ZenaTech's stock is experiencing an uptick today following the announcement that its subsidiary, ZenaDrone, is developing a gas-powered version of the ZenaDrone 1000. This new model is being tailored for the US Defense and NATO markets, promising longer flight times and higher payload capacities, which are crucial for long-endurance missions such as reconnaissance and border patrol. The company plans to submit a proposal to the US Air Force's SBIR Long-Duration Aircraft Program, aiming to secure federal contracts and commercialization opportunities. This development is seen as a strategic move to enhance ZenaTech's presence in the defense sector, potentially opening up new revenue streams.
The ZenaDrone 1000, known for its autonomous multifunction capabilities, has already completed trials with the US Air Force and Navy Reserve for logistics applications. ZenaTech's plans to manufacture these drones in Arizona, while ensuring compliance with NDAA and Blue UAS certifications, further solidify its commitment to meeting US Department of Defense requirements. This progress in the defense sector is likely contributing to positive investor sentiment, as it aligns with ZenaTech's strategy to expand its operational efficiencies and cost savings across various sectors.
ZenaTech's stock is currently priced at $5.35, reflecting a 1.79% increase from the previous close of $5.26. Despite being early in the trading day, the volume is relatively low at 191,766 shares, representing just 3.31% of the average daily volume of 5,795,603.