Red Cat (RCAT) said Wednesday it is launching a new line of unmanned surface vessels, marking the company's official entry into the maritime autonomy market.
The company said it has formed a partnership with an unmanned surface vessel maker for the initiative.
Red Cat is preparing to commence production in Q3 of a seven-meter expeditionary multi-role craft, it said.
The company's shares were up 9.9% in recent premarket activity.
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