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MIAMI - Wrap Technologies, Inc. (NASDAQ:WRAP) announced Thursday a partnership with Law Enforcement Training Academies and Consulting (LETAC) USA to develop what they describe as the first Non-Lethal Response: Machine-to-Man Policy Framework. The $126.7 million market cap company has seen its stock surge 57.7% over the past year despite a 9.6% drop last week. According to InvestingPro analysis, Wrap appears overvalued at current levels based on its Fair Value assessment.
The initiative aims to establish guidelines for how autonomous and semi-autonomous systems interact with humans during high-stress encounters across policing, federal security, corporate, campus, and healthcare environments.
Under the agreement, the companies plan to jointly develop a policy framework and proof-of-concept package for Wrap-integrated systems, including air, ground, and robotic platforms. Planned deliverables include a comprehensive policy framework, sector-specific policy templates, tactical standard operating procedures, and demonstration materials.
"This collaboration aims to establish the policy foundation for the next generation of non-lethal technology and training," said Jared Novick, President and Chief Operating Officer of Wrap, according to the press release.
Imran Ali, Chief Executive Officer of LETAC USA, stated, "We seek to build the operational, legal, and ethical guardrails that will define how machines engage with humans."
Both organizations will jointly own the resulting work to maintain exclusivity across the public safety landscape. The partnership is intended to serve as a blueprint for future pilot programs, training certifications, and federal regulatory engagement.
Wrap Technologies provides various public safety technologies including the BolaWrap 150 non-lethal restraint device, WrapReality training platform, and WrapVision body-worn camera system. The company reports its products are used by over 1,000 agencies in the U.S. and across 60 countries.
The announcement was made in a company press release issued Thursday.
In other recent news, Wrap Technologies announced the successful completion of the first stage of aerial defense testing for its Project MERLIN-1 modular aerial defense system. These tests, conducted in Virginia and North Carolina, confirmed various design specifications, including housing size and remote flight capabilities. Additionally, Wrap Technologies unveiled the DFR-X, the first commercially available non-lethal drone interdiction system in the U.S., which integrates BolaWrap technology into drones for active response use. The company also conducted a successful air-to-air interdiction test using its BolaWrap entanglement system on a drone platform. In a move to expand its reach into federal contracts, Wrap Technologies formed Wrap Federal, LLC, a subsidiary focused on serving U.S. government clients. The company aims to meet federal compliance standards and collaborate with prime contractors. Furthermore, Wrap Technologies expanded its board of directors with the appointment of John D. Shulman, founder of Juggernaut Capital Partners, while announcing the departure of Jerry Ratigan from his executive roles.
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