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Duke Robotics Announces New Purchase Order from Israel Electric Corporation for IC Drone, Expected to Generate Over a Million US Dollars in Revenue in 2026
Globenewswire· 2026-03-17 12:30
Core Insights - Duke Robotics Corp. has received a new purchase order from the Israel Electric Corporation, significantly expanding the scope of its Insulator Cleaning Drone System services, expected to approximately double prior engagement [1][2] - The new order extends the existing agreement for an additional year and is projected to generate over a million US dollars in revenue during 2026, marking a significant increase compared to previous service activities with IEC [2][4] - The IC Drone platform offers a safer, more efficient, and environmentally sustainable solution for maintaining high-voltage electric infrastructure, improving safety while reducing operational costs and downtime [3][5] Company Overview - Duke Robotics develops advanced stabilization and autonomous robotic drone systems for civilian and defense markets, with its IC Drone being a first-of-its-kind system for cleaning and monitoring high-voltage electric utility insulators [5] - The company collaborates with Elbit Systems Land Ltd. to market the Bird of Prey weapons drone system, designed for non-line-of-sight and stand-off engagements [5]
Duke Robotics Announces the Appointment of New Advisory Board Members to Support Business Development and Strategic Initiatives
Globenewswire· 2026-03-11 12:30
Core Insights - Duke Robotics Corp. has appointed Mr. Yehoshua Abramovich and Mr. Ran Ben Yehuda to its Advisory Board, enhancing its leadership team with expertise in capital markets and defense technology [1][2][3] Group 1: Advisory Board Appointments - Mr. Yehoshua Abramovich brings over 25 years of experience in Israel's capital markets and public company governance, having held leadership roles in investment firms and served on the board of the Tel Aviv Stock Exchange until 2008 [2][3] - Mr. Ran Ben Yehuda, a retired Rear Admiral with 30 years of service in the Israeli Navy, has extensive operational leadership experience in defense and maritime sectors, including roles at Motorola and ZIM [3][4] Group 2: Strategic Focus - The new Advisory Board members will assist Duke Robotics in strategic priorities and business development, particularly in infrastructure and defense initiatives [4] - Duke Robotics specializes in advanced robotics and drone solutions for both civilian and defense markets, including the Insulator Cleaning Drone and the Bird of Prey weapons drone system [5]
Duke Robotics Announces 25-for-1 Reverse Stock Split
Globenewswire· 2026-03-05 15:21
Core Viewpoint - Duke Robotics Corp. is implementing a 25-for-1 reverse stock split to increase the per-share market price of its common stock, which may support a potential uplisting to a national securities exchange [1][2]. Group 1: Reverse Stock Split Details - The reverse stock split will take effect on March 6, 2026, and the company's common stock will begin trading on a post-split basis under the new ticker symbol DUKRD for 20 trading days [1][2]. - After the reverse stock split, the outstanding shares will decrease from 56,302,147 to approximately 2,252,086, while the total number of authorized shares will remain at 350,000,000 [4]. - Fractional shares resulting from the reverse stock split will not be issued; instead, they will be rounded up to the nearest whole share [4][5]. Group 2: Ownership and Adjustments - The reverse stock split is not expected to change any stockholder's proportional ownership interest, with minimal effects from fractional shares [5]. - Proportionate adjustments will be made to the exercise prices and the number of shares underlying the company's outstanding options, warrants, and other equity-based awards [5]. Group 3: Company Overview - Duke Robotics develops advanced stabilization and autonomous robotic drone systems for civilian and defense markets, including the Insulator Cleaning Drone and the Bird of Prey weapons drone system [7].
Duke Robotics Announces 25-for-1 Reverse Stock Split
Globenewswire· 2026-03-05 15:21
Core Viewpoint - Duke Robotics Corp. is implementing a 25-for-1 reverse stock split to increase the per-share market price of its common stock, aiming to support a potential uplisting to a national securities exchange [1][2]. Group 1: Reverse Stock Split Details - The reverse stock split will take effect on March 6, 2026, with the company's common stock trading under the new ticker symbol DUKRD for 20 trading days [1][2]. - After the reverse stock split, the outstanding shares will decrease from 56,302,147 to approximately 2,252,086 [4]. - The total number of authorized common stock will remain at 350,000,000 shares post-split [4]. Group 2: Shareholder Impact - The reverse stock split is not expected to change any stockholder's proportional ownership interest, aside from minimal effects from fractional shares [5]. - Registered stockholders in book-entry form do not need to take any action, while those holding shares through brokers should contact their brokers for inquiries [5]. Group 3: Company Overview - Duke Robotics develops advanced stabilization and autonomous robotic drone systems for civilian and defense markets, including the Insulator Cleaning Drone and the Bird of Prey weapons drone system [7].
