AgEagle Aerial Systems Inc (AMEX:UAVS) shares are trading higher Tuesday after the company announced the European Union Aviation Safety Agency issued a Design Verification Report (DVR) establishing that the eBee X meets Ground Risk Class M2 mitigation qualifications.
The eBee X is the industry's first drone to receive a DVR from the European Union agency on M2 mitigation, which paves the way for European drone operators to seek approvals to use the drone to fly missions that go beyond line of sight and conduct operations over people.
"Being the first company to receive this DVR from EASA for M2 mitigation is a historic milestone for AgEagle and our industry in the European Union and will be a key factor in fueling growth of our customer base," said Barrett Mooney, chairman and CEO of AgEagle.
AgEagle is a provider of full-stack drone, sensor and software solutions for commercial and government/defense use.
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UAVS Price Action: AgEagle has traded between $5.73 and 57 cents over a 52-week period.
The stock was up 33.6% at 77 cents at press time, according to data from Benzinga Pro.
Photo: Pexels from Pixabay.
