CINCINNATI, April 15, 2020 /PRNewswire/ -- Workhorse Group
Inc. (NASDAQ: WKHS) ("Workhorse"
or "the Company"), an American technology company focused on
providing sustainable and cost-effective electric vehicles to the
last mile delivery sector, has expanded its patent portfolio
through a recently filed provisional application, further
protecting the HorseFly™ Unmanned Aerial
System (UAS) and several of the system's key components and
capabilities, including its ground control station, winch
deliveries and aircraft structure. The HorseFly UAS includes a
safe, reliable, multi-use aircraft that can deliver parcels, carry
sensors and cameras, and operate autonomously with a high degree of
precision.
The HorseFly was designed to deliver what represents
approximately 80% of most commercial package sizes, shapes, and
weights while safely carrying a five-pound payload up to 10 miles.
The HorseFly system's success has been demonstrated through
real-world commercial deliveries, flying autonomously from
truck-top operations in U.S. airspace, in a process that meets all
Federal Aviation Administration (FAA) flight standards. The
aircraft's flexible design allows users to select different
delivery methods including air drops, winch deliveries from various
altitudes, and ground deliveries. Its quick-change battery system
also effectively reduces ground time between missions. The
aircraft's durable structure supports superior levels of
reliability in the high-utilization, demanding markets of
commercial and industrial users.
HorseFly's mission planning software enables operators to
coordinate precise delivery routes, avoiding no-fly zones and
hazardous weather. The planning system also includes a customer
interface that enables remote pilots to monitor missions from
virtually anywhere, notifying pilots when their attention is
required. With this capability, the system can adapt to most every
mission and customer's need.
"In the last several months we have seen significant and growing
interest in our vehicle-launched HorseFly delivery drone, making
the need to expand the HorseFly patent portfolio even more
critical," said Workhorse CEO Duane
Hughes. "We believe this increased consideration is a direct
result of the COVID-19 global pandemic and the recognition that new
methods of delivery are quickly becoming essential. Additionally,
we are hearing from many businesses that this transition is not a
temporary one, and that we need to adapt to a new normal. We feel
strongly that all Workhorse electric delivery vehicles, with their
integrated drone capabilities, are the most economical and
efficient last mile option currently available, making our
solutions a necessity now and for future critical
applications."
A recent article published on Forbes titled The Time For
Delivery Drones To Rise Up Is Now has also called
for more delivery drones to support package delivery in the new
social distancing world.
About Workhorse Group Inc.
Workhorse is a technology company focused on providing 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.
Forward-Looking Statements
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 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 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.
Media Contact:
Mike Dektas
Creative
Storm PR
513-266-3590
mike@creativestorm.com
Workhorse Investor Relations Contact:
Matt Glover and Tom Colton
Gateway Investor
Relations
949-574-3860
WKHS@gatewayir.com
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SOURCE Workhorse Group Inc.