Bladeranger (TASE: BLRN), which develops cleaning technologies and software solutions for monitoring and analyzing solar energy fields, reports that Propeller Drones has concluded a framework agreement with Electra (TASE: ELTR). As part of the new service agreement, the first of its kind, Propeller Drones will use Bladeranger’s unique cleaning technology to clean Electra's solar energy fields.
Bladeranger estimates that revenue from the framework agreement will amount to about NIS 1 million and could expand significantly based on the number of solar energy fields that will be added to the agreement. The current agreement relates to providing services for solar energy fields, which produce 30 megawatts out of Electra’s portfolio, which is estimated at hundreds of megawatts.
Bladeranger has an exclusive distribution and cooperation agreement with Propeller Drones in Israel, for marketing and deployment of its unique cleaning payload designed for use with commercial drones, as part of Bladeranger’s 30% revenue share agreement with Propeller Drones.
Bladeranger Chairman Hagay Climor said," The agreement comes after a significant period of field trials and joint work by the two companies. The collaboration with Propeller Drones has proven itself to create important business opportunities with leading solar energy organizations in Israel. This agreement has significant potential for additional solar fields and holds strategic importance in realizing growth potential for our two companies. In addition, the agreement allows each of the companies to deliver its forte to our clients - Bladeranger’s advanced technologies with Propeller Drones commercial, marketing and operational competencies.
Propeller Drones CEO Itamar Kohali added, "The strategic cooperation between Propeller Drones and Bladeranger continues to move forward as anticipated, yields results and creates value. I am enthusiastic with the execution of the service agreement with Electra, which is one of the opportunities that we are currently promoting and we see this as a significant stage in the revolution led by Propeller Drones is leading in the drone services industry in general and more specifically in the solar energy industry, through the integration of autonomous aircraft with advanced technological capabilities with greater efficiency, major savings in resources and real economic value for our customers."
Kohali continued, "In parallel to delivering these services, Propeller Drones and Bladeranger are examining other geographies for our joint work. We continuously and constantly strive to upgrade our operational and technological capabilities, respectively, enabling ongoing improvements in the quality and speed of panel cleaning, thus laying the foundation for the ongoing significant expansion of the activity."
Published by Globes, Israel business news - en.globes.co.il - on November 18, 2024.
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