Ondas Holdings Inc. (ONDS)

A. Company Overview

Ondas Holdings Inc. operates as a leading provider of private wireless, drone, and automated data solutions. The company's wholly-owned subsidiaries include Ondas Networks Inc., American Robotics, Inc. (AR), and Airobotics, Ltd. Ondas Holdings acquired American Robotics on August 5, 2021, and Airobotics on January 23, 2023. These subsidiaries operate together under the Ondas Autonomous Systems business unit and cater to various industries such as rail, energy, mining, agriculture, public safety, critical infrastructure, and government markets. Ondas Networks and Ondas Autonomous Systems are managed as separate business segments.

B. Ondas Networks

Ondas Networks provides wireless connectivity solutions for mission-critical Industrial Internet of Things (MC-IoT) applications. Their wireless networking products serve industries like rail, electric grids, drones, oil and gas, public safety, homeland security, and government. The company's flagship product, FullMAX, is a patented Software Defined Radio (SDR) platform that offers secure, licensed, private, wide-area broadband networks. FullMAX systems are installed by customers to upgrade and expand their existing network infrastructure. Ondas Networks' MC-IoT intellectual property forms the core of the IEEE 802.16s standard, endorsed by the Institute of Electrical and Electronics Engineers (IEEE). The company's software-based FullMAX platform enables improved data throughput, networking capabilities, and efficient utilization of network capacity using "Fog-computing" capabilities.

C. Ondas Autonomous Systems

Under the Ondas Autonomous Systems business unit, the company focuses on designing, developing, and marketing commercial drone solutions. The two main product offerings are the Optimus System™ and Scout System™. These highly automated, AI-powered drone systems are used for continuous, remote operation in critical industrial and government applications. The systems provide services such as emergency response, mapping, surveying, and inspection in industries like public safety, security, smart cities, oil & gas, rail, and ports. The Optimus System™ is marketed as a turnkey data solution under a Data-as-a-Service (DaaS) business model. Some customers choose to purchase and operate the Optimus Systems™. American Robotics and Airobotics have obtained regulatory approvals, allowing automated operation beyond-visual-line-of-sight (BVLOS) without a human operator on-site. Ondas Holdings acquired Iron Drone to offer the Raider™ counter-drone system, which detects, tracks, and intercepts unauthorized or hostile unmanned aircraft.

D. Partnership With Siemens

Ondas Networks has a strategic partnership with Siemens Mobility, a global leader in transportation solutions. Together, they market Ondas Networks' FullMAX-based networking technology and jointly develop wireless communications products for the North American Rail Industry. Siemens is responsible for driving the technology's acceptance and sales in the rail market. The collaboration has resulted in the development of dual-mode ATCS/MC-IoT radio systems, which support Siemens' Advanced Train Control System (ATCS) protocol and the MC-IoT wireless system. Siemens markets and sells these systems under the brand name Airlink. The partnership has expanded to target opportunities in North American Transit Rail, European Rail, and Asian Rail markets.