- Nussbaum to Lead Expansion of
Strategic Partnerships and Recruitment of Additional Military and Commercial
Management Talent -
JACKSONVILLE, FL – May 2,
2016 – Drone Aviation Holding Corp. (OTCQX: DRNE) (“DAC” or “Drone Aviation”), today
announced that in an effort to capitalize on increasing interest in its tethered
aerostat and drone technology from Department of Defense (DoD) as well as civil
and commercial entities, it has appointed Jay H. Nussbaum, Chairman of the
Board and current investor, to the additional position of Chief Executive
Officer, replacing Kevin Hess who has been appointed Chief Technology Officer.
In this added capacity, Mr. Nussbaum will be responsible for leading
development of new strategic partnerships and the recruitment of highly
experienced government and military sales, management and board-level personnel
while Mr. Hess will continue to lead product and technology development efforts
at the Company.
“In the short time I have been
involved with this company, I have seen the demand for aerial monitoring and
communications solutions expand dramatically, with few tethered products on the
market today able to meet the growing needs for cost-effective, mobile,
actionable intelligence as reliable as Drone Aviation’s technology,” said
Nussbaum. “More than an aerial hardware platform, our technology can
economically address the evolving requirements for data and information that
can help provide protection and security to our military and to civilians, as
confirmed by our two recent DoD contracts.”
Since joining the Company in June
2015, Mr. Nussbaum has played a central role in leading the Company’s
transition from a testing and development organization into a commercial
provider of unique tethered aerial products serving the US military and a
number of government agencies. Mr. Nussbaum is also an investor in the Company
having participated in a number of recent financing transactions.
The Company’s strategic plan for 2016
includes the following initiatives:
·
Expand operations through a sales office in the
Washington, D.C.-area, enhancing sales and support for military, governmental,
commercial, national security and law enforcement organizations. A permanent
presence in this location will elevate the Company’s visibility to these
significant channels for its novel, persistent monitoring, surveillance and
communications platforms.
·
Develop additional strategic relationships with potential
customers by expanding its Board of Directors, Strategic Advisory Board and leadership
teams, which will bring extensive military intelligence and
government/commercial sales expertise to expand direct and channel revenue
opportunities.
·
Showcase the strategic capabilities of its
low-cost, mobile, tactical tethered aerostats and drones to enhance
communications and surveillance capabilities of military, government and first
responder communities.
Mr. Nussbaum has built a nearly 40-year track
record of success in government and commercial sales and management including serving as executive vice president of Oracle Service Industries
where he reported directly to Oracle's chairman and CEO, Larry Ellison. At Oracle, he
oversaw government, education, health, communications, utilities and financial
services operations, helping grow the U.S. government business from less than
$60 million to more than $1.5 billion in less than ten years. Nussbaum also
served as founder, vice chairman and chief operating officer of Agilex
Technologies Inc., successfully growing the start-up business to over $300
million in annual revenue before it was acquired by Accenture Federal Services,
a provider of mission and technology solutions to the national security, healthcare
and public sectors of the U.S. government.
About
Drone Aviation Holding Corp.
Drone Aviation Holding Corp. (OTCQX: DRNE)
develops and manufactures cost-effective, compact and rapidly deployable aerial
platforms including lighter-than-air aerostats and electric-powered drones
designed to provide government and commercial customers with enhanced
surveillance and communication capabilities. Utilizing a proprietary tether
system, the Company’s products are designed to provide prolonged operational duration
capabilities combined with improved reliability, uniquely fulfilling critical
requirements in military, law enforcement and commercial and industrial
applications. For more information about Drone Aviation Holding Corp. please
visit www.DroneAviationCorp.com or view our reports and filings with the
Securities and Exchange Commission on http://www.sec.gov, including the Risk
Factors included in our Annual Report on Form 10-K for the fiscal year ended
December 31, 2015, as well as information about the Company in our Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K.