ZenaTech, Inc. (NASDAQ:ZENA) shares are trading lower on Tuesday.
The firm, which gained almost 400% in the past month, is making significant moves toward expanding its drone-based operations through signing of a Letter of Intent to acquire a third land survey engineering company.
Located in the Western U.S., the acquired company will integrate drones into land surveys, particularly for wildfire management and fire prevention on Native American reservations.
The company plans to use its ZenaDrone 1000 and IQ series drones, alongside Quantum Computing, to handle large datasets essential for fire management and land surveying.
This move is part of ZenaTech's broader vision to establish a national Drone as a Service business, leveraging AI-driven drones and Quantum Computing to innovate in sectors like land surveying, fire management, and search-and-rescue.
Also Read: Quantum Computing Meets Drones: ZenaTech Launches Sky Traffic Project For Traffic, Weather Optimization
CEO Shaun Passley emphasized the importance of this acquisition in addressing the specific needs of Native American groups, particularly in the Western U.S., who have expressed interest in using drones for fire management across vast areas, sometimes spanning 300 square miles.
"Having received multiple requests from Native American groups, we look forward to applying advanced technologies like AI and Quantum Computing to practical and sought-after use cases such as fire management," Passley added.
With Quantum Computing set to enhance the capabilities of its drones, ZenaTech said it is positioning itself in the AI-powered, large-scale drone applications.
Additionally, the company's Sky Traffic project, combining AI drones with Quantum Computing for traffic and weather forecasting, signals the broader potential of these technologies.
Through its DaaS model, ZenaTech offers businesses a flexible, pay-as-you-go solution to incorporate drones for critical applications like land surveying, surveillance, and more.
Price Action: ZENA shares are trading lower by 8.76% to $7.08 at last check Tuesday.
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