Duke Robotics Announces Launch of AEROTRACE™ - AI-Powered Advanced Aerial Monitoring and Intelligence Solution
Globenewswire· 2026-02-05 13:30
Core Insights - Duke Robotics Corp. has launched AEROTRACE™, an aerial monitoring and intelligence solution aimed at enhancing infrastructure monitoring and operational planning for utilities and industrial operators [1][2][4] Product Overview - AEROTRACE™ integrates advanced hardware, sensors, software, and AI to capture high-resolution aerial data, transforming it into actionable insights for infrastructure assessment [2][3] - The system supports asset condition identification, maintenance prioritization, and improved decision-making across large-scale infrastructure networks [2][3] Strategic Importance - The introduction of AEROTRACE™ signifies an expansion of Duke Robotics' capabilities, adding a monitoring and intelligence layer to its existing technology portfolio [3][4] - AEROTRACE™ can function independently or complement the company's Insulator Cleaning Drone service, enhancing maintenance efficiency [3] Company Background - Duke Robotics develops advanced stabilization and autonomous robotic drone systems for civilian and defense markets, including the innovative Insulator Cleaning Drone [5] - The company collaborates with Elbit Systems to market the Bird of Prey weapons drone system, showcasing its diverse technological applications [5]
Duke Robotics Secures Regulatory Approval for IC Drone Operations in Greece
Globenewswire· 2026-01-13 13:30
Core Insights - Duke Robotics Corp. has received operational authorization for its Insulator Cleaning Drone (IC Drone) from the Hellenic Civil Aviation Authority, marking a significant milestone for the company in the Greek market [1][2][3] Regulatory Approval - The authorization was granted after Duke Robotics Greece successfully completed the Specific Operations Risk Assessment (SORA) process, ensuring compliance with EU Regulation 2019/947 for safe drone operations [2][4] - This approval allows Duke Robotics Greece to transition from regulatory preparation to operationalization of the IC Drone activities in Greece [3][4] Operationalization Phase - The completion of the SORA process under the EU regulatory framework establishes a compliant foundation for Duke Robotics as it expands its European activities [4] - The IC Drone system is designed for cleaning and monitoring high-voltage electric utility insulators, providing a safer and more efficient alternative [5] Company Overview - Duke Robotics develops advanced stabilization and autonomous robotic drone systems for both civilian and defense markets, including a collaboration with Elbit Systems for the Bird of Prey weapons drone system [5]
Duke Robotics Announces $750,000 Private Placement at a Premium to Market
Globenewswire· 2026-01-05 13:30
Core Viewpoint - Duke Robotics Corp. has successfully raised $750,000 through a private placement, which is expected to strengthen its balance sheet and support near-term execution opportunities in advanced robotics technology and autonomous drone solutions for civilian and defense markets [1][2]. Group 1: Private Placement Details - The private placement involved a definitive securities purchase agreement with accredited investors, raising gross proceeds of $750,000 [1]. - Units in the private placement are priced at $0.36 per unit, each consisting of one share of common stock and one warrant to purchase an additional share at $0.65, expiring on November 30, 2026 [3]. - The proceeds will be utilized for working capital and general corporate purposes, including ongoing operational and commercialization initiatives [2]. Group 2: Company Overview - Duke Robotics develops advanced stabilization and autonomous robotic drone systems for both civilian and defense markets, including the Insulator Cleaning Drone (IC Drone) and the Bird of Prey weapons drone system [6]. - The IC Drone offers a safer and more efficient method for cleaning high-voltage electric utility insulators, while the Bird of Prey system is designed for non-line-of-sight engagements [6].
