The Premier Products Group Inc (OTCMKTS:PMPG) stock has soared by 37% today after the company announced that it has inked a memorandum of understanding with the smart drone-city and spatial web management firm VERSES.
VERSES is currently engaged with the Digital Government Transformation Effort of the European Union and is leading a drone project spread across multiple cities. Premier Products Group signed a proof of concept memorandum of understanding pertaining to drone management and lidar technology.
In addition to that, the collaboration is also going to include a dashboard that is going to show the full suite of data streams. This deal with VERSES is particularly important for Premier Products Group since it could come as a boost for the company if it is to work on Smart City project for Miami. Not too long ago, the company also had a meeting with the Mayor of Miami regarding the initiative.