Villepinte, June 14, 2022
DRONE VOLT, expert in embedded artificial intelligence and manufacturer of professional civilian drones, announces a new schedule for the financial operation with PRAGMA INDUSTRIES, French specialist in fuel cells (hydrogen).
DRONE VOLT specifies the new dates for the share exchange transaction with PRAGMA INDUSTRIES following the creation of a joint venture by the two companies with the aim of creating drones capable of flying over long distances with fuel cells H2.
On April 28, 2022, DRONE VOLT announced a timetable for carrying out several capital increases as part of the creation of this joint venture. For technical reasons, these operations could not take place in time.
Thus, DRONE VOLT specifies a new calendar whose deadlines are as follows: June 14, 2022, June 27, 2022, July 15, 2022, September 30, 2022, October 28, 2022 and November 30, 2022 and December 31, 2022.
As an extension of this agreement, DRONE VOLT should ultimately hold approximately 10% of the capital of PRAGMA INDUSTRIES and that the latter should launch an IPO process on Euronext Growth in the coming months.
As a reminder, DRONE VOLT and PRAGMA INDUSTRIES will create a joint venture which will aim to offer all manufacturers of fixed or rotary wing drones hydrogen engines which, thanks to the fuel cell, make it possible to transform the hydrogen into electricity. The first calculations indicate that these technologies should make it possible to double the autonomy of drones operating on a single battery.
Next press release: Revenue for 1er semester 2022, Wednesday July 13, 2022
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About DRONE VOLT
Created in 2011, DRONE VOLT is an aeronautical manufacturer specialized in professional civilian drones and artificial intelligence. DRONE VOLT is established in France, Benelux, Canada, Denmark, the United States, Switzerland and Indonesia. A global partner, DRONE VOLT offers its customers “turnkey” business solutions including various services and training in drone piloting.
The DRONE VOLT Group, a member of GICAT, achieved a turnover of 8.6 million euros in 2021.
DRONE VOLT notably supplies administrations and manufacturers such as the French Army, the Ministry of the Armed Forces, Engie, Total, Bouygues ES, ADP, the Gendarmerie des Transports Aériens (GTA), international governmental agencies, etc.
DRONE VOLT is qualified as an “Innovative Company” by Bpifrance.
DRONE VOLT is listed on the Euronext Growth market in Paris:
Share: Ticker: ALDRV.PA – ISIN code: FR0013088606 – Eligible: PEA, PEA-PME
Warrant: Ticker: BNBS.PA – ISIN code: FR0014007951
More information on www.dronevolt.com
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