PRZOOM - /newswire/ -
Las Vegas, NV, United States, 2012/02/17 - Advanced Defense Technologies Inc. (ADTI) and Halberd Corporation (HALB) announce joint venture to build next generation drones and UAVs global spending on drones is forecast to nearly double in the next decade, growing to $11.3 billion a year.
Advanced Defense Technologies, Inc. (pinksheets:ADCF), announced today it has signed a joint venture with North Carolina based Halberd Corporation (pinksheet: HALB) to build next generation drones and UAVs. The joint venture focuses on short and long range drones/UAV for both defense and commercial markets. Global spending on drones is forecast to nearly double in the next decade, growing to $11.3 billion a year according to industry research firm Teal Group.
The joint venture combines ADTI's and Halberd's core technologies to develop a cost-effective, next generation drone and UAV system. The payload system will utilize ADTI's microwave/millimeter-wave circuits, subsystems and system designs including wideband phased array antenna designs, T/R modules, transceivers, electronically steered antennas (ESA), and wideband RF antenna systems. The aircraft systems will utilize Halberds short and long-range Unmanned Aircraft and drone technology incorporating advanced composite construction techniques and ultra light materials. The combined Companies will be delivering flexible, mission specific drones and UAVs that will perform various simple and complex missions.
R.S. Tahim, President and CEO of Advanced Defense Technologies, Inc., stated,"The joint venture allows ADTI to move forward quickly and produce mission specific drones in a cost effective and timely manner. We have already set up a team comprised of members of both companies and we are currently strengthening the team with other leading scientists and technology partners. We feel confident this collaborative approach will expand the capabilities of the system and also expedite our ability to close revenue generating contracts."
About Halberd Corporation (HALB)
Halberd Corporation (halberdcorp.com) is a manufacturer of both short and long-range Unmanned Aircraft. Our UAV's are intended for both private and governmental use in such diverse industries as military, oil and gas, municipal, meteorological, forestry, agriculture and coastal/border surveillance.
About Advanced Defense Technologies (ADTI)
Advanced Defense Technologies (theadti.com) develops systems and technologies for the military defense and homeland security industry. The Company's system design technology has been developed under several SBIR Programs with Government Agencies including NASA, DARPA, a prestigious defense contractor (Phillips Labs), and the US military (USAF, ARMY, NAVY and MDA).
Safe Harbor Statement This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Advanced Defense Technologies, Inc., and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.