Red Cat Holdings Inc. (RCAT) Invests in Firestorm Modular Unmanned Aerial Systems Company
Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or the “Company”), a military technology company integrating robotic hardware and software to protect and support the warfighter, has made a materially significant financial investment in Firestorm, an American company developing the first completely Modular Unmanned Aerial System (MUAS) that is 3D printed and payload agnostic.
Firestorm is building a new category of fixed-wing UAS with 30-day product iterations, a commitment to open-system architectures, and an additive manufacturing approach that allows them to scale production in an elastic manner.
“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. We believe that our Teal 2 drone and the Firestorm UAV could be a great combination for the warfighter,” said Red Cat CEO Jeff Thompson.
Firestorm’s founding team has deep industry expertise in additive manufacturing, aerospace, and defense and understands how to build and quickly scale 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,” Thompson added.
