Boumarang, an innovative technology firm, has successfully acquired the cutting-edge maritime drone technology known as Wavedrone from Shore House IVF, a technology company based in the picturesque Faroe Islands. This acquisition, valued at an impressive $3.5 million, marks a significant milestone for Boumarang as it seeks to diversify its operations beyond its traditional aerial offerings.

Wavedrone is an advanced autonomous drone platform specifically tailored for maritime environments. It features the capability to conduct both above-water and subsurface filming, which opens up a plethora of possibilities for various applications. These include enhancing marine observation efforts, executing vital search and rescue operations, and facilitating comprehensive environmental monitoring in aquatic ecosystems.

The strategic acquisition of Wavedrone not only allows Boumarang to broaden its service offerings but also aligns with its mission to leverage technology for social good. Boumarang plans to utilize Wavedrones capabilities to expand into several key sectors, including environmental monitoring, media and entertainment, search and rescue, and aquaculture. This expansion reflects Boumarang's commitment to addressing pressing global challenges through innovative technology.

Danial Hoydal, director of Shore House IVF, expressed his enthusiasm about the acquisition, stating, This acquisition aligns with our mission to lead in autonomous, sustainable solutions. Boumarangs vision and capabilities position Wavedrone for rapid commercialisation and global deployment. His remarks highlight the collaborative spirit behind this deal and the expectation of significant progress in the maritime drone sector.

In a related development that underscores Boumarangs growing reputation in the technology arena, BioKey International has recently made a notable investment by acquiring five million shares in Boumarang. This transaction grants BioKey a substantial 20% stake in Boumarangs issued and outstanding shares. The partnership aims to bolster Boumarangs financial health and visibility in the market while providing BioKey with access to Boumarangs pioneering advancements in drone technology.

Adding to the momentum, Boumarang has also formed a partnership with Trust Stamp, a company that specializes in AI technologies. In August 2024, the two firms agreed to integrate Trust Stamp's sophisticated AI solutionssuch as computer vision and data tokenisationwith Boumarang's hydrogen-powered unmanned aerial vehicle (UAV) systems. This agreement includes a non-exclusive license that allows Boumarang to utilize Trust Stamps AI technologies with its hydrogen-powered drones. The arrangement involves a one-time fee of $5 million, which will be compensated through pre-paid common stock warrants, further enabling Trust Stamps equity participation in Boumarang.

The acquisition of Wavedrone and the partnerships with BioKey and Trust Stamp illustrate Boumarangs strategic approach to harnessing cutting-edge technology to expand its operational capabilities and address critical issues in the maritime and aerial sectors. As these developments unfold, they signal a dynamic shift in how technology can be leveraged for environmental sustainability and operational efficiency.