Month: September 2026

Integration delivers nearly 30 minutes of autonomous flight in GPS-denied environments and advances Exyn’s hardware-agnostic strategy to expand ExynAI across a growing range of aerial and ground platforms

PHILADELPHIA, PA, Sept. 15, 2026 (GLOBE NEWSWIRE) — Exyn Technologies (“Exyn” or the “Company”) (NASDAQ: EXYN, EXYNW), a leader in autonomous mapping and AI-powered navigation for complex, GPS-denied environments, today announced the integration of its Exyn Nexys autonomous mapping platform with the CHCNAV X500 (“X500”) professional unmanned aerial vehicle (UAV) — the newest addition to Exyn’s growing ecosystem of supported robotic platforms.

The combined system delivers nearly 30 minutes of autonomous flight, enabling customers to cover larger areas and run longer missions in environments where GPS is unavailable and no prior map exists — underground mines, tunnels, industrial plants and large enclosed structures — without continuous pilot control.

The integration reflects Exyn’s hardware-agnostic approach to autonomy. Rather than requiring customers to adopt a single proprietary aircraft, ExynAI and the Nexys modular payload are designed to extend autonomous mapping across multiple aerial and ground platforms, allowing organizations to select the hardware best suited to the mission — and allowing Exyn to reach new customers without designing, building or supporting aircraft of its own.

“Customers should not have to choose their autonomy software based on a single piece of hardware,” said Ben Williams, Interim Chief Executive Officer and Chief Operating Officer of Exyn Technologies. “Our strategy is to make ExynAI available across a growing ecosystem of trusted robotic platforms, and the X500 is a strong example of that approach. Pairing Nexys with an aircraft capable of more than 30 minutes of autonomous flight gives customers greater flexibility and significantly more time to capture the data they need on every mission.”

Longer Flights, More Data Captured Per Mission

The CHCNAV X500 is engineered for high payload capacity and endurance; when equipped with Nexys, the X500 becomes an autonomous reality capture platform capable of navigating and mapping complex environments without GPS or prior maps. ExynAI’s onboard perception and decision-making allow the integrated system to plan its own paths, avoid obstacles and adapt to changing conditions while capturing high-fidelity 3D data in real time.

With close to 30 minutes of autonomous flight in the integrated configuration, the X500 + Nexys system delivers substantially longer mission duration for applications including underground mapping, industrial inspection, infrastructure surveying, facility digitization and the mapping of large or difficult-to-access environments — more coverage per flight, fewer battery swaps, and less reliance on manual piloting.

Building an Autonomy Layer for a Growing Robotics Ecosystem

Nexys is designed as a modular system that can move between deployment platforms, while ExynAI provides the underlying mapping, localization, navigation and autonomy capabilities. By expanding compatibility across robotic platforms, Exyn intends to give customers the flexibility to deploy the Company’s technology on the aircraft or ground system that best matches the mission.

The integration also supports Exyn’s longer-term strategy of expanding software, SDK, API and OEM opportunities, enabling ExynAI to be incorporated into a broader range of robotic platforms rather than being tied to a single hardware system.

“We believe the long-term opportunity for ExynAI extends well beyond any single drone or robot,” added Williams. “The future of robotics will not be defined by one aircraft or one ground vehicle. As we expand compatibility across third-party platforms, we broaden the range of customers and missions our technology can serve and position ExynAI as the autonomy layer for a growing robotics ecosystem.”

Applications Across Mining, Infrastructure and Industrial Markets

The X500 + Nexys integration is designed to support customers across mining, surveying, industrial inspection, infrastructure and other complex operating environments. By combining extended flight endurance with autonomous GPS-denied navigation and high-fidelity 3D mapping, the system enables organizations to capture more data in a single mission while reducing reliance on manual piloting — and sending fewer people into hazardous spaces.

The integration expands Exyn’s portfolio of supported aerial and ground platforms as the Company continues its strategy of making ExynAI available across a broader robotics ecosystem.

The X500 + Nexys configuration is available to order now through Exyn and its authorized partners.

About Exyn Technologies

Exyn Technologies (NASDAQ: EXYN, EXYNW) is a leader in autonomous mapping and AI-powered navigation for complex, GPS-denied environments. Powered by ExynAI, the Company’s technology enables aerial and ground robotic systems to autonomously navigate, map and collect high-fidelity spatial data without GPS, prior maps or continuous operator control. Exyn serves customers across mining, infrastructure, manufacturing, construction, geospatial, government and defense markets. For more information, visit www.exyn.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this press release are forward-looking statements, including statements regarding the capabilities, performance, availability, timing and anticipated benefits of the ExynAI-powered Nexys platform and its integration with the CHCNAV X500; the potential applications and commercial opportunities for the integrated platform across mining, infrastructure, surveying, industrial and other markets; the potential for additional sensor or payload integrations with CHCNAV; the Company’s ability to expand ExynAI across additional third-party aerial and ground robotic platforms; the potential expansion of the Company’s addressable market; customer and partner adoption of ExynAI; and the Company’s strategy to expand software, SDK, API and OEM integration opportunities and position ExynAI across a broader robotics ecosystem.

