{"id":3612,"date":"2023-11-08T21:18:28","date_gmt":"2023-11-08T21:18:28","guid":{"rendered":"https:\/\/redcat.red\/?post_type=press_releases&p=3612"},"modified":"2023-12-06T21:23:02","modified_gmt":"2023-12-06T21:23:02","slug":"red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah","status":"publish","type":"press_releases","link":"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/","title":{"rendered":"Red Cat Subsidiary Teal Drones Selected for $750K Manufacturing Modernization Grant from State of Utah"},"content":{"rendered":"\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
<\/div>\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

Press Release<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

Red Cat Subsidiary Teal Drones Selected for $750K Manufacturing Modernization Grant from State of Utah<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\n\t\t\t\t\t\t\t
<\/div>\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

SAN JUAN, Puerto Rico, Nov. 08, 2023 (GLOBE NEWSWIRE) —\u00a0Red Cat Holdings, Inc.<\/a>\u202f(Nasdaq: RCAT) (\u201cRed Cat\u201d or the \u201cCompany\u201d), a drone technology company integrating robotic hardware and software for military, government and commercial operations, today announces\u202fthat its subsidiary Teal Drones has been selected to receive a $750,000 Manufacturing Modernization Grant from the State of Utah.<\/p>

Teal is among the recipients of the $10 million Utah Manufacturing Modernization Grant, awarded by the Governor\u2019s Office of Economic Opportunity as an incentive for Utah businesses to modernize, establish, relocate, retain or develop manufacturing in the state. Its goal is to modernize manufacturing, increase supply chain resilience and decrease American dependence on foreign manufacturing in Utah.<\/p>

This grant will help expand Teal\u2019s manufacturing capability and ensure that both existing and future vertically integrated products will be manufactured in Teal\u2019s South Salt Lake facility.<\/p>

The company\u2019s flagship Teal 2, introduced in April 2023, is designed to \u201cDominate the Night\u2122<\/a>\u201d with its best-in-class night vision camera, fully modular design, multi-vehicle control and\u00a0artificial intelligence<\/a>\u00a0capabilities. The Teal 2 features the latest intelligence,\u202fsurveillance\u202fand reconnaissance technology, delivering time-critical information and enabling operators to make faster, smarter decisions. Outside of defense, Teal 2 is also being used for public safety, land and fire management, and infrastructure inspection use cases.<\/p>

\u201cWe\u2019re grateful to the State of Utah and the Governor\u2019s Office of Economic Opportunity for selecting Teal as a recipient of this grant,\u201d said George Matus, Teal founder and CEO. \u201cThis is a big step toward rebuilding America\u2019s drone industrial base and expanding manufacturing on domestic soil. Drones are critical to the future of Defense and Teal is positioned to fulfill the exponentially growing demand from America and its allies.\u201d<\/p>

About Red Cat Holdings, Inc.\u202f<\/strong>\u202f\u00a0
Red Cat (Nasdaq: RCAT) is a drone technology company integrating robotic hardware and software for military, government and commercial operations. Red Cat\u2019s solutions are designed to \u201cDominate the Night\u2122<\/a>\u201d and include the Teal 2, a small unmanned system offering the highest-resolution thermal imaging in its class. Learn more at\u00a0www.redcatholdings.com<\/a>.\u00a0<\/p>

Forward-Looking Statements<\/strong>\u202f\u00a0
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Red Cat Holdings, Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no duty to update such information except as required under applicable law.\u202f\u00a0<\/p>

Contacts<\/strong>\u00a0

NEWS MEDIA:\u00a0
CORE Public Relations
Phone: (516) 222-2560\u00a0
Email:\u00a0media@redcat.red<\/p>

INVESTORS:\u00a0
CORE IR\u00a0
Phone: (516) 222-2560\u00a0
Email:\u00a0investors@redcat.red<\/a>
Website:\u00a0https:\/\/www.redcatholdings.com<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

