ZenaTech, Inc. (Nasdaq: ZENA) ("ZenaTech"), a technology company
specializing in AI (Artificial Intelligence) drone solutions and
enterprise SaaS (Software-as-a-Service) solutions, today announced
that its subsidiary, ZenaDrone, has commenced aerial operations to
launch commercial drone services in the US. This was made possible
due to recently achieving Federal Aviation Authority (FAA)
exemption approval.
ZenaDrone will be setting up Drone-as-a-Service (DaaS)
operations, initially through its Phoenix, Arizona office, making
its drone hardware and software solutions available to customers
for use in land surveying, inspection, monitoring, tracking, and
other applications using the ZenaDrone 1000 product. As part of
these operations, the company will be building up flight hours and
airworthiness accreditation required for full commercial
operations.
The Company is currently completing the FAA application process
to receive an aerial spraying license (14 CFR Part 137) to use
ZenaDrone 1000 for plant nourishment, soil treatment, and pest
control purposes in agriculture settings.
“After over a year and a half of application submission and
approval timelines, and preparation to ensure we can operate in
compliance with FAA requirements, we are excited to be able to
commence operations for commercial services and revenue generation
in the US,” said CEO Dr. Shaun Passley, Ph.D. “We are hopeful this
work will pave the way for similar regulatory approvals in
additional countries where we’ve applied and seek to operate in the
future.”
The company previously announced that ZenaDrone had been granted
an exemption by the FAA for visual line-of-sight commercial
applications and data collection in the US, subject to specified
conditions and limitations. This approval enables live testing,
evaluation, and demonstration of ZenaDrone 1000 with US-based
customers and partners. The company will begin testing for beyond
visual line-of-sight (BVLOS) use at an overseas location in the
next few months.
The ZenaDrone 1000 is an autonomous drone product designed for
stable flight, maneuverability, heavy lift capabilities,
incorporating innovative software technology, AI, sensors, and
purpose-built attachments, along with compact and rugged hardware
engineered for industrial use. It has been used in the agriculture
sector enabling smart farming, plant tracking, and crop management.
ZenaDrone’s products have also been piloted in the field with the
US military for delivery of temperature-controlled critical medical
supplies.
About ZenaTech
ZenaTech (Nasdaq: ZENA) is a technology company specializing in
AI drone solutions and enterprise SaaS solutions for
mission-critical business applications. Since 2017, the company has
leveraged its software development expertise and grown its drone
design and manufacturing capabilities through ZenaDrone, to
innovate and improve customer inspection, monitoring, safety,
security, compliance, and field service processes. With over 100
enterprise software customers using branded solutions in law
enforcement, government, and industrial sectors, and drones being
implemented in these plus agriculture, defense, and logistics
sectors, ZenaTech helps drive exceptional operational efficiencies
and cost savings. The company operates through six offices in North
America, Europe, and UAE, and a growing global partner network.
About ZenaDrone
ZenaDrone, a wholly owned subsidiary of ZenaTech, develops and
manufactures autonomous business drone solutions that can
incorporate machine learning software, AI, predictive modeling, and
other software and hardware innovations. Created to revolutionize
the hemp farming sector, its specialization has evolved to
multifunctional drone solutions for industrial surveillance,
monitoring, inspection, tracking, and process automation, utilizing
the ZenaDrone 1000 drone and the IQ series of indoor drone
products.
This press release does not constitute an offer to sell or
the solicitation of an offer to buy any securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
Contacts for more information:
Company, Investors and Media:Linda
MontgomeryZenaTech312-241-1415investors@zenatech.com
Investors:Michael MasonCORE IRinvestors@zenatech.com
Safe Harbor
This press release and related comments by management of
ZenaTech, Inc. include “forward-looking statements” within the
meaning of U.S. federal securities laws and applicable Canadian
securities laws. These forward-looking statements are subject to
the safe harbor provisions under the Private Securities Litigation
Reform Act of 1995. This forward-looking information relates
to future events or future performance of ZenaTech and reflects
management’s expectations and projections regarding ZenaTech’s
growth, results of operations, performance, and business prospects
and opportunities. Such forward-looking statements reflect
management’s current beliefs and are based on information currently
available to management. In some cases, forward-looking information
can be identified by terminology such as “may”, “will”, “should”,
“expect”, “plan”, “anticipate”, “aim”, “seek”, “is/are likely to”,
“believe”, “estimate”, “predict”, “potential”, “continue” or the
negative of these terms or other comparable terminology intended to
identify forward-looking statements. Forward-looking
information in this document includes, but is not limited to
ZenaTech’s expectations regarding its revenue, expenses,
production, operations, costs, cash flows, and future growth;
•expectations with respect to future production costs and capacity;
the intention to complete the listing of ZenaTech’s common shares
on an exchange; the ability to deliver products to the market as
currently contemplated; ZenaTech’s expectations regarding its
revenue, expenses, and operations; ZenaTech’s anticipated cash
needs and it’s needs for additional financing; ZenaTech’s intention
to grow the business and its operations and execution risk;
expectations with respect to future operations and costs; the
volatility of stock prices and market conditions in the industries
in which ZenaTech operates; political, economic, environmental,
tax, security, and other risks associated with operating in
emerging markets; regulatory risks; unfavorable publicity or
consumer perception; difficulty in forecasting industry trends; the
ability to hire key personnel; the competitive conditions of the
industry and the competitive and business strategies of ZenaTech;
ZenaTech’s expected business objectives for the next twelve months;
ZenaTech’s ability to obtain additional funds through the sale of
equity or debt commitments; investment capital and market share;
changes in the target markets; market uncertainty; ability to
access additional capital; management of growth (plans and timing
for expansion); patent infringement; litigation; applicable laws,
regulations, and any amendments affecting the business of
ZenaTech.
Forward-looking statements are based on certain assumptions and
analyses made by the management of ZenaTech in light of its
experience and understanding of historical trends and current
conditions and other factors management believes are appropriate to
consider, which are subject to risks and uncertainties. Although
ZenaTech’s management believes that the assumptions underlying
these statements are reasonable, they may prove to be incorrect,
and actual results may vary materially from the forward-looking
information presented. Given these risks and uncertainties
underlying the assumptions made, prospective purchasers of
ZenaTech’s securities should not place undue reliance on these
forward-looking statements.
Further, any forward-looking statement speaks only as of the
date on which such statement is made, and, except as required by
applicable law, ZenaTech undertakes no obligation to update any
forward-looking statement to reflect events or circumstances after
the date on which such statement is made or to reflect the
occurrence of unanticipated events. New factors emerge from time to
time, and it is not possible for management to predict all such
factors and to assess in advance the impact of each such factor on
ZenaTech’s business or the extent to which any factor, or
combination of factors, may cause actual results to differ
materially from those contained in any forward-looking statement.
Potential investors should read this document with the
understanding that ZenaTech’s actual future results may be
materially different from what is currently anticipated.
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