Wpadington/iStock via Getty Images
- Jeffs’ Brands (NASDAQ:JFBR) Friday announced the signing of an additional non-binding letter of intent with Sky Growth Partners to invest in laser-based wireless charging technology systems, for the remote charging of drones and unmanned aircraft.
- Under the LoI, Sky Growth would establish and transfer all of its rights in the technology to a new Israeli company that will develop, manufacture and market the technology.
- Following an investment of $2.5M by Jeffs’ Brands, it will hold a 70% stake in NewCo.
- NewCo plans on developing a technological system based on a pending patent that would enable wireless charging for drones and unmanned aircraft.
- Source: Press Release