Port St. Joe, Florida, July 23, 2020 (PR-Newswire) -- Han Tang Technology, Inc. (OTC Markets: HTTI) announces it has applied to OTC and FINRA for a name change to UAV Corp, Inc. to better reflect the direction of the company. The company has also received a significant $1.032 million dollars in grants to support infrastructure improvements at the company’s Costin Airport at Port St Joe Florida.
The new name change to UAV Corp, Inc. (“UAVC”) will be a strategic fit as it defines the corporate business model and focuses on the technology for manned and unmanned tether-airship and communication packages. The company has submitted the name change to FINRA and upon its approval, will trade under the new name and assigned ticker on the OTC Markets.
UAVC’s subsidiary Skyborne Technology Investment Properties, Inc., owner of Costin Airport in Port St. Joe, Florida recently passed its annual inspection for manned and unmanned operations. UAVC’s subsidiary Skyborne Technology’s new SA70-12 detachable tether-airship (DATT), is a seven-story aircraft that acts as an airborne carrier for drones. Plans for initial flight testing will begin in fall of this year. “We are excited to be edging up on the completion of this innovative airship. This will be the first of its kind currently under construction at our facility in Gulf County, Florida. The first mission(s) for this innovative new airship is a Disaster Relief Aerial Platform that will be used specifically for communication and engagement. We are pleased to direct you to the newly launched website for updates on our progress and growth: www.uavcorp.net ”, stated Michel Lawson, CEO of UAV Corp.
The planned Hanger at the Costin Airport was recently approved by the Gulf County Planning and Development Board, It will be 300’ in length and 96’ high hanger/office building, when completed will be the tallest building in the Gulf County. Construction of the new hangar facility will commence after the final architectural drawings are filed and approved with Gulf County. Once funded, UAV Corp’s investment in this project is estimated to be over $5,000,000. Further, STI has selected well known, Legacy Building Solutions, Inc. to design and provide the unique building materials for the new hangar facility. The General Contractor for the project is ReliantSouth Construction Group of Panama City. “This has been unique partnership with the Gulf County government to win approval on two matching fund grants totaling $1.032 million. These funds will be utilized for new infrastructure at Costin airport, which will include utilities, roads and site improvements. This will positively affect property tax improvements, employment and future complimentary business opportunities for the Gulf region”, stated William Robinson, Chairman of UAV Corp.
Other grants and contracts are under negotiations to partner with the area colleges and businesses to develop emergency response systems and the training programs necessary to deploy the tether-airship (DATT) system.
About Han Tang Technology, Inc. (UAV CORP)
UAV Corp formerly Han Tang Technology, Inc., (HTTI) is a Research and Development holding company with a focus on Communication Aerospace and Environmental Solutions. Researchers at HTTI are actively engaged in solving transformative problems for the government and commercial clients. We are working on a wide range of topics including but not limited to advanced communication, Airship and Drone Technology and low altitude analysis of carbon dioxide (CO2) conversion, new energy processes, biomass conversion, energy efficiency crop and mining management.
About R Squared Technologies, Inc.
R Squared Technologies, Inc., (“R2”), a technology company that has developed the SENTINEL a man portable communication network between wired and Wi-Fi enabled devices within a secure network. It can be used for both defense and emergency management applications. The SENTINELprovides an immediate command and control network and provides a communication solution in response to a variety of adverse circumstances, including severe weather, natural disasters, power outages or even a hostile attack.
About Skyborne Technology, Inc.
UAV Corp’s wholly owned subsidiary Skyborne Technology, Inc. has significant investments in research & development of Intellectual Property and proprietary designs in areas covering semi-rigid and rigid airship design, reverse-ballonet technology, mooring and hybrid propulsion that has competitive advantages for both its Spherical and Cylinder Class tether/airship designs. Skyborne Technology has a manufacturing facility in Wewahitchka, Florida and recently acquired the airport in Port St. Joe, Florida for manned and unmanned operations.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain "forward-looking statements" under applicable US securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals, where applicable and the state of the capital markets. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.