Business
Sen. Mitt Romney Visits Red Cat Subsidiary Teal Drones to Discuss Support for U.S. Drone Industry
Romney is co-sponsoring the American Security Drone Act of 2023, which aims to address the proliferation of Chinese-owned drone companies SAN JUAN, Puerto
About this update from Red Cat Holdings, Inc.
[{"type":"text","content":"Romney is co-sponsoring the American Security Drone Act of 2023, which aims to address the proliferation of Chinese-owned drone companies\nSAN JUAN, Puerto Rico, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or the “Company”), a drone technology company integrating robotic hardware and software for military, government and commercial operations, announces that Utah Sen. Mitt Romney recently toured the Salt Lake City headquarters of Red Cat subsidiary Teal Drones. The visit, which took place on Aug. 22, was designed to educate Sen. Romney on Teal’s operations, specifically its factory that was purpose-built to meet the growing demand for U.S.-made drones. Sen. Romney met and spoke with Teal’s department heads and learned more about the engineering, testing, manufacturing, supply chain and compliance process for Teal’s products, including the Teal 2, a Blue UAS-certified military-grade drone. Sen. Romney is a co-sponsor of the American Security Drone Act of 2023, which aims to strengthen U.S. drone manufacturing for national security purposes by prohibiting federal agencies from purchasing drones made by Chinese government-linked companies. “As the United States faces the growing threat of China, Utah-based companies like Teal Drones are playing key roles in our national security and industrial base,” said Sen. Romney. “I enjoyed touring their facility in Salt Lake to better understand their manufacturing process and discuss ways to decrease America’s dependence on China for hardware critical to our security.” “We’re grateful for Sen. Romney’s interest in our company and his ongoing support for the U.S. drone industry,” said George Matus, Teal founder and CEO. “The American Security Drone Act, if passed, will lead to further investment in American UAS, accelerating our domestic industry’s ability to close the gap with China and build a strategic deterrence to future conflict.” Chinese drone manufacturers, including DJI and Autel, currently lead the industry in sales volumes, though much of that is due to historical and continued Chinese government subsidization. This has allowed Chinese drones to flood the global market and undercut American competition, ultimately creating dependency, dual-use, and data-flow risks that are now critical to national security. “We applaud Sen. Romney for his lead...