Media Release | |
Delta Drone International relists on the ASX
Highlights
- Successful merger between
ParaZero and Delta Drone South Africa - Raised
$5 million at$0.04 a share following strong support from domestic and international investors - Funds to be used to establish Australian operations, initially targeting local mining and agricultural industries
- Delta Drone International well placed to take advantage of
US Department of Transportation Federal Aviation Administration (FAA) final rules for Unmanned Aerial Systems (UAS), for Operations Over People (OOP), Remote ID, and Night Operations. Name and ticker code changed to Delta Drone International Limited and DLT earlier this month
Delta Drone International Limited (ASX: DLT,
The re-listing follows a strongly supported capital raise of
The combined entity achieved pro forma combined revenue in CY19 of
Funds from the capital raise will be used to expand into the Australian market, initially targeting drone services for the local mining and agricultural related industries – an addressable market in 2020 of around
Delta Drone International CEO
“Meanwhile, our world-leading drone safety technology will be essential as global urban drone deliveries increase with new
“These final rules will apply to the expanding US drone sector, currently with more than 1.7 million drone registrations and 203,000 FAA-certificated remote pilots (FAA, 2020). They will allow UAS operators to conduct flight operations over people and moving vehicles across four main categories, with varying degrees of flight permissions according to degrees of regulatory compliance. ParaZero’s UAS safety systems are well-positioned to provide an instrumental edge in supporting these new categories, based on ParaZero’s patented autonomous parachute technology, which is specifically designed and tested to meet regulatory compliance for the required kinetic energy thresholds.”
Funds from the capital raise will be also used for sales and marketing support in
-ENDS-
More information:
Media Market Eye P: +61 403 789 096 E: tristan.everett@marketeye.com.au |
About Delta Drone International
Delta Drone International is a multi-national drone-based data service and technology solutions provider for the mining, agricultural and engineering industries. It provides aerial surveying and mapping, security and surveillance, and blast monitoring and fragment analysis through a fully outsourced service with AI and fast data turnaround that allows enterprise customers to focus on operations on the ground while Delta Drone International takes care of everything in the air.
It has in-house enabling proprietary technology, an R&D and integration centre and specialist expertise in designing, developing and providing best-in-class autonomous safety systems for commercial drone deliveries, drone flights for crowd monitoring and in urban areas, as well as ‘beyond visual line of sight’ (BVLOS) missions.
i Australian Drone Market Report 2019-2024 – Drone Industry Insights (droneii.com)
Attachment
- 20201231_relists_on_the_ASX
© OMX, source