SKYX Technologies will supply over 12,000 smart products for Forte Development's luxury projects in Miami, Clearwater Beach, and Jupiter.
Quiver AI Summary
SKYX Platforms Corp. has announced a partnership with Forte Development to supply advanced smart technologies for three luxury projects, including an 80-story building in Miami's Brickell District, two buildings in Clearwater Beach, and a project in Jupiter, Florida. In total, SKYX will provide over 12,000 smart and plug-and-play products, enhancing these developments with features such as ceiling outlet receptacles, lighting, and emergency systems. The collaboration aims to utilize SKYX's innovative technology to improve safety, efficiency, and smart capabilities in new constructions. With more than 97 patents, SKYX is focused on making advanced smart technology the standard in homes and buildings. Deliveries are expected to begin in the second half of 2025, reflecting a growing trend towards integrating smart solutions in luxury real estate.
Potential Positives
- SKYX is being contracted to supply over 12,000 smart and plug & play products for three significant high-end luxury real estate projects led by a reputable developer, Forte Developments.
- The partnership with Forte Developments, known for its high-end luxury projects, positions SKYX to enhance its visibility and credibility in the upscale residential market.
- SKYX's technologies offer opportunities for recurring revenues through upgrades, monitoring, and subscriptions, indicating a stable and scalable business model.
- The press release highlights the potential for SKYX’s technologies to establish a new standard in construction safety and efficiency, aligning with industry trends towards smart technologies.
Potential Negatives
- Forward-looking statements highlight significant risks and uncertainties related to the company's ability to launch and commercialize its products, integrate technologies, and achieve market acceptance, which could impact confidence among investors and stakeholders.
- The company’s ability to continue as a going concern is noted, raising concerns about its financial stability and long-term viability.
- No established track record or specifications of successful past projects that exemplify the effectiveness and reliability of the technologies being supplied, which may lead to skepticism regarding their performance in these new developments.
FAQ
What luxury projects will SKYX be supplying?
SKYX will supply products for an 80-story building in Miami, two buildings in Clearwater Beach, and a project in Jupiter, Florida.
How many products will SKYX provide for these projects?
SKYX is expected to deliver over 12,000 smart and plug & play products across the three luxury projects.
When will SKYX start supplying its products?
The supply of SKYX products is expected to begin in the second half of 2025.
What types of products does SKYX offer?
SKYX offers a range of smart products, including ceiling outlet receptacles, lighting, ceiling fans, and emergency lights.
How do SKYX's technologies enhance building safety?
SKYX's technologies improve safety through advanced features and monitoring capabilities, making homes and buildings smarter and safer.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SKYX Hedge Fund Activity
We have seen 26 institutional investors add shares of $SKYX stock to their portfolio, and 28 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CLEAR HARBOR ASSET MANAGEMENT, LLC added 351,300 shares (+inf%) to their portfolio in Q4 2024, for an estimated $407,508
- KESTRA PRIVATE WEALTH SERVICES, LLC added 211,500 shares (+inf%) to their portfolio in Q4 2024, for an estimated $245,339
- PROCYON ADVISORS, LLC added 208,000 shares (+inf%) to their portfolio in Q4 2024, for an estimated $241,279
- Y-INTERCEPT (HONG KONG) LTD removed 164,590 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $139,621
- CONNECTIVE CAPITAL MANAGEMENT, LLC added 132,105 shares (+inf%) to their portfolio in Q4 2024, for an estimated $153,241
- CENTIVA CAPITAL, LP removed 112,600 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $95,518
- BLACKROCK, INC. added 101,168 shares (+14.2%) to their portfolio in Q4 2024, for an estimated $117,354
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
The Three Projects Will Include an 80 Story High-Rise Building in the Miami Brickell District at 1040 South Miami Ave, Two Buildings in Clearwater Beach, and a Project in Jupiter Florida, Totaling Over 400 High-End Luxury Units
SKYX is Expected to Supply Forte Development with Over 12,000 Smart and Plug & Play Products Across Three Luxury Projects, Including Ceiling Outlet Receptacles, Lighting, Ceiling Fans, Recessed Lights, EXIT Signs, Emergency Lights, Downlights, and Indoor/Outdoor Wall Lights
SKYX’s Technologies Provide Opportunities for Recurring Revenues Through Upgrades, Interchangeability, Monitoring and Subscriptions and More
MIAMI, Feb. 20, 2025 (GLOBE NEWSWIRE) -- SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the "Company" or "SKYX"), a highly disruptive smart platform technology company with more than 97 issued and pending patents globally and over 60 lighting and home décor websites, announces that it will start supplying its technologies to Forte Developments’ upcoming high-end luxury projects, including an 80-story building in Miami located at the Brickell district, two buildings in Clearwater Beach and a project in Jupiter, Florida.
Forte Developments is a leading high-end luxury condo and home development company. Forte’s developments include well-known luxury buildings in Palm Beach and Miami, Florida, as well as in The Hamptons, New York, among others.
During the course of the three projects, SKYX is expected to deliver over 12,000 of its products, representing a variety of its advanced and smart platform technology plug & play platform products. SKYX is expected to start supplying its products during the second half of 2025.
Marius Fortelni CEO and Founder of Forte Developments said: “We are excited to develop our ultra-high-end luxury upcoming projects utilizing SKYX’s game-changing advanced, smart, and safe plug and play technologies. I strongly believe that SKYX’s disruptive ceiling platform technologies will become the standard for new construction as they provide smart capabilities, safety and time savings, while adding significant value to our homes and buildings.” Link to Forte’s website here:
https://fortedevelopmentus.com/
Rani Kohen, Founder/Inventor and Executive Chairman, of SKYX Platforms, said: “We are excited to work with a high-end condo developer such as Forte Developers. This is another step toward our goal of making homes and buildings become advanced, safe, and smart as the new standard. We look forward to continuing to demonstrate our advanced smart platform technology’s ability to make homes and buildings become smart and safe instantly, while significantly advancing buildings and saving time and cost to developers.”
About SKYX Platforms Corp.
As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 97 U.S. and global patents and patent pending applications. Additionally, the Company owns over 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at
https://skyplug.com/
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LinkedIn
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Forward-Looking Statements
Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.
Investor Relations Contact:
Jeff Ramson
PCG Advisory
jramson@pcgadvisory.com
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