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TOKYO - JEPICO Corporation, a Tokyo-based environmental technology company, has acquired a RedEdge-P multispectral sensor from AgEagle Aerial Systems Inc. (NYSE: UAVS) to monitor and address red tide pollution affecting Japan's coastal ecosystems, according to a press release statement. AgEagle, which maintains impressive gross profit margins of 49.2% and holds more cash than debt on its balance sheet, is currently trading below its InvestingPro Fair Value.
The sensor will be used to analyze harmful algal blooms (HABs) caused by cyanobacteria and dinoflagellates such as Karenia mikimotoi and Heterocapsa circularisquama, which threaten marine life, fisheries, and coastal economies in Japan.
AgEagle's RedEdge-P sensor provides high-resolution multispectral imaging capabilities that enable the detection of chlorophyll-a concentrations and tracking of algal blooms. This technology aims to support early detection and mitigation strategies for protecting Japan's coastal waters and aquaculture industry.
"We are proud to work with JEPICO Corporation in their efforts to reduce the impacts of red tide pollution," said Bill Irby, CEO of AgEagle Aerial Systems. While the company's current ratio of 1.96 indicates strong short-term liquidity, InvestingPro analysis reveals 12 additional key insights about the company's financial health and market position.
The sensor's spectral data collection capabilities will allow real-time monitoring of red tide indicators, which can inform coastal management decisions.
AgEagle Aerial Systems, founded in 2010, has evolved from its agricultural drone origins to become a provider of unmanned aerial systems, sensors, and software for customers in energy, construction, agriculture, and government sectors.
The company did not disclose financial terms of the acquisition in the announcement.
In other recent news, AgEagle Aerial Systems Inc. has made several strategic moves that highlight its ongoing developments. The company disclosed the sale of unregistered equity securities, with Alpha Capital Anstalt purchasing Series F Convertible Preferred Stock, convertible into common stock, for a transaction totaling $1.5 million. This is part of a larger agreement allowing Alpha to buy up to $25 million of Series F Preferred Stock. Additionally, AgEagle participated in a White House policy meeting to discuss FAA Rule Part 108, which aims to regulate Beyond Visual Line of Sight drone operations, indicating its active role in shaping UAV policy.
AgEagle also expanded its international reach by selling two eBee VISION drones to the Government of Paraguay, enhancing its presence in the Latin American market. Furthermore, the company announced a strategic alliance with India's Vyom Drones to manufacture and distribute eBee X drones in India, aiming to meet the rising demand in the agricultural and surveying sectors. In another collaboration, AgEagle partnered with Ascent AeroSystems to integrate its RedEdge-P multispectral camera with Ascent's Spirit coaxial UAV, targeting advancements in agricultural drone technology. These developments reflect AgEagle's strategic efforts to expand its market presence and influence in the global UAV industry.
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