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VANCOUVER - ZenaTech, Inc. (NASDAQ:ZENA) announced Tuesday that its subsidiary ZenaDrone has submitted its IQ Square drone for Green UAS (Uncrewed Aircraft System) certification, a step toward getting the device on pre-approved procurement lists for U.S. Department of Defense and government buyers. The company, currently valued at $138 million, has seen its stock surge over 280% from its 52-week low, though it remains 57% below its peak of $12.43.
The compact drone is designed for infrastructure inspections, terrain mapping, surveillance, and reconnaissance in high-risk environments, according to a company press release.
"ZenaDrone’s IQ Square Green UAS submission marks a critical milestone in our commitment to national security and defense readiness," said Shaun Passley, ZenaTech CEO.
Green UAS certification is a compliance and cybersecurity framework developed by AUVSI, an uncrewed systems industry trade association, in collaboration with the U.S. Department of Defense. The certification verifies that drones are free of components from foreign adversaries and meet standards for cybersecurity, data protection, and supply chain integrity.
The ZenaDrone IQ Square features a 40 x 40 and 50 x 50 VTOL (Vertical Takeoff and Landing) frame with autonomous charging capabilities and provides 20-25 minutes of flight time. The device is equipped with AI-driven cameras and sensors for various defense and tactical applications. According to InvestingPro, analysts expect continued sales growth for ZenaTech, with over 8 additional exclusive insights available to subscribers.
ZenaTech develops business technology solutions specializing in AI drones, Drone as a Service, enterprise SaaS, and quantum computing solutions. The company operates through offices in North America, Europe, Taiwan, and UAE. With a current ratio of 1.34 and moderate debt levels, the company maintains adequate liquidity for its expansion plans, though InvestingPro’s analysis suggests the stock is currently overvalued relative to its Fair Value.
In other recent news, ZenaTech, Inc. has announced plans to significantly expand its facilities in Phoenix, Arizona, tripling the space to boost its US drone manufacturing capabilities. This decision follows favorable US policy shifts that have provided federal funding and eased certification and procurement processes. Additionally, ZenaTech has developed a quantum computing prototype aimed at enhancing its AI drone capabilities, specifically for real-time data analysis. This prototype was initially tested with weather forecasting algorithms under the Clear Sky project. In a move to strengthen its presence in the US, ZenaTech has also signed an offer to acquire a California-based civil engineering and land surveying firm. This acquisition is expected to facilitate the company’s entry into California’s agricultural market, focusing on precision agriculture applications. Moreover, ZenaTech has submitted a Green UAS application for its IQ Nano drone, which, if approved, would allow it to be listed for procurement by US Defense and government buyers. The company has also completed its sixth acquisition of a US land survey company, further expanding its operational footprint. These developments reflect ZenaTech’s strategic efforts to enhance its technological capabilities and market reach.
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