Red Cat Holdings Announces Issuance Of U.S. Patent On Drone Positioning System

HUMACAO, Puerto Rico, April 12, 2021 / PRNewswire / – Red Cat Holdings, Inc. (OTCQB: RCAT), a leading brand in the drone industry, reports that the U.S. Patent and Trademark Office released U.S. Patent No. 10,877,162 issued 29, 2020 to Skypersonic Inc. Red Cat previously announced it has signed a definitive agreement to acquire Skypersonic in February 2021 and expects the transaction to close in April.

With Skyloc, a drone can record and transmit inspection data while operating from a distance of thousands of kilometers.

The ‘162 patent, entitled Terrestrial Based Positioning Systems and Methods, is the first U.S. patent to be granted to Skypersonic. The patent covers the terrestrial positioning technology used in Skyloc, Skypersonic’s real-time drone system for environmental monitoring.

Skyloc is a stand-alone real-time software system that enables a drone to record and transmit inspection data while operating from a distance of thousands of kilometers. It has automatic reporting on the absolute linear distance measurement and inspection as well as integrated gas detection via a certified, calibrated multi-gas sensor. The system uses existing hardware on a drone and can be integrated with other UAV (unmanned aerial vehicles) platforms.

Skypersonic technology emulates Global Positioning Systems (GPS) data using ultra wide band signals, allowing drones to operate where no GPS signals are available. This technology is currently used in pipe and tunnel inspections that have succeeded in providing the absolutely linear positioning necessary to produce accurate and complete industry reports without the use of GPS. Skypersonic is currently signing contracts for industrial inspections of many critical infrastructures across Europe and expects a significant increase in use in the coming years.

“This new patent shows the progress and execution of our core business plan as we work to build and protect valuable technology in the drone / UAV market,” said Giuseppe Santagelo, CEO of Skypersonic.

“We are excited to add our market-leading First Person View (FPV) drone headsets to Skyloc so that drones can” fly anywhere “and” inspect the impossible, “” said Allan Evans, president of Fat Shark, a wholly-owned subsidiary of Red cat. “We look forward to welcoming the Skypersonic team to the Red Cat organization and working together to develop additional drone products, services and software solutions.”

About Red Cat Red Cat provides products, services and solutions to the drone industry through its three wholly owned subsidiaries. Fat Shark Holdings is the leading provider of First Person View (FPV) video glasses for the drone industry. Rotor Riot, LLC is a leader in selling FPV drones and equipment, primarily to the consumer market, through its digital storefront at www.rotorriot.com. Rotor Riot enjoys high social media visibility through its Facebook page and the sponsorship of a professional drone racing team that has won numerous championships. Red Cat Propware is developing a Software-as-a-Solution (“SaaS”) platform that enables the analysis and storage of drone flight data as well as diagnostic products and services.

About Skypersonic Skypersonic Inc. is a provider of drone products and software solutions for “Fly Anywhere” and “Inspect the Impossible”. The patented software and hardware solutions enable inspection services in confined spaces where GPS is not permitted or available. Skycopter is a miniature drone that is built into a cage to prevent damage to the areas being inspected and the drone. Skyloc is a stand-alone real-time software system that allows the drone to record and transmit inspection data while operating from a distance of thousands of kilometers. Skypersonic’s intellectual property portfolio includes at least eight US and European patents.

Safe Harbor The information contained in this press release may contain forward-looking statements regarding future events or the future financial performance of the company. Because such statements are subject to risks and uncertainties, actual results could differ materially from those expressed or implied in such forward-looking statements. Words such as “anticipate,” “plan,” “expect,” “intend,” “will,” “potentially,” “hope” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the company’s current expectations and include assumptions that may never materialize or prove to be incorrect. The actual results and timing of events could differ materially from those anticipated in such forward-looking statements due to various risks and uncertainties. For detailed information about factors that could cause actual results to differ materially from those expressed or implied by statements in this company news release, see the company’s regular filings with the Securities and Exchange Commission, including the factors described in the sections titled “Risk Factors”, copies of which are available on the SEC’s website at www.sec.gov. The parties assume no obligation to update the forward-looking statements contained in this press release.

Contact Chad Kapper Phone: (818) 906-4701 Email: [email protected] Website: https://rotorriot.com

Investor Relations ContactBruce HaaseRedChip Companies (407) [email protected]

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SOURCE Red Cat Holdings, Inc.