ASX:NVU

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Nanoveu Reports Up to Nearly 28% Cruise Energy Efficiency Improvement in Live Drone Trials, Shares Down 4%

Nanoveu's (ASX:NVU) live drone evaluation program has delivered highly successful early-stage results, confirming that its ECS-DoT chip can deliver material flight endurance gains in real-world conditions, according to a Monday Australian bourse filing.The company said initial live-flight testing recorded cruise efficiency improvements of up to 27.8% at four meters per second and 26.7% at six meters per second, averaging 27.2% in meters travelled per watt-hour consumed, achieved without any modifications to the drone's battery, airframe, or propulsion system on an open-sourced software platform.The company's shares fell 4% in recent Monday trade.

ASX:NVU

Asia38d ago

Nanoveu to Acquire Singapore-Based Proprietary Drone Technology Firm; Shares Jump 11%

Nanoveu (ASX:NVU) entered into a binding sale and purchase agreement to acquire Spinoff Robotics, a spinout from the Singapore University of Technology and Design, for 3 million fully paid Nanoveu shares and 4 million performance rights, which will convert into Nanoveu shares on meeting certain conditions, according to a Friday Australian bourse filing.The acquisition is subject to due diligence and the receipt of any required regulatory and other approvals. Settlement is slated for completion by Aug. 31.The firm said the transaction will give it access to in-house-developed proprietary drone products as well as the ALICE tethered drone and the METRON sub-millimeter photogrammetry technologies. It plans to prioritize high-value defense and critical-infrastructure applications, integrating EMASS' ECS-DoT edge-AI silicon with Spinoff's drone technology to deliver fully-owned drone platforms.Its shares jumped 11% in recent trading on Friday.

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