Powerus Company Launches Agriculture Division as Kaizen Aerospace Signs $60 Million Australia-New Zealand Distribution Agreement and U.S. Partnership with Sprig Aerospace

• Aerospread Technologies is now the exclusive distributor for the xFold platform in New Zealand, Australia, and the South Pacific, with sales targets of approximately $60 million or more over five years; Sprig Aerospace is now an authorized U.S. distributor and marketing partner and will fly Powerus xFold^TM aircraft exclusively for its commercial spraying operations.
• The xFold^TM Dragon H1000 has received a Special Airworthiness Certificate in the Experimental category from the FAA.
• Powerus has announced a proposed merger with Aureus Greenway Holdings Inc. (Nasdaq: PUSA); the merger has not closed and remains subject to customary closing conditions, including the effectiveness of a Form S-4 registration statement and applicable regulatory approvals
  
  

WEST PALM BEACH, Fla., July 23, 2026 (GLOBE NEWSWIRE) -- Autonomous Power Corporation dba Powerus, a U.S.-based autonomous systems company building next-generation drone infrastructure for defense and critical infrastructure, today announced, through its wholly owned subsidiary Kaizen Aerospace, Inc., a dedicated agriculture division and two distribution agreements that place its xFold^TM Dragon heavy-lift aircraft with established agricultural operators in Australia and New Zealand.

Kaizen has signed an exclusive agency and distribution agreement with Aerospread Technologies Limited of Napier, New Zealand, a manufacturer of agricultural aerial application equipment with decades of experience building operator relationships across the South Pacific region. Aerospread becomes the exclusive agent for xFold^TM sales and distribution across the Australia and New Zealand markets. Based on Aerospread's projected volumes, sales targets under the agreement represent approximately $60 million in potential product revenue over the first five years, with targets scaling over the agreement's initial years. Sales targets are performance objectives under the agreement rather than binding purchase commitments, and actual orders may differ materially.

In the United States, Kaizen has named Sprig Aerospace, LLC of Benton, Kentucky, an authorized distributor and marketing partner for its xFold^TM series. Sprig runs agricultural drone operations nationwide, from providing aerial spraying services to selling its own spray payload systems and operator network. Going forward, Sprig will standardize its commercial spraying and aerial application fleet on Powerus aircraft, with its spray systems fitted to xFold^TM airframes.

The commercial push comes as the xFold^TM Dragon H1000 clears a major regulatory step. The Federal Aviation Administration issued Sprig Aerospace a Special Airworthiness Certificate-Experimental Category and accompanying Certificate of Waiver of Authorization for the xFold^TM Dragon H1000 for the purpose of research and development for the aerial application configuration. Powerus and Sprig will continue flying under the certificate as the platform advances toward commercial deployment.

"Agriculture has been part of the Powerus vision since day one, and this is the year it becomes a business," said Ziv Marom, Chief Vision Officer, Powerus Labs. "Growers don't need another toy that carries a few liters. They need an aircraft that carries real weight, flies itself, and shows up when the window is open. That's what we built. With Aerospread across New Zealand and Australia, and Sprig across the rest of the world, we now have the people on the ground to put these aircraft in the hands of the operators who need them."

The new Agriculture division is built around the Kaizen xFold^TM Dragon line, autonomous heavy-lift aircraft engineered to carry commercial-scale payloads over extended ranges, enabling a single operator to treat far more acreage in a day than conventional equipment allows. Powerus is entering a market that Grand View Research valued at approximately $3.37 billion in 2025, and projects will reach $21.59 billion by 2033, at a compound annual growth rate of 26.5%, with rotary-wing aircraft holding the largest share and North America the largest regional market.

About Powerus

Autonomous Power Corporation, doing business as “Powerus,” builds and scales unified autonomous systems architecture designed to move, protect, and sustain critical assets in high-risk environments. The company develops next-generation autonomous infrastructure and technologies across defense, critical infrastructure, and precision agriculture. Production is scaled through U.S.-based manufacturing and selected strategic partners to support mission requirements. Kaizen Aerospace, Inc. is a Powerus company. For more information, visit www.power.us.

About Kaizen Aerospace

Kaizen Aerospace, Inc., a wholly owned subsidiary of Autonomous Power Corporation, designs and manufactures the xFold^TM family of modular VTOL platforms powered by xNav autonomous flight systems, including the xFold^TM Dragon heavy-lift line built for precision agriculture, wildfire response, logistics, and industrial operations. Kaizen aircraft are manufactured in the United States.

