience in high tech sales and marketing for new technologies.
For drone industry consulting or writing, Email Miriam.
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