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UVAD Receives Investment from RTX’s Raytheon for Next Generation Supersonic UAV

Investment made possible by Canadian Industrial and Technological Benefits Program (ITB)

UVAD Technologies Inc. (UVAD) is announcing it has signed an agreement with Raytheon, an RTX business, under Canada’s ITB program for a multi-million dollar investment. The funding will support a multi-year program to commercialize and deliver Falcon, the world’s first affordable, threat representative, subscale supersonic Uncrewed Aerial Vehicle (UAV) target.

The supersonic Falcon UAV will address a significant global capability gap in supersonic defence threat representation, Test & Evaluation, and live-fire training applications. This investment will also allow UVAD to position itself into other significant opportunities for the Falcon in the growing defence and commercial UAV markets.

Canada’s ITB Policy contractually requires companies awarded defence procurement contracts to undertake business activity in Canada equal to the value of the contracts they have won. Innovation, Science and Economic Development (ISED) is responsible for administering the ITB Policy and leverages defence procurements over $100 million to contribute to jobs, innovation, and economic growth across the country.

“We are extremely pleased to be an official partner with Raytheon to commercialize and deliver the world’s first affordable supersonic UAV- Target,” said David Birkett, President and CEO of UVAD. “The investment from Raytheon is a key component of our overall funding program, and combined with our in-house world-class Supersonic and Hypersonic engineering skillsets, will help ensure the success of Falcon.”

“Collaborating with UVAD is an excellent opportunity for Raytheon to support further development of the Falcon UAV,” said Garry Venman, Chief Executive Raytheon Canada. “Given the evolution of what we are seeing in ongoing conflicts around the globe, it is essential that Canada and its allies have representative threats to train against.”

“Canada’s defence and aerospace industries are world class and a huge benefit to the Canadian economy. Through Canada’s Industrial and Technological Benefits Policy, this investment from Raytheon will enable UVAD Technologies to address a significant global capability gap by commercializing and delivering an affordable supersonic Uncrewed Aerial Vehicle target. This will advance Canada’s leadership in the defence and aerospace industries, contribute to economic growth, and create high-value jobs”, said The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry.

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