Drone Maker Companies Rise. Ondas Holdings up 7%; Unusual Machines up 6%; Red Cat up 3%; SES AI Corp up 2%
Drone maker companies rose in premarket trading. Ondas Holdings up more than 7%; Unusual Machines up 6%; Red Cat up 3%; SES AI Corp up 2%.
In company news, Unusual Machines said Wednesday it leased a 17,000-square-foot facility in Orlando, Florida, for drone motor production.
The facility will boost the company's US production of brushless motors for first-person view and commercial drones, according to a statement.
The facility is expected to accommodate monthly production volumes of 50,000 motors, the company said.
Motor shipments from the new facility are expected to start in September, the company added.
Red Cat said last week that it is partnering with ESAero to provide AS9100 manufacturing capacity for its Black Widow small, unmanned aerial system and its subsystems.
The AS9100 standard ensures a manufacturer has a quality management system in place to meet the requirements of the aerospace industry, the company said.
"As we ramp up production of the Black Widow to fulfill our SRR contracts and meet growing demand from US and international customers, securing...manufacturing capacity is critical," said CEO Jeff Thompson.
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