Mobilicom’s breakthrough commercial drone upgrade solution released additional $572K purchase order from Israel Ministry of Defense

KEY TAKEAWAYS:

• Mobilicom has released a commercial drone upgrade solution for the after-market in response to the US Ban on certain 3rd party solutions which pose a back door cyber risk.
• Mobilicom anticipates 2019 revenue from this solution to exceed $1 million
• This solution is capable of being used as an add-on to a considerable number of existing drones in the market
• New solution moves Mobilicom up the value chain within existing markets

Mobilicom Limited (Mobilicom) is pleased to announce that it has released a breakthrough Commercial Drone Upgrade Solution and has subsequently secured a $572,000 purchase order from the Israel Ministry of Defense (MOD).

Mobilicom’s groundbreaking Commercial Drone Upgrade Solution serves as an after-market add-on for drone units already sold within the market. Demand for the solution is driven by the US ban on use of certain types of drones in security operations as a result of a backdoor cyber risk.

As a direct result of the US ban, several other western countries have also banned the use of these drones in security operations. Mobilicom’s Commercial Drone Upgrade bypasses this security concern as it enables the continued use of these drones, by solving the backdoor cyber risk and adds advanced capabilities to the communication systems.

This new order from the MOD comes in addition to a purchase of more than $200,000 announced in September 2018. Mobilicom expects revenue from the newly released product to exceed $1 million in 2019.

The Commercial Drone Upgrade Kit enables Mobilicom to move up the value chain by offering a host of SkyHopper products, with third-party elements where necessary, to deliver a complete solution to existing customers within the same market.

Mobilicom’s CEO Oren Elkayam commented:

“Despite having just officially launched the new solution, Mobilicom already has sales impact and is well positioned to drive significant revenue this year with existing and new customers.”

About Mobilicom Limited (ASX: MOB)

Mobilicom designs, develops and markets solutions for mission-critical and remote mobile private communication networks without the need for, or use of, any existing infrastructure. Mobilicom’s products and technology merge 4G communication with Mobile MESH technologies into a unified solution, with several product families that have been commercially deployed. Mobilicom’s SkyHopper entity targets the Professional, Commercial and Industrial UAV market.

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