Safe Pro Group Inc. (NASDAQ:SPAI) shares are trading higher after the company announced it received a Notice of Allowance from the United States Patent and Trademark Office (USPTO). The notice is about the company's novel technology, SpotlightAI. It is an Amazon Web Services cloud-based platform that uses advanced machine learning to identify, locate and map explosives based upon processed drone imagery.
What To Know: The Notice of Allowance reaffirms the company's 21 claims within the patent application titled "Systems and Methods for Detecting and Identifying Explosives." The next step will award Safe Pro Group a formal patent.
Also, the company filed for global patent protection with the World Intellectual Property Organization, which covers patent protection rights in 157 countries.
"With strong patent protections from the USPTO and anticipated global protections from national phase filings under the PCT application, we are extremely well-positioned to maximize the value of our SpotlightAI IP," said Dan Erdberg, Chairman and CEO of Safe Pro Group Inc.
"Through potential collaboration with global leaders in humanitarian mine action, national defense and government technology, we believe we have the opportunity to make a positive impact on the lives of civilians around the globe for decades to come."
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SPAI Price Action: At the time of writing, Safe Pro Group stock is trading 16.8% higher at $3.67, according to data from Benzinga Pro.
Image: Tung Lam from Pixabay
