Duke Robotics Announces the Formation of Greek Subsidiary to Serve as a Platform for Civilian Market Growth in Greece

Duke Robotics Hellas, Duke Robotics’ new Greek subsidiary and its first branch in Europe, aims to provide a platform for Duke Robotics to expand the market penetration of its IC Drone technology; Greece is investing significantly in infrastructure, with over $32 billion in EU funding allocated for energy-related projects

/EIN News/ -- FT. LAUDERDALE, FL, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Duke Robotics Corp. (OTCQB:DUKR) (“Duke Robotics” or the “Company”), a leader in advanced robotics technology and autonomous drone solutions, today announced that, further to its prior announcement from January 14, 2024, the Company has established “Duke Robotics Hellas I.K.E.” (“Duke Robotics Greece”), a wholly owned subsidiary in Greece. This initiative represents a strategic step forward in the Company’s commitment to expanding its operations within the civilian sector.

Duke Robotics Greece will serve as a platform for promoting and deploying the Company’s innovative IC Drone technology, as well as other potential applications of the Company’s technologies and capabilities in the Greek market. The subsidiary will enhance the Company’s ability to address the needs of the Greek market and aims to capitalize on Greece’s dynamic infrastructure development, which prioritizes sustainable and efficient solutions for utility maintenance.

Greece has emerged as a strategic market for technology and infrastructure solutions. The country has received over $32 billion in European Union funding to support energy-related projects, including modernization of its electricity systems and interconnectors¹. Furthermore, Greece is targeting 82% electricity generation from renewable energy by 2030², highlighting the importance the country places on efficient sustainable technologies like Duke Robotics’ IC Drone.

Yossef Balucka, Chief Executive Officer of Duke Robotics, commented, “The establishment of Duke Robotics Hellas underscores our dedication to broadening our global footprint. Greece presents a promising market with significant opportunities for our IC Drone technology to transform utility maintenance operations. By setting up a localized presence, we aim to better position ourselves to penetrate this growing market and create value for both our customers and stakeholders.”

The IC Drone, developed by Duke Robotics, has already demonstrated its capabilities through successful deployments with the Israel Electric Corporation, offering a safer, cost-effective, and environmentally sustainable alternative to traditional methods for high-voltage insulator maintenance.

About Duke Robotics Corp.

Duke Robotics Corp. (formerly known as UAS Drone Corp) is a forward-thinking company focused on bringing advanced stabilization and autonomous solutions to both military and civilian sectors. Through its wholly owned subsidiary, Duke Robotics Ltd., the company developed TIKAD, an advanced robotic system that enables remote, real-time, and accurate firing of lightweight firearms and weaponry via an unmanned aerial platform (UAV) designed to meet the growing demand for tech solutions in modern warfare. Duke Robotics Ltd. Also developed the IC Drone, a first-of-its-kind robotic, drone-enabled system for cleaning electric utility insulators. The unique system, based on the Company's advanced intellectual property and know-how, integrates algorithms, autonomous systems, and robotic technologies used in mission-critical applications.

For more information about Duke Robotics Corp (Previously UAS Drone Corp) please visit www.dukeroboticsys.com or view documents filed with the Securities and Exchange Commission at www.sec.gov.

Forward-Looking Statements
This press release contains forward-looking statements. Words such as "future" and similar expressions, or future or conditional verbs such as "will," are intended to identify such forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on our beliefs, assumptions, and information currently available to us. For example, we are using forward-looking statements when we discuss Duke Robotics Hellas I.K.E. future activities, including promoting and deploying the Company’s IC Drone technology, as well as other potential applications of the Company’s technologies and capabilities in the Greek market; future opportunities for the Company’s IC Drone technology in the Greek market; creating future value for both the Company’s customers and stakeholders; and that Duke Robotics Hellas I.K.E. will further enhance the Company’s ability to address the needs of the Greek market. Our actual results may differ materially from those expressed or implied due to known or unknown risks and uncertainties. These include, but are not limited to, risks related to the successful market adoption of the IC Drone, the continued development and refinement of our technology, fluctuations in foreign currency exchange rates, operational challenges associated with entering new markets, economic conditions that may affect infrastructure investment, geopolitical factors that could impact business operations, regulatory challenges in Greece or other regions, and competition from technological advances. For additional information on these and other risks and uncertainties, please see our filings with the Securities and Exchange Commission, including the discussion under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and any subsequent filings with the Securities and Exchange Commission. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Company Contact:

Duke Robotics Corp.
Yossef Balucka, CEO
invest@dukeroboticsys.com

Capital Markets & IR:

ARX | Capital Markets Advisors
North American Equities Desk
DUKE@arxadvisory.com

¹ https://www.trade.gov/country-commercial-guides/greece-infrastructure

² https://www.reuters.com/sustainability/greeces-new-climate-plan-sets-more-ambitious-renewable-energy-goals-2024-10-11