Cyberlux Corporation (OTCPk:CYBL) stock rose 25.84% at the previous close, reaching $0.056. Volume of CYBL stock was recorded at 237.10 million against the 30-day average volume of 137.63 million. Holders of CYBL stock saw their share value fluctuate from $0.0001 to $0.057 over the past 52 weeks. CYBL stock surged following a partnership for a drone program.
With whom is CYBL partnering?
As a leading innovator in solid-state lighting, Cyberlux provides breakthrough LED products, energy efficiency technology and active technology solutions in the commercial and government sectors, as well as for international markets. As a provider of portable lighting solutions to commercial and industrial users in the United States, CYBL designs, develops, and markets products.
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BrightEye tactical illumination systems and related products are provided by CYBL to meet the lighting needs of a number of military and government organizations, including the US Air Force, the US Army, and the US National Guard. CYBL serves both the Department of Defense and Homeland Security markets. Based in Durham, North Carolina, CYBL was founded in 2000.
A partnership between Cyberlux and Strike Group, LLC was announced on Friday. The partnership aims to drive sales of Cyberlux Infrastructure products such as LED street lighting and solar power, and FlightEye Drone Solutions products.
- Under the terms of the contract, Strike Group will support Cyberlux FlightEye Drone Solutions and Infrastructure products with marketing, sales, contracting, and delivery support.
- As part of the agreement, Cyberlux will also be granted tactical and strategic contracting, access to senior government decision-makers in the emerging UAS (unmanned aircraft systems) market.
- The partnership will also provide CYBL with support for the ongoing development of its technology and solutions by US government organizations.
- The Strike Group will provide support for CYBL’s solution sales to all US government agencies, including the expansion of services to organizations not currently served.
- CYBL will share with Strike Group its significant engineering and product development know-how to establish CYBL as the unmanned aircraft systems market leader, including the patenting of UAS technologies and developing strategic intellectual property.
- CYBL expects to generate more than $20 million in contracted revenue over the first three years of this relationship with Strike Group with this channel delivery partnership.
How this partnership will benefit CYBL?
As part of this exciting channel partnership, Cyberlux (CYBL) has been working closely with Lane and the Strike Group team, to leverage their DoD reach, market knowledge, and delivery capabilities. With FlightEye Drone Solutions launching with Strike Group, CYBL can gain a leading position in UAS systems by utilizing their vast aviation market experience.