Workhorse Group Receives Patent for HorseFly™ Delivery Truck-Launched Drone Package Delivery System
CINCINNATI, April 3, 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 patent, number 9,915,956, for the HorseFly Truck Launched Drone Package Delivery System.
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.
"We feel that the patented HorseFly truck launched drone package delivery system is the first major change to the last mile delivery process since the invention of the package delivery truck. Drivers appreciate the fact that the HorseFly system is fast, reliable, and efficient," said Steve Burns, Workhorse CEO. "Last mile package delivery is changing, and the HorseFly delivery system is leading the way."
Designed to assist the delivery driver, the HorseFly drone delivery system helps reduce driving time and allows faster deliveries. The result is considerably more efficiency in everyday delivery routes.
The patented HorseFly truck-launched drone delivery system works in this manner: 1) the truck delivery driver loads the package and launches the HorseFly drone, 2) the HorseFly drone autonomously launches from the rood of the delivery truck, proceeding to the delivery location, 3) at the delivery location the drone automatically descends and delivers the package, and 4) the HorseFly drone returns to the delivery truck at a planned stop and autonomously redocks and recharges for its next delivery.
"We feel that package delivery by drone is here," continued Burns. "Soon your package may come to your home by HorseFly!"
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 April 3, 2018