Business
ZenaTech Expands Southeast Region with Fourth Land Survey Company LOI and Plans to Include Drone Swarms to Address the US $22.8 Billion Average Cost of a Hurricane
VANCOUVER, British Columbia, Jan. 28, 2025 (GLOBE NEWSWIRE) -- ZenaTech, Inc. (Nasdaq: ZENA) (FSE: 49Q) (BMV: ZENA) ("ZenaTech"), a technology company
About this update from Zenatech, Inc.
[{"type":"text","content":"VANCOUVER, British Columbia, Jan. 28, 2025 (GLOBE NEWSWIRE) -- ZenaTech, Inc. (Nasdaq: ZENA) (FSE: 49Q) (BMV: ZENA) (\"ZenaTech\"), a technology company specializing in AI (Artificial Intelligence) drone, Drone-as-a-Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces that it has signed an LOI (Letter of Intent) to acquire a fourth land survey engineering company located in the US Southeast region in Florida. This location will enable the ZenaDrone 1000 drones to assist with cleanup after a hurricane. A significant landfalling hurricane produces an average damage cost of USD $22.8 billion according to the Office for Coastal Management. As the fourth such acquisition, this will further add to the base of ZenaTech’s Drone as a Service or DaaS operations in the Southeast region, providing convenient regional customer access to the ZenaDrone 1000 and the IQ series of multifunction drones. The Company’s subsidiary ZenaDrone plans to produce hundreds of ZenaDrone 1000 drones to assist Florida and other hurricane-prone States to manage natural disasters, including search and rescue with a drone swarm. So far, ZenaTech has acquired two companies this month and has more to come ─ the company has been in discussions with over 25 companies currently in its pipeline. “This LOI for a fourth land survey company acquisition is another step towards our vision to create a national DaaS business, bringing AI drone speed and precision to the innovation of existing verticals and applications. We will target local, state, and federal governmental agencies as our potential customers,” said CEO Shaun Passley, Ph.D. “In addition, we will include Florida as part of our Sky Traffic project where we plan to utilize AI drone swarms and quantum computing algorithms to process vast amounts of real-time, drone-collected data, enabling faster and more optimized response and damage assessments. We are in the process of hiring additional Ph.D.’s in physics and quantum computing as we build out our Sky Traffic project team.” AI-powered drone swarms are designed to work collaboratively in real time by using advanced algorithms to communicate, share data, and coordinate flight paths, ensuring comprehensive coverage of hurricanes and their aftermath in places like Florida, saving lives and enhancing emergency response. They can dynamically adap...