Ondas Holdings (ONDS) Establishes Ondas Autonomous Holdings

Ondas Holdings Inc. (NASDAQ: ONDS) ("Ondas" or the "Company"), a leading provider of private industrial wireless networks and commercial drone and automated data solutions, announced today that it has established Ondas Autonomous Holdings Inc. ("OAH"), as a new, wholly owned subsidiary. The newly created OAH is an intermediate holding company which now wholly-owns Ondas' subsidiaries American Robotics Inc. ("American Robotics") and Airobotics Ltd. ("Airobotics"), which are together operated as the Ondas Autonomous Systems ("OAS") business unit. The creation of OAH is intended to provide additional organizational flexibility to support the management and financing of the OAS business unit and its growth plan. OAS has demonstrated strong early revenue momentum which is expected to accelerate. On a preliminary, unaudited basis OAS generated $9.0 million in revenue for the year ended December 31, 2023.

"Ondas has established a leadership position in delivering aerial security and data solutions to large, fast growing commercial and government end markets," said Eric Brock, Chairman and CEO of Ondas Holdings. "This leadership is driven by the market-leading performance and reliability of our Optimus System, a fully autonomous drone platform, and our Iron Drone Raider counter-UAS platform which is addressing an urgent need for defense against hostile drones. From here, we see a unique opportunity to provide a broader set of scalable global solutions through the integration of proven technical platforms with the infrastructure, field services and regulatory expertise required to define the next phase of growth in the global Drone Economy."

"As drone technologies mature and drone regulations advance, we believe the drone sector is entering a very strong investment cycle. The first order of business for our OAS management team is to continue driving fleet adoption of our Optimus and Iron Drone Systems in the critical industrial, government and security and defense markets we target. With customer growth and a broader set of solutions we see a huge opportunity in the coming years to be a consolidator of leading technology developers and drone service providers to offer the broadest set of undeniably scalable solutions for global markets," Brock concluded.

Ondas has established a leadership position in developing and commercializing automated drone systems through its OAS business unit comprising of American Robotics and Airobotics. Ondas is at the forefront of a pivotal moment in the aviation and data industries, with its leadership in expanding automated beyond visual line of sight (BVLOS) operations globally via the Optimus and Iron Drone Raider drone platforms. The Optimus System is being commercially deployed as Urban Drone Infrastructure in cities where automated fleets of Optimus drones are installed and remotely operated for smart city and public safety applications. The Optimus drone was recently awarded Airworthiness Type Certification by the FAA allowing for expanded operations in urban settings including the operation over people, roads and highways and critical infrastructure. The Iron Drone Raider is an autonomous counter-UAS (C-UAS) system designed to protect critical infrastructure, borders and people from the threats posed by hostile drones.

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