Sanswire's UAV Joint Venture Conducts Flight Test and Receives Additional Working Capital
Sanswire Corp. announced that it has completed a series of flight tests of a new segmented airship design based on a single swiveling engine technology that incorporates a vector thrust propulsion application. The testing follows a private placement through European investors earmarked exclusively for further development and testing of Sanswire-TAO's patented, segmented Unmanned Aerial Vehicle (UAV) at the Stuttgart facility. Sanswire-TAO Corp is a joint venture between the Company and TAO Technologies GmbH.
The newly developed propulsion system undergoing testing can be powered by various engine configurations, depending on mission requirements including payload, duration and altitude. Recent test flights were conducted using the Company's proprietary propulsion solution coupled to a remotely operated swiveling gimbal mounted to the head of the segmented airship.
Dr. Bernd Kroeplin, president of TAO, is using the working capital to advance the autonomous flight controls, and ready patented energy storage and propulsion systems for high altitude testing. Other uses of proceeds will be construction and un-tethered testing of scaled prototypes that study flight characteristics of the segmented airship design when integrated with propulsion systems and various implementations of auxiliary systems.
Jonathan Leinwand, Chief Executive Officer of Sanswire Corp., stated, "This capital infusion helps the joint venture channel the proper resources toward our shared goal of successful stratospheric flight. The private placement enabling this infusion was made at a considerable premium to our share price, which we view as a show of confidence in our business plan and UAV performance capabilities."
On June 19, 2008, Sanswire and TAO announced that they had reached an agreement to form Sanswire-TAO Corp. to own the intellectual property associated with the design of low, medium and high altitude airships. The companies continue to work together to advance their lighter than air (LTA) unmanned aerial vehicle (UAV) program advancing closer to their goal of producing the non-rigid, segmented high altitude airship known as the Stratellite(TM).
To view a video clip of the recent test flights, please visit http://sanswire.com/23m/ and for the latest up-to-date pictures and more information on Sanswire-TAO please visit www.sanswiretao.com.
About Sanswire Corp.
Sanswire Corp. develops and provides an integrated suite of aerospace communications products and services, leveraging its relationships with leaders in UAV (Unmanned Aerial Vehicle) technologies. Sanswire Corp. is focused on the design and construction of various aerial vehicles, capable of carrying payloads that provide persistent surveillance and security solutions at various altitudes. For more information, visit http://www.sanswire.com.
About Sanswire-TAO Corp.
Sanswire-TAO exclusively owns and markets all the technology and intellectual property associated with TAO's lighter than air (LTA) unmanned aerial vehicles (UAV), including the Stratellite(tm) high-altitude airships, the SAS-51 low-altitude airships, the mid-altitude SkySat airship category, and the PADDS Precision Air Drop Delivery System in the US, Canada and Mexico. Sanswire-TAO Corp. is jointly owned by TAO Technologies GmbH and Sanswire Corp. For more information, visit http://www.sanswire-tao.com.
About TAO Technologies GmbH
TAO-Technologies GmbH, in cooperation with the University of Stuttgart, led by Professor Dr. Bernd Kroeplin is highly regarded throughout the world for research, design, development and flight testing of various designs of aerial vehicles.
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