\n\t\t\t
\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"featured_media":3614,"template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"_links_to":"","_links_to_target":""},"class_list":["post-3612","press_releases","type-press_releases","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\nRed Cat Subsidiary Teal Drones Selected for $750K Manufacturing Modernization Grant from State of Utah - Red Cat<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Red Cat Subsidiary Teal Drones Selected for $750K Manufacturing Modernization Grant from State of Utah - Red Cat\" \/>\n<meta property=\"og:description\" content=\"Press Release Red Cat Subsidiary Teal Drones Selected for $750K Manufacturing Modernization Grant from State of Utah SAN JUAN, Puerto Rico, Nov. 08, 2023 (GLOBE NEWSWIRE) —\u00a0Red Cat Holdings, Inc.\u202f(Nasdaq: […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/\" \/>\n<meta property=\"og:site_name\" content=\"Red Cat\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-06T21:23:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/redcat.red\/wp-content\/uploads\/2023\/11\/TealWarehouse.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1629\" \/>\n\t<meta property=\"og:image:height\" content=\"857\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/\",\"url\":\"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/\",\"name\":\"Red Cat Subsidiary Teal Drones Selected for $750K Manufacturing Modernization Grant from State of Utah - Red Cat\",\"isPartOf\":{\"@id\":\"https:\/\/redcat.red\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/redcat.red\/wp-content\/uploads\/2023\/11\/TealWarehouse.jpg\",\"datePublished\":\"2023-11-08T21:18:28+00:00\",\"dateModified\":\"2023-12-06T21:23:02+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/#primaryimage\",\"url\":\"https:\/\/redcat.red\/wp-content\/uploads\/2023\/11\/TealWarehouse.jpg\",\"contentUrl\":\"https:\/\/redcat.red\/wp-content\/uploads\/2023\/11\/TealWarehouse.jpg\",\"width\":1629,\"height\":857},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/redcat.red\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Press Releases\",\"item\":\"https:\/\/redcat.red\/press-releases\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Red Cat Subsidiary Teal Drones Selected for $750K Manufacturing Modernization Grant from State of Utah\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/redcat.red\/#website\",\"url\":\"https:\/\/redcat.red\/\",\"name\":\"Red Cat\",\"description\":\"Defining the Future of All Domain Operations\",\"publisher\":{\"@id\":\"https:\/\/redcat.red\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/redcat.red\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/redcat.red\/#organization\",\"name\":\"Red Cat\",\"url\":\"https:\/\/redcat.red\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/redcat.red\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/redcat.red\/wp-content\/uploads\/2022\/12\/logo-main.png\",\"contentUrl\":\"https:\/\/redcat.red\/wp-content\/uploads\/2022\/12\/logo-main.png\",\"width\":232,\"height\":68,\"caption\":\"Red Cat\"},\"image\":{\"@id\":\"https:\/\/redcat.red\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Red Cat Subsidiary Teal Drones Selected for $750K Manufacturing Modernization Grant from State of Utah - Red Cat","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/","og_locale":"en_US","og_type":"article","og_title":"Red Cat Subsidiary Teal Drones Selected for $750K Manufacturing Modernization Grant from State of Utah - Red Cat","og_description":"Press Release Red Cat Subsidiary Teal Drones Selected for $750K Manufacturing Modernization Grant from State of Utah SAN JUAN, Puerto Rico, Nov. 08, 2023 (GLOBE NEWSWIRE) —\u00a0Red Cat Holdings, Inc.\u202f(Nasdaq: […]","og_url":"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/","og_site_name":"Red Cat","article_modified_time":"2023-12-06T21:23:02+00:00","og_image":[{"width":1629,"height":857,"url":"https:\/\/redcat.red\/wp-content\/uploads\/2023\/11\/TealWarehouse.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/","url":"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/","name":"Red Cat Subsidiary Teal Drones Selected for $750K Manufacturing Modernization Grant from State of Utah - Red Cat","isPartOf":{"@id":"https:\/\/redcat.red\/#website"},"primaryImageOfPage":{"@id":"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/#primaryimage"},"image":{"@id":"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/#primaryimage"},"thumbnailUrl":"https:\/\/redcat.red\/wp-content\/uploads\/2023\/11\/TealWarehouse.jpg","datePublished":"2023-11-08T21:18:28+00:00","dateModified":"2023-12-06T21:23:02+00:00","breadcrumb":{"@id":"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/#primaryimage","url":"https:\/\/redcat.red\/wp-content\/uploads\/2023\/11\/TealWarehouse.jpg","contentUrl":"https:\/\/redcat.red\/wp-content\/uploads\/2023\/11\/TealWarehouse.jpg","width":1629,"height":857},{"@type":"BreadcrumbList","@id":"https:\/\/redcat.red\/press_releases\/red-cat-subsidiary-teal-drones-selected-for-750k-manufacturing-modernization-grant-from-state-of-utah\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/redcat.red\/"},{"@type":"ListItem","position":2,"name":"Press Releases","item":"https:\/\/redcat.red\/press-releases\/"},{"@type":"ListItem","position":3,"name":"Red Cat Subsidiary Teal Drones Selected for $750K Manufacturing Modernization Grant from State of Utah"}]},{"@type":"WebSite","@id":"https:\/\/redcat.red\/#website","url":"https:\/\/redcat.red\/","name":"Red Cat","description":"Defining the Future of All Domain Operations","publisher":{"@id":"https:\/\/redcat.red\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/redcat.red\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/redcat.red\/#organization","name":"Red Cat","url":"https:\/\/redcat.red\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/redcat.red\/#\/schema\/logo\/image\/","url":"https:\/\/redcat.red\/wp-content\/uploads\/2022\/12\/logo-main.png","contentUrl":"https:\/\/redcat.red\/wp-content\/uploads\/2022\/12\/logo-main.png","width":232,"height":68,"caption":"Red Cat"},"image":{"@id":"https:\/\/redcat.red\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/redcat.red\/wp-json\/wp\/v2\/press_releases\/3612","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/redcat.red\/wp-json\/wp\/v2\/press_releases"}],"about":[{"href":"https:\/\/redcat.red\/wp-json\/wp\/v2\/types\/press_releases"}],"version-history":[{"count":4,"href":"https:\/\/redcat.red\/wp-json\/wp\/v2\/press_releases\/3612\/revisions"}],"predecessor-version":[{"id":3618,"href":"https:\/\/redcat.red\/wp-json\/wp\/v2\/press_releases\/3612\/revisions\/3618"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/redcat.red\/wp-json\/wp\/v2\/media\/3614"}],"wp:attachment":[{"href":"https:\/\/redcat.red\/wp-json\/wp\/v2\/media?parent=3612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}