Red Cat Receives Notice of Patent Issuance Supporting Commercial Product Portfolio

Red Cat Holdings, Inc. (OTCQB: RCAT) (“Red Cat” or the “Company”), a leading brand in the drone industry, announced that its wholly owned subsidiary, Fat Shark Holdings, has received notice that the US Patent Office has approved its patent application covering the optical architecture of its FPV (first person view) headsets. The technology underlying this patent enables the construction of a higher performance headset at a lower cost. The Company expects this technology to be a core component of its expanding product line designed for the commercial deployment of drones which is expected to grow significantly over the next decade.

“Red Cat is building a diversified portfolio of drone technology products and services in an industry that is forecast to reach $40 billion by 2025″(Globe Newswire) stated Jeffrey Thompson, Chief Executive Officer. “Covid-19 has dramatically accelerated the adoption and deployment of drones across many industries. We believe that certain drone products and services that are introduced in the future will incorporate our patented technologies, and we are pleased to further protect our technology portfolio.”

“We believe that the technology underlying this patent will enable companies to develop drone solutions in a more cost effective and quicker manner, and result in a more advanced solution” stated Allan Evans, President of Fat Shark Holdings. “The utility of this patent has already been demonstrated by our successful rebuttal of a competitor’s attempt to launch a comparable product”

About Red Cat
Red Cat provides products, services and solutions to the drone industry through its three wholly owned subsidiaries. Fat Shark Holdings is the leading provider of First Person View (FPV) video goggles to the drone industry. Rotor Riot, LLC is a leader in the sale of FPV drones and equipment, primarily to the consumer marketplace through its digital storefront located at www.rotorriot.com.  Rotor Riot enjoys high visibility in social media through its Facebook page and its sponsorship of a professional drone racing team which has won numerous championships. Red Cat Propware is developing a Software-as-a-Solution (“SaaS”) platform to provide drone flight data analytics and storage, as well as diagnostic products and services.