Red Cat Holdings, Inc. (NASDAQ:RCAT) (“Red Cat” or the “Company”), a drone technology company integrating robotic hardware and software for military, government and commercial operations, today announces that subsidiary Teal Drones has signed $1.8 million in contracts with U.S. Customs and Border Protection (CBP) to provide Teal 2 systems to U.S. Border Patrol.
Teal will deliver 106 Teal 2 drones plus spare parts and training. Border Patrol is using the Teal 2 to provide supplemental airborne reconnaissance, surveillance and tracking capability, enhancing situational awareness for U.S. field commanders and agents.
The single-source contract is part of a Blanket Purchase Agreement (BPA) between CBP and five drone companies, announced in December 2021, with a total estimated value of $90 million over a five-year period.
Last October, CBP had initially ordered 54 Teal drones for U.S. Border Patrol in a contract worth just over $1 million.
