Palladyne AI Corp (NASDAQ: PDYN) shares flew on Tuesday after the software developer announced that it had completed the first phase of a major contract with the U.S. Air Force. Specifically, the Air Logistics Complex at the Warner Robins Air Force Base in the southern state of Georgia.
This US$13.8-million-dollar contract was initiated last fall when Paladyne was still known as Sarcos Technology and Robotics Corporation. The company changed its name and ticker symbol in March to reflect its enhanced focus on artificial intelligence. It has been collaborating with the American military for many years.
During the four-year contract’s first phase, Palladyne was able to demonstrate that its “Palladyne IQ” AI software was capable of making robots smart enough to autonomously maintain aircraft at the base. This helped to increase efficiency significantly.
“The software has successfully shown the ability to autonomously prepare contoured surfaces using sanding and media blasting techniques and has delivered high-value to our repair and maintenance operations in a short amount of time,” Warner Robins robotics engineer, Shane Groves, said in a news release.
The contract’s next phase will see that Palladyne’s software is integrated to help the “Guardian” line of robots perform more complex tasks.
“In Phase II of the contract, Palladyne IQ software will be used in preparation of complex, high-value aircraft components of varying types and sizes via detection, identification, and surface mapping to maintain the correct distance and angle for optimal application of surface preparation materials,” the company explained.
Before shifting its focus to AI in late 2023, Palladyne focused on robotics systems used to reduce physical strain on workers. These include the Guardian XO exoskeleton, which enables users to effortlessly lift objects weighing up to 200 pounds. Also, the remotely operated Guardian GT robot, a device capable of lifting up to 1,000 lbs with each arm.
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Palladyne provides software for Red Cat’s drones
Red Cat Holdings Inc (NASDAQ: RCAT) will be utilizing Palladyne’s Pilot software program to enhance the capabilities of its Teal drone line. The companies announced their partnership on Oct. 1.
“The partnership will expand the drone system capabilities,” Red Cat explained, “facilitating the creation of a network of collaborating drones and sensors that self-orchestrate to provide superior intelligence, surveillance, and reconnaissance capabilities.”
Red Cat’s chief technology officer says the Pilot software makes drones much more adaptable in challenging environments.
Palladyne and Red Cat will be sharing a booth at this year’s Association of the United States Army (AUSA) Annual Meeting & Exposition in Washington D.C. This event will be held from Oct. 14-16.
“Together, we’ll be talking about how AI, aerial intelligence, and advanced communication networks are redefining the battlefield and enabling new levels of situational awareness,” Palladyne described in a LinkedIn post.
rowan@mugglehead.com