First Test Delivery of the Workhorse Group HorseFly Drone Featured on NBC-TV Affiliate
Section 333 Exemption From FAA Enables Successful Test Delivery of Toy From Workhorse Truck to House
CINCINNATI, Jan. 07, 2016 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (NASDAQ:WKHS) was featured in a news report that aired on the NBC television affiliate in Cincinnati (WLWT-TV Channel 5).
The news report featured the first package delivery test utilizing the HorseFly™ unmanned aerial system (UAS) developed by Workhorse Group. HorseFly was shown delivering a toy from a Workhorse truck to a house in a segment titled “Ohio company could soon be delivering packages by drone: Workhorse testing drone deliveries.”
The testing of HorseFly is being made possible following Workhorse Group’s previously announced receipt of a Section 333 Exemption from the Federal Aviation Administration (FAA). The Section 333 Exemption process provides operators who wish to pursue safe and legal entry into the National Air Space a competitive advantage in the UAS marketplace, thus discouraging illegal operations and improving safety.
Stephen Burns, CEO of Workhorse Group said, “This test delivery was made possible by our receipt of the Section 333 Exemption from the FAA. As one of a small handful of companies to have received that exemption for drone deliveries, we are in a unique position to actually test a delivery from a truck—which was captured in this filming.”
He added, “Receiving the exemption was one of our many commercial, regulatory and financial highlights from 2015. Having kicked off the new year with today’s uplisting to the NASDAQ Capital Market, we look forward to reporting on many more corporate and commercial milestones in the year ahead.”
To read an article that accompanied the news report, please visit the following link: http://www.wlwt.com/news/Ohio-company-could-soon-be-delivering-packages-by-drone/36938156
The article at the link above is provided for informational purposes only. Workhorse Group, Inc. is not responsible for the content of the linked article.
HorseFly is an eight-rotor “octocopter,” designed to be used in tandem with Workhorse Group’s EPA-approved electric work trucks. Weighing 15 pounds empty, HorseFly has a payload capacity of 10 pounds; it can achieve a maximum speed of 50 mph and a flight time of 30 minutes. The HorseFly UAS, which is subject to FAA approval for commercial use, is designed to be given a package and a delivery destination by a delivery driver, using a touchscreen interface in the delivery truck. The HorseFly has the ability to launch itself from the roof of the delivery vehicle and ascend to a safe cruising altitude and then navigate to the desired delivery point—say, a house’s front stoop—autonomously, using GPS navigation.
About Workhorse Group Inc.
Workhorse Group Inc. is the parent company of AMP Electric Vehicles Inc. and AMP Trucks Inc. AMP Electric Vehicles manufactures electric drive systems for medium-duty, class 3-6 commercial truck platforms. AMP Trucks Inc., which purchased the assets of Workhorse Custom Chassis LLC from Navistar in March of 2013, can equip its Workhorse chassis with gasoline, propane, or CNG engines in addition to all-electric. Workhorse Group's HorseFly line of Unmanned Aerial Vehicles (UAV) is designed to be the 'last mile' solution in delivery logistics. The HorseFly is differentiated from other UAVs as it is designed to work in tandem with a Workhorse electric truck. HorseFly is designed to deliver packages, loaded on-route by the truck's driver, to remote locations, while the driver continues on the main delivery route. For additional information visit www.workhorse.com.
This press release includes forward-looking statements, which may be identified by words such as "believes," "expects," "anticipates," "estimates," "projects," "intends," "should," "seeks," "future," "continue," or the negative of such terms, or other comparable terminology. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein. Factors that could cause actual results to differ materially include, but are not limited to: our limited operations and need to expand in the near future to fulfill product orders; risks associated with obtaining orders and executing upon such orders; the ability to protect our intellectual property; the potential lack of market acceptance of our products; potential competition; our inability to retain key members of our management team; our inability to raise additional capital to fund our operations and business plan; our inability to achieve a listing of our securities on a major securities exchange; our ability to continue as a going concern; our liquidity and other risks and uncertainties and other factors discussed from time to time in our filings with the Securities and Exchange Commission ("SEC"), including our annual report on Form 10-K filed with the SEC. Workhorse expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.
Contact: Daniel Zito Executive Vice President Workhorse Group Inc. 513-300-5910 Media: Laura Radocaj Dian Griesel Int'l. [email protected] 212-825-3210
Released January 7, 2016