Duke Robotics Advances Market Expansion Strategy for IC Drone Technology in Central Asia Following the Expansion of the Abraham Accords
Globenewswire· 2025-12-11 13:30
Core Insights - Duke Robotics is actively pursuing business development to expand its Insulator Cleaning Drone technology into Central Asian markets, encouraged by Kazakhstan's recent inclusion in the Abraham Accords, which enhances cooperation opportunities with Israel [1][2][3] Group 1: Company Overview - Duke Robotics Corp. specializes in advanced robotics technology and autonomous drone solutions for both civilian and defense sectors, with its Insulator Cleaning Drone being a pioneering system for cleaning high-voltage electric utility insulators [4] - The company has established a collaboration with Elbit Systems Land Ltd. to market the Bird of Prey weapons drone system, designed for non-line-of-sight engagements [4] Group 2: Market Expansion - The strengthening diplomatic ties between Israel and Central Asian nations under the Abraham Accords are creating favorable conditions for introducing Israeli technologies, with Kazakhstan's addition expected to enhance trade and cooperation [2][3] - The Central Asian expansion follows Duke Robotics' ongoing growth strategy in Europe, including recent activities in the Greek market, demonstrating the commercial viability of the IC Drone [3]
Duke Robotics Advances U.S. Market Readiness Efforts to Support Commercial Expansion of IC Drone Technology
Globenewswire· 2025-12-04 13:30
Core Insights - Duke Robotics is advancing its Insulator Cleaning Drone (IC Drone) technology to align with U.S. National Defense requirements and enhance market penetration [1][2][4] - The U.S. readiness efforts are focused on ensuring compliance with the National Defense Authorization Act (NDAA) for the deployment of the IC Drone in critical infrastructure [2][4] - The initiative is driven by a national emphasis on grid reliability and energy infrastructure security, particularly following President Trump's Executive Order aimed at strengthening the U.S. electric grid [3][4] Company Developments - Duke Robotics is evaluating NDAA-compliant drone systems and certified U.S. drone operators to support the operational readiness of the IC Drone [1][2] - The company views the U.S. market as strategically important for utility and national infrastructure technologies, aiming to enhance the operational readiness and market availability of the IC Drone [4][5] - The IC Drone is designed for cleaning, inspection, and monitoring of high-voltage electric utility infrastructure, providing a safer and more efficient alternative [5] Industry Context - The demand for electricity is surging due to factors such as AI data centers and increased domestic manufacturing, making grid resilience a strategic national priority [3] - The focus on energy infrastructure security is underscored by the need for advanced technologies that can operate in regulated and security-sensitive environments [2][3]
Duke Robotics Reports Third Quarter 2025 Financial Results and Provides Business Update
Globenewswire· 2025-11-17 13:00
Core Insights - Duke Robotics Corp. reported significant progress in its international expansion strategy during Q3 2025, particularly in Greece, and noted a growing government focus on drone technologies globally [2][3] Financial Results - Revenue for Q3 2025 was $216,000, a substantial increase from $72,000 in Q3 2024, driven by the expansion of commercial IC Drone service operations [6][13] - Gross profit for Q3 2025 was $123,000, compared to $31,000 in the same period of 2024, reflecting improved operational scale and efficiency [6][13] - R&D expenses for Q3 2025 were $34,000, up from $20,000 in Q3 2024, indicating ongoing investment in advanced technologies [6][13] - G&A expenses for Q3 2025 were $302,000, compared to $229,000 in Q3 2024, primarily due to increased personnel and share-based compensation [6][13] - Operating loss for Q3 2025 was $213,000, a slight improvement from $218,000 in Q3 2024, showing benefits from operating leverage [6][13] - Net loss for Q3 2025 was $230,000, or $(0.00) per share, compared to a net loss of $211,000, or $(0.00) per share, in Q3 2024 [6][13] Year-to-Date Financial Performance - Revenue for the nine months ended September 30, 2025, was $359,000, significantly up from $72,000 in the same period of 2024 [11][13] - Gross profit for the nine-month period was $203,000, compared to $31,000 for the same period in 2024, driven by higher revenues and improved margins [11][13] - R&D expenses for the nine months ended September 30, 2025, were $79,000, down from $137,000 in the same period of 2024, reflecting a shift in resource allocation [11][13] - G&A expenses for the nine-month period were $875,000, compared to $636,000 for the same period in 2024, due to increased personnel and share-based compensation [11][13] - Operating loss for the nine months ended September 30, 2025, was $751,000, compared to $742,000 in the corresponding period of 2024 [11][13] - Net loss for the nine-month period was $778,000, or $(0.01) per share, compared to a net loss of $698,000, or $(0.01) per share, in the same period of 2024 [11][13] Balance Sheet Highlights - Cash and cash equivalents were $361,000 as of September 30, 2025, down from $1.26 million as of December 31, 2024, reflecting ongoing investments and operating cash use [8][12] - Trade receivables totaled $236,000 as of September 30, 2025, primarily from the Israel Electric Corporation [8][12] - The company believes its current cash resources and projected receipts are sufficient to support operations through the second quarter of 2026 [8]