AgEagle Aerial Systems News: UAVS Stock Flies 9% on Valqari Drone Delivery Station Deal

AgEagle Aerial Systems (NYSEAMERICAN:UAVS) news for Thursday includes a drone delivery station deal sending UAVS stock flying high.

Image of a drone delivering a package to a home.
Source: Andy Dean Photography / Shutterstock.com

An AgEagle Aerial Systems news release reveals that the company is partnering with Valqari for the creation of drone delivery stations. This will have the company manufacturing the stations as part of a two-year exclusive agreement.

AgEagle Aerial Systems notes that the deal will have it manufacturing the stations at its new facility in Wichita, Kan. The drone delivery stations are being made to meet the standards set in Valqari’s patents.

Valqari’s drone delivery stations stand at seven feet tall and can hold up to six drones. They are designed to handle the last-mile delivery of packages. Each of the stations is set up to protect the drones, packages, and people.

AgEagle Aerial Systems also notes that it has made an equity investment in Valqari. This was made as part of the company’s early-stage funding round.

Michael Drozd, CEO of AgEagle Aerial Systems, said the following about the news.

“The excitement surrounding the use of commercial drones for package delivery is giving rise to an entire new ecosystem being built to support the industry. Effective solutions for ground support, like Valqari’s Drone Delivery Station, will prove to be a vital, fundamental component of this new ecosystem, helping to ensure the promising potential of mainstream drone package delivery is fully realized.”

UAVS stock was up 9.4% as of noon Thursday.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/10/ageagle-aerial-systems-news-sends-uavs-stock-soaring/.

©2021 InvestorPlace Media, LLC