Ondas Networks names Markus Nottelmann as new CEO By Investing.com

SUNNYVALE, CA – Waves Holdings Inc. (NASDAQ:) a $202.5 million market cap company specializing in private wireless networking and drone solutions, announced the appointment of Marcus Notelman as Chief Executive Officer of its subsidiary. As the stock has seen significant momentum, posting a 110% gain over the past six months, Notelman, who is on the board of Ondas Networks, said. Since October 2024, he has been contributing to the company as a senior advisor, focusing on commercial development and strategic activities.

With a background in strategic finance and operational roles, Nottelman brings extensive experience in the rail industry to his new role.His career includes leadership positions at Sperry Rail Service and Acuren Inspections, subsidiaries of Rockwood Holdings, LP, as well as Furmanite Inc. and DMA Srl since 2020, Nottelman has used his experience as a strategic CFO, guiding companies through strategic assessments, transformations. , and achievements. By: InvestingPro: His appointment comes at a crucial time as the company faces cash burn and profitability challenges with a weak financial health score of 1.34, according to the data.

In his announcement, Nottelman expressed enthusiasm for Ondas Networks’ advancement at an important time in the technology evolution of the rail ecosystem, highlighting the company’s innovative dot16 wireless platform and growing pipeline of capabilities.

Eric Brock, chairman and CEO of Ondas Holdings, endorsed Nottelman’s appointment, citing his financial and strategic acumen as well as his leadership skills. and market development investments.

Ondas Holdings operates through its subsidiaries Ondas Networks and Ondas Autonomous Systems Inc., which includes American Robotics, Inc. and Airobotics LTD. Ondas Networks develops proprietary, software based wireless broadband technology to support mission-critical IoT applications in a variety of industries. Ondas Autonomous Systems specializes in autonomous drone solutions for critical defense, infrastructure, industrial and government. for applications.

This news article is based on a press release from Ondas Holdings Inc. and does not include any additional analysis or commentary. The information presented here is for informational purposes only. For a comprehensive analysis of Ondas Holdings, including 17 additional ProTips and detailed financial indicators, visit InvestingPro:where you’ll find expert insights and in-depth research reports covering over 1,400 US stocks.

In other recent news, Ondas Holdings Inc. is actively strengthening its financial position and expanding its operations.The company issued $18.9 million in Series B-2 Senior Convertible Notes and secured an additional $1.7 million in private equity financing in December raising a total of $30 million from the start.These funds are mainly directed towards the expansion of the drone business, Ondas Autonomous Systems (OAS), despite a difficult third quarter in 2024, where revenues fell to $1.5 million from $2.7 million last year.

Ondas also announced the appointment of Ron Stern: (AS:) to its Board of Directors, a move expected to impact the growth of its OAS business unit. Stern brings more than two decades of experience in growth equity and venture capital, having held leadership positions at OurCrowd and Shamrock Holdings. whose experience in active financing and mergers and acquisitions is seen as an asset to the company’s strategic initiatives.

The company has also made significant progress in drone operations, with its subsidiary, American Robotics, obtaining an additional Federal Aviation Administration (FAA) Beyond Visual Line of Sight (BVLOS) waiver that allows it to expand drone operations. Furthermore, Ondas secured a defense order for its AI drone, the Iron Drone Raider, with pre-orders in the defense market totaling approximately 14.4 million dollar

These transactions and strategic developments were facilitated by Oppenheimer & Co. Inc., which in some cases acts as the sole placement agent.Despite these positive steps, Ondas faces challenges in terms of profitability and financial performance, indicating the need for close monitoring of its growth trajectory are the latest developments in the activity.

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