Global expansion strategy accelerates with focus on commercializing IC Drone technology for safer and sustainable utility infrastructure solutions across Europe.
Duke Robotics Corp. (OTCQB:DUKR) (“Duke Robotics” or the “Company”), a leader in advanced robotics technology and autonomous drone solutions, today announced its plans to establish a wholly owned European subsidiary to support its ongoing global commercialization efforts of its IC Drone. This initiative follows the Company’s initial revenue generation from its IC Drone technology through a service agreement with the Israel Electric Corporation (IEC).
The planned European subsidiary will focus on expanding Duke Robotics’ innovative IC Drone technology, which provides utility companies with a safer, more efficient, and environmentally sustainable solution for maintaining high-voltage electric infrastructure as well as potential other applications of the Company’s technologies and capabilities. The IC Drone’s proven success with the IEC demonstrates its significant market potential for broader deployment across additional regions and sectors.
Duke Robotics is currently in the initial phases of its global expansion strategy and remains focused on leveraging its proprietary technologies to unlock new growth opportunities in the civilian sector. The Company aims to expand its IC Drone service offerings to additional utility providers worldwide while continuing to develop new solutions to address evolving industry needs. The European subsidiary is expected to play a key role in Duke Robotics' long-term strategy, helping the Company establish partnerships and generate additional revenue streams across the region as it advances its strategic goals.
Yossef Balucka, Chief Executive Officer of Duke Robotics, commented, "Our plans to establish a European subsidiary reflect Duke Robotics' cautious yet optimistic approach to global expansion. We believe the IC Drone has significant potential to transform the utility maintenance industry, particularly in regions that prioritize infrastructure modernization and sustainability. Establishing a presence in Europe will help us better serve this growing market and further build our international footprint."