Category Archives: Business News

Australia Invests Aus $101M in WASP AE Fleet

The Australian federal government has announced it will be investing AU$101 million into small unmanned aerial systems for use by the Australian Defence Force (ADF). The funding for the drone fleet comes under tranche one of a two-tranche program, with Minister for Defence Marise Payne commenting that Defence chose Wasp AE to meet an immediate need. Continue reading

Global UAV Tech to Purchase NOVAerial Robotics

Procyon 800E

Global UAV Technologies Ltd. (formerly Alta Vista Ventures Ltd.) has announced that on May 24th, it signed a Letter of Intent (LOI) to purchase a 100% interest in the Canadian-based company, NOVAerial Robotics Inc. (“NOVAerial”) for a total consideration of CAD $700,000 – payable as $300,000 in cash and $400,000 in shares of Global UAV Technologies. $10,000 of the funds is payable as a refundable deposit. Continue reading