Workhorse Enters into Pilot Program with the USDA’s Natural Resources Conservation Service for its Small Unmanned Aerial Systems
CINCINNATI, Aug. 12, 2021 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (Nasdaq: WKHS) (“Workhorse” or “the Company”) an American technology company focused on providing sustainable and cost-effective drone-integrated electric vehicles to the last-mile delivery sector, today announced that it has entered into a pilot program with the U.S. Department of Agriculture’s (“USDA”) Natural Resources Conservation Service (“NRCS”) to demonstrate its ability to provide small Unmanned Aerial Systems (“sUAS”) as a service to support NRCS efforts in Mississippi.
The NRCS is an agency of the USDA that provides technical assistance to farmers and other private landowners and managers by running voluntary programs and offering science-based solutions that benefit both the landowner and the environment. The NRCS conducts a daily wetland supervision process to audit the quality of drainage easements, dams, ponds, waterways, and various wetlands across thousands of areas of interest throughout the country. This process is currently conducted using satellite imagery as well as hundreds of employees to examine key checkpoints.
The NRCS has entered into an agreement with Workhorse’s Aerospace division to improve its supervisory efforts. As part of the pilot program, Workhorse will offer sUAS services, including monitoring via drone, data procurement and analytics. Automating the daily audits with the sUAS will allow the NRCS to expedite information delivery, increase safety for auditors on the ground, be more cost-effective, increase fidelity of the data gathered, and ultimately create a more efficient procedure. The first phase of the program involves the Company collaborating with NRCS agents to gain a field-level understanding of the program’s deliverables before implementing its sUAS technology to gather actionable data and insights.
“Engaging in this pilot agreement with the NRCS is the first step in expanding our footprint beyond package delivery and the last mile delivery space,” said Workhorse President – Aerospace John Graber. “Our sUAS technology presents opportunities to diversify our product offerings as well as our potential customer base. We believe our technology and systems are well-suited to meet the needs of the NRCS as they provide a more efficient and effective method for data gathering and analytics compared to their current processes. The goal for this program is to provide the NRCS with a more accurate, economical, safe, and effective solution that can revamp the way they perform wetland supervision. Going forward, we’ll be looking at additional opportunities to further commercialize the data acquisition segment of our business through our sUAS, both in the public and private sectors.”
About Workhorse Group Inc.
Workhorse is a technology company focused on providing drone-integrated electric vehicles to the last-mile delivery sector. As an American original equipment manufacturer, we design and build high performance, battery-electric vehicles including trucks and aircraft. Workhorse also develops cloud-based, real-time telematics performance monitoring systems that are fully integrated with our vehicles and enable fleet operators to optimize energy and route efficiency. All Workhorse vehicles are designed to make the movement of people and goods more efficient and less harmful to the environment. For additional information visit workhorse.com.
This press release includes forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements 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; negative impacts stemming from the continuing COVID-19 pandemic; 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 satisfy covenants in our financing agreements; our inability to maintain our listing of our securities on the Nasdaq Capital Market; our inability to satisfy our customer warranty claims; 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.
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Released August 12, 2021