About Aerospread
Aerospread Technologies Ltd was founded in 2017 by Bruce Peterson, a veteran agricultural pilot with a deep understanding of the industry's challenges and opportunities. What began as a quest to improve the precision and efficiency of aerial application has grown into one of New Zealand's most innovative agricultural aviation companies. Today, Aerospread Technologies operates under two distinct brands: Aerotech UAV handles all operational agricultural aviation services — spreading, spraying, pest control, and more — while Aerospread Technologies Ltd drives the innovation, manufacturing, and technology development that make it all possible. From its purpose-built facility in Hawke's Bay, Aerospread Technologies has achieved a world-first milestone: the xFold H500 (200kg payload) is now the first aircraft of its class to receive full CAA Part 102 certification for unrestricted agricultural operations in New Zealand. This certification—the result of years of integrated experience and meticulous technical development—places a proven, fully autonomous heavy-lift platform for agricultural operators.

About Sprig

Sprig Aerospace is a veteran-owned and operated company developing next-generation aerial-application payloads for use aboard the H1000 and advanced analytics tools for agriculture. Based in America's Heartland of West Kentucky, Sprig Aerospace's motto is "Get. Work. Done." Emphasizing the provision of real solutions for the American farmer using aviation-grade technology.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, regarding the selection for Phase 3 of the xTech Adaptive Strike competition, these statements include, but are not limited to: advancement to Phase 3 and performance therein; the timing, structure, and potential outcomes of Phase 3, including possible prize awards and any potential follow-on contract discussions. As to the proposed business combination between Powerus and Aureus Greenway Holdings Inc., these statements include, but are not limited to, statements regarding the proposed business combination and anticipated benefits thereof, including future financial and operating results, statements related to the expected timing of the completion of the transactions, the plans, objectives, expectations and intentions of either company or of the combined company following the merger, anticipated future results of either company or of the combined company following the merger, the anticipated benefits and strategic and financial rationale of the merger and other statements that are not historical facts. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “targets,” “plans,” “intends,” “goal,” “anticipates,” “expects,” “believes,” “potential,” or “continue” or negatives of such terms or other comparable terminology. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially.

All forward-looking statements are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of AGH or Powerus to differ materially from any results expressed or implied by such forward-looking statements. As to the launch of the agriculture division and the distribution agreements with Aerospread Technologies Limited and Sprig Aerospace, LLC, such factors include, among others: (1) that the sales targets under the agreements are performance objectives rather than binding purchase commitments, and actual orders may differ materially or not materialize; (2) that the distribution agreements may be modified, delayed or terminated, and the anticipated benefits of the agreements may not be realized; and (3) that third-party market size and growth projections are estimates that may prove inaccurate and do not guarantee the Company’s ability to capture any portion of the market.

As to the announced merger agreement with AGH, such factors include, among others, (1) the risk of delays in consummating the potential transaction, including as a result of required shareholder and regulatory approvals, including Nasdaq listing requirements which may not be obtained on the expected timeline, or at all, (2) the risk of any event, change or other circumstance that could give rise to the termination of the merger agreement, (3) the possibility that any of the anticipated benefits and projected synergies of the potential transactions will not be realized or will not be realized within the expected time period, (4) the limited operational history of Powerus as a combined organization and integration risks of acquired businesses, (5) diversion of management’s attention or disruption to the parties’ businesses as a result of the announcement and pendency of the transaction, including potential distraction of management from current plans and operations of AGH or Powerus and the ability of AGH or Powerus to retain and hire key personnel, (6) reputational risk and the reaction of each company’s customers, suppliers, employees or other business partners to the transaction, (7) the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events, (8) the outcome of any legal or regulatory proceedings that may be instituted against AGH or Powerus related to the merger agreement or the transaction, (9) the risks associated with third party contracts containing consent and/or other provisions that may be triggered by the proposed transaction, (10) legislative, regulatory, political, market, economic and other conditions, developments and uncertainties affecting AGH’s or Powerus’s businesses; (11) the evolving legal, regulatory, tax, and international trade regimes; (12) the nature, cost and outcome of potential litigation and other legal proceedings, including any such proceedings related to the transactions, (13) restrictions during the pendency of the proposed transaction that may impact AGH’s or Powerus’s ability to pursue certain business opportunities or strategic transactions; and (14) unpredictability and severity of catastrophic events, including, but not limited to, extreme weather, natural disasters, acts of terrorism or outbreak of war or hostilities, as well as AGH’s and Powerus’s response to any of the aforementioned factors.

No Offer or Solicitation
This document is for informational purposes only and is not intended to and shall not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except via a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

Important Information and Where to Find It
In connection with the transaction, AGH will file a registration statement on Form S-4 with the SEC, which will include an information statement and preliminary prospectus of AGH. After the registration statement is declared effective, AGH will mail a definitive information statement to its stockholders. Additionally, AGH expects to file other relevant materials with the SEC related to the merger. Investors and security holders are urged to read the registration statement and joint information statement/prospectus when they become available (and any other documents filed with the SEC in connection with the transaction or incorporated by reference into the joint information statement/prospectus) because such documents will contain important information regarding the proposed transaction and related matters. Investors and security holders may obtain free copies of these documents and other documents filed with the SEC by AGH through the website maintained by the SEC at http://www.sec.gov or at AGH’s website at https://www.aureusgreenway.com/secfilings.

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