Workhorse Group Receives Notice of Allowance for HorseFly™ Truck Launched Drone Package Delivery System Patent
CINCINNATI, Feb. 1, 2018 /PRNewswire/ -- Workhorse Group Inc. (NASDAQ: WKHS), an American technology company focused on providing sustainable and cost-effective solutions to the commercial electric transportation sector, today announced that the United States Patent and Trademark Office (USPTO) has issued a notice of allowance for the HorseFly Truck Launched Drone Package Delivery System patent application.
The HorseFly system adheres to all current FAA safety regulations for drone package delivery, as each package is delivered within the delivery driver's "line of sight."
The truck launched drone system is designed to assist a driver as follows:
- The truck delivery driver loads the package and launches the HorseFly drone
- The HorseFly drone autonomously launches from the roof of the delivery truck, gains altitude and proceeds to the delivery location
- At the delivery location the drone autonomously descends and the package is released
- The HorseFly drone returns to the delivery truck at a planned stop and autonomously redocks and recharges for its next delivery
The system was first successfully tested in a rural delivery, launching the drone with package from atop a truck. The HorseFly system provides significant cost efficiency by eliminating extra miles of driving to deliver packages.
"We believe, as we proceed with the patent application process, that the HorseFly truck launched drone package delivery system will be the first major change to the last mile delivery process since the invention of the truck. The HorseFly system is designed to work with the truck driver to increase efficiency," said Steve Burns, Workhorse CEO. "We feel this is a game-changing moment in time that will innovate the way packages are delivered for many years to come."
The HorseFly UAV Delivery System is a custom-built, high efficiency delivery UAV that is fully integrated with the Workhorse line of electric/hybrid delivery trucks. The HorseFly system conforms to FAA guidelines for UAV operation in the U.S. Most notably, being fully integrated with delivery trucks, the system is designed such that a driver or driver's assistant can maintain line-of-sight operation of the UAV delivery process.
About Workhorse Group Inc.
Workhorse is a technology company focused on providing sustainable and cost-effective solutions to the commercial transportation sector. As an American original equipment manufacturer, we design and build high performance battery-electric vehicles including trucks and aircraft. We also develop 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 www.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; 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 maintain our listing of our securities on the Nasdaq Capital Market; 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.
SOURCE Workhorse Group Inc.
Released February 1, 2018