CINCINNATI, Sept. 20, 2017 /PRNewswire/ -- Workhorse Group Inc. (WKHS), an American technology company focused on providing electric mobility solutions to the transportation sector, today announced that it will demonstrate the HorseFly™ drone package delivery system at the PACK EXPO at the Las Vegas Convention Center, September 25-27, 2017 (Booth #645).
The Workhorse HorseFly™ Unmanned Aerial Vehicle Delivery System is a carbon fiber, high-efficiency octocopter delivery drone that is fully integrated with Workhorse's line of electric/hybrid delivery trucks.
In the PACK EXPO demo, the HorseFly will launch from the roof of an electric delivery truck and deliver a package to mock houses in the 15,000-square-foot exhibit area in the North Hall. After the delivery, the lithium polymer battery-powered HorseFly will return to the truck to dock and recharge. Demonstrations will occur regularly during each day of the show. A camera mounted on the HorseFly will give visitors a drone's eye view of the exhibit hall and its delivery route.
The patent-pending truck and drone HorseFly package delivery system is compliant with all current FAA regulations. It can carry a package weighing up to 10 pounds with an energy cost of approximately $.03 per mile for electricity.
Earlier this year, UPS and Workhorse successfully tested residential package delivery by autonomous drone from atop an electric UPS step van also built by Workhorse. The delivery demonstrates the improved efficiencies drones can provide on rural delivery routes, while reducing vehicle emissions. This technology could save time and reduce costly driver miles.
About Workhorse Group Inc. Workhorse is a technology company focused on providing electric mobility solutions to the transportation sector. As an American original equipment manufacturer, we design and build high performance battery-electric vehicles including trucks and aircraft. We also develop 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 www.workhorse.com.
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 maintain our listing of our securities on the Nasdaq Capital Market; 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.
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