Envirotech Vehicles, Inc. (EVTV) announced it has secured deposits for 80 heavy‑capacity drones, with 40 units each from Studio di Agronomia Baffetti of Siena, Italy, and Venture Air Solutions Inc. of Opa‑Locka, Florida. The deposits, valued at an average of $75,000 per drone, represent a record‑breaking commitment that positions EVTV to enter the growing industrial‑grade UAV market.
The agreement comes as the European Union implements Regulation (EU) 2019/947 and Italy’s Ente Nazionale per l’Aviazione Civile (ENAC) framework, which together enable large‑scale agricultural and industrial drone operations across the EU. By securing these deposits, EVTV gains immediate access to a market that is opening up to beyond‑visual‑line‑of‑sight operations, higher altitudes, and precision‑agriculture applications, all of which are now regulated under the new EU and ENAC rules.
EVTV’s move into drones follows a period of financial strain, with the company reporting negative margins and a high debt‑to‑equity ratio. The drone division offers a potential lifeline: management projects production capacity of 250 units per month by the third quarter of 2026 and revenue exceeding $150 million by the fourth quarter of 2027. The company also targets FAA Stage II certification by the second quarter of 2026, underscoring its commitment to regulatory compliance in both the U.S. and Europe.
Studio di Agronomia Baffetti’s Managing Partner, Francesco Baffetti, praised EVTV’s compliance and said the partnership places them at the forefront of precision agriculture: “EVTV’s heavy‑capacity aircraft meet the new European standards for power, payload, and precision, and that’s why we’re investing heavily now.” Venture Air Solutions CEO Jonathan Jackson echoed this sentiment, calling the drones a “game changer” for the industry.
The deposit agreement diversifies EVTV’s revenue streams and could stabilize cash flow, but success hinges on meeting regulatory milestones and scaling production. While the company’s core electric‑vehicle business remains under pressure, the drone venture could offset losses if execution meets the ambitious targets set by management. No immediate market reaction data are available, but analysts note that the expansion signals a strategic pivot toward a one‑stop shop for electric mobility solutions across land, air, and potentially sea.
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