COMSovereign Holding Corp., a U.S.-based developer of 4G LTE Advanced and 5G Communication Systems and Solutions, released a business update from Chairman and CEO Dan Hodges that included some great news for the company’s presence in Tucson.
The following is an abbreviated version of Hodges’ comments:
To Our Fellow COMSovereign Stakeholders:
Over the last several months, many notable developments have occurred at COMSovereign, and I am writing to you now to update you on the business. Supported by the raise of over $43 million completed in January and February, we are now entering the next growth phase of our strategic plan – the ramp up of commercial production – a stage for which our team has spent the past 18 months preparing.
In this update, I want to share developments underway in production that we are confident will help us to realize the tremendous unrealized value that exists in what we have built.
One important investment we made following our raise of growth capital earlier this year was the purchase of a 140,000 sq. ft. manufacturing facility in Tucson. This facility will serve as the main production center for our advanced DragonWave and VNC radios, InduraPower’s intelligent power supplies and our aerial platform products. The Tucson manufacturing facility and lines are progressing ahead of schedule, with the space for InduraPower fully renovated. Production is online for the current generation of battery units with an expectation to launch production of our next-gen power supplies in the 3rd quarter.
The renovation of space in our Tucson facility for our drone operations is underway with Sky Sapience HoverMast unit production slated to begin in late May, which should allow us to meet domestic demand from both commercial and governmental customers. Until then, sales will be filled by our factory in Israel. Sky Sapience’s Israel-based facility is still producing and advancing new features and disruptive technologies via their dedicated research and development arm. We believe these features are of high interest to government customers.