SKYX Technologies Provides Business Update Including 5 Additional Patents Issued In The U.S. And International Markets
Portfolio Pulse from Benzinga Newsdesk
SKYX Technologies has announced the issuance of 5 additional patents in the U.S. and international markets, adding to the 3 patents announced two weeks ago. The company is pushing for a mandatory safety standardization with the National Electrical Code (NEC) for its ceiling outlet receptacle. The company's code team, led by industry veterans Mark Earley and Eric Jacobson, has submitted significant supporting data regarding hazardous incidents due to electrical wire installations. The company's cash and equivalents totaled $23.7 million as of June 30, 2023. SKYX has also signed an agreement with Material Bank, a leading product material supply company.
September 21, 2023 | 12:37 pm
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SKYX Technologies has secured 5 additional patents and is pushing for safety standardization for its product with NEC. The company's financial position is strong with cash and equivalents of $23.7 million. It has also signed a deal with Material Bank.
The issuance of additional patents strengthens SKYX's intellectual property portfolio, potentially giving it a competitive edge. The push for safety standardization could lead to wider acceptance and use of its products. The strong financial position provides stability and the deal with Material Bank could open up new opportunities.
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IMPORTANCE 80
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