London-listed Maestrano Group (AIM: MNO) told investors this morning that it has signed a joint distribution agreement with Netherlands-based UAV producer Acecore Technologies.
The partnership with Acecore Technologies, a company that produces unmanned aerial vehicles (UAVs), more commonly known as drones, is expected to substantially increase the distribution networks and sales volumes for both companies.
Maestrano’s subsidiary, Nextcore, manufactures a lightweight drone based LiDAR (light direction and ranging) unit under the model name RN50. The company’s unit is used by digital survey companies worldwide and is sold via a network of specialist distributors.
Nick Smith, Vice President Sales for Maestrano, has described the combination of Acecore’s drone and Maestrano’s unit as “a perfect match for scanning large areas."
Shares in Maestrano Group have climbed from 1.8p in June and were trading 15.79% higher this morning at 11p following the announcement.
Commenting on the distribution agreement, Youri van Helden who is Marketing Manager at Acecore Technologies said, “When attached to the Acecore Noa hexacopter, the RN50 will be capable of accurately and autonomously scanning over 80 hectares in a single flight.
The Acecore systems can be fitted with laser-guided terrain following and 360° collision avoidance technologies, further improving the performance and ease of use of the RN50.”
Meatstrano and Acecore said they have been working closely together for ‘an extended period of time’ in order to establish seamless integration of its technologies and plan for the distribution of the bundled turnkey solution within their current world-wide sales networks.
"The board is pleased by the rapid growth of Nextcore's partner channel, increasing market reach and solution depth,” said Ian Buddery, Chairman of Maestrano.
He added, “In addition, the demand for alternative UAV systems has been growing strongly in recent months for customers who require absolute data protection and integrity.”
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