Envirotech Vehicles, Inc. (EVTV) has moved its AG Drone Inc. division from prototype to full‑scale production, having secured deposits for 80 heavy‑capacity drones from Studio di Agronomia Baffetti and Venture Air Solutions. The company is now executing the production and certification phase while advancing through Federal Aviation Administration (FAA) and Ente Nazionale per l’Aviazione Civile (ENAC) certification processes, a prerequisite for commercial deployment in the United States and Italy.
The milestone arrives against a backdrop of persistent financial strain. In Q2 2025, EVTV reported revenue of $1.05 million and a net loss of $5.15 million, while Q1 2024 sales were $810,490 with a net loss of $4.532 million. The company’s market capitalization sits at $4.17 million and has been trading near its 52‑week low. Despite these challenges, the drone program is projected to generate more than $150 million in revenue by Q4 2027, offering a potential high‑growth revenue stream that could offset the company’s current losses.
Strategically, the drone initiative is part of EVTV’s broader diversification plan announced in May 2025, which also introduced electric watercraft. The heavy‑capacity drones target the agricultural and industrial markets, which are expected to reach $1.76 billion in the U.S. by 2030 and $58.4 billion globally by 2030. By aligning with new European drone regulations, EVTV positions itself to capture a share of this expanding market while reinforcing its multi‑modal electric mobility ecosystem.
Management emphasized disciplined execution. COO Elgin Tracy said, “We’re moving from paper to production. The 80 deposits confirm overseas demand for our heavy‑capacity platform, and now it’s about disciplined execution—FAA and ENAC certification, manufacturing ramp‑up, and on‑time delivery.” Dr. Francesco Baffetti, Managing Partner of Studio Baffetti, added, “The European market is opening to heavy‑capacity agricultural and industrial drones, and our partnership with EVTV places us at the center of that movement.”
Investors responded positively to the announcement, with analysts noting the significance of the deposits and regulatory progress as key drivers of the drone program’s commercial potential. The milestone signals a tangible step toward revenue generation and diversification, though the company’s ongoing financial challenges remain a consideration for stakeholders.
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