These forward-looking statements are based on current expectations, estimates, projections, assumptions and beliefs of the Company’s management. Forward-looking statements are inherently subject to known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. These risks and uncertainties include, among others, the Company’s ability to continue as a going concern and to raise substantial additional funds in the future; Exyn’s ability to successfully integrate, commercialize and deploy ExynAI, Nexys and other autonomy solutions across third-party platforms; customer and partner adoption of autonomous robotics and 3D mapping solutions; the Company’s ability to develop and expand software, SDK, API and OEM relationships; industrial, government and defense customer purchasing decisions; competition, technological change, supply chain, manufacturing, regulatory, export-control and government-contracting risks; and the other risks and uncertainties described in the Company’s filings with the U.S. Securities and Exchange Commission. 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 applicable law.

Media Contact
Vanessa Varian
Exyn
vvarian@exyn.com 

Investor Contact
Crescendo Communications, LLC
exyn@crescendo-ir.com
(212) 671-1020

Proposal reflects a 50% premium to SkyAI’s closing price on September 14, 2026. SkyAI stockholders may elect cash or Forward common stock, or any combination of the two.

AUSTIN, Texas, Sept. 15, 2026 (GLOBE NEWSWIRE) — Forward Industries, Inc. (NASDAQ: FWDI) (the “Company” or “Forward”), the leading Solana treasury company, today announced that it has delivered a letter to the Board of Directors of SkyAI, Inc. proposing to acquire all of SkyAI’s issued and outstanding common stock.

Under the proposal, SkyAI stockholders would receive cash and/or shares of Forward common stock, at each holder’s election. Each SkyAI share would be converted into the value of 0.306 Forward shares, a fixed exchange ratio that would not adjust for changes in the trading price of either company’s common stock. Based on the closing price of $6.95 per Forward share on September 14, 2026, the ratio implies consideration of $2.13 per SkyAI share, a 50% premium to SkyAI’s closing price of $1.42 on the same date. Forward has proposed to effect the transaction as a merger or other tax-efficient combination as the parties may mutually agree.

“Our updated offer reflects our conviction in the value this combination can create,” said Ryan Navi, CIO of Forward Industries. “Forward has a proven playbook and a track record of execution that delivers value. SkyAI’s stockholders have waited long enough. We’re ready to move quickly – the next step is for the Board to engage.”

Forward has requested a response from the SkyAI Board by 5:00 p.m. Eastern time on September 25, 2026.

The proposal is non-binding and remains subject to customary conditions, including completion of due diligence, the negotiation and execution of a definitive agreement, receipt of required regulatory approvals, and approval by SkyAI’s stockholders. There can be no assurance that any transaction will be agreed or completed, or that any definitive agreement will be entered into.

No Offer or Solicitation

This press release is for informational purposes only. It does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor is it a solicitation of any vote or approval, and there will be no 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. Any securities that may be issued in connection with a transaction would be offered only by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an applicable exemption therefrom.

About Forward Industries, Inc.

Forward Industries, Inc. (NASDAQ: FWDI) is a Solana focused digital asset treasury company, with the strategy to buy, hold, stake, trade, invest in, and grow SOL and SOL related digital assets, protocols and businesses. Forward’s mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL and engaging with, providing tools to and investing in the Solana network, Solana developers and Solana related projects in order to increase shareholder value. In connection with a private placement transaction in September 2025, Forward launched a digital asset treasury strategy supported by industry leading investors and operating partners including Galaxy Digital and Jump Crypto. For more information on the Company’s Solana treasury strategy, visit www.forwardindustries.com.

Forward Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. These forward-looking statements address various matters including statements relating to the proposed transaction with SkyAI, Inc., the Company’s plan for value creation and strategic advantages, market size and growth opportunities. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the risk that the proposed transaction is not agreed, is delayed, or is not completed on the terms described or at all; the risk that the SkyAI Board does not engage with the Company; failure to realize the anticipated benefits of the proposed transaction or of the Company’s digital asset treasury strategy; changes in business, market, financial, political and regulatory conditions; risks relating to the Company’s operations and business, including the highly volatile nature of the price of Solana and other cryptocurrencies; the risk that the price of the Company’s common stock may be highly correlated to the price of the digital assets that it holds; risks related to increased competition in the industries and markets in which the Company does and will operate (including the applicable digital assets market); risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes; as well as those risks and uncertainties identified in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements.

Contacts

Media Contact comms@forwardindustries.com
Investor Relations Contact ir@forwardindustries.com

PORTLAND, Ore., Sept. 15, 2026 (GLOBE NEWSWIRE) — National average truckload spot rates fell across all three equipment types in August, posting the steepest July-to-August declines in DAT’s 16-year rate history, according to DAT Freight & Analytics, provider of the industry’s leading load boards and freight analytics.

The pullback also moved dry van and refrigerated (“reefer”) spot rates back below contract rates after spot rates exceeded contract rates in June and July.

Spot rates post record August declines

The national average van spot linehaul rate fell 20 cents to $2.19 per mile in August, the reefer rate fell 14 cents to $2.61, and the flatbed rate fell 20 cents to $2.70. Each was the largest July-to-August decrease for that equipment type in DAT’s rate history.

A seasonal decline in August is common: spot rates have fallen from July to August in 13 or 14 of the past 16 years, depending on equipment type. This year’s change was unusually steep:

• Dry van: down 8.4%, compared with the previous record August decline of 6.7% in 2018
• Reefer: down 5.1%, compared with the previous record of 4.8% in 2012 and 2013
• Flatbed: down 6.9%, compared with the previous record of 6.4% in 2023

Spot rates are paid by freight brokers to carriers on a per-transaction basis; linehaul rates exclude an amount equal to an average fuel surcharge. Despite the pullback, spot linehaul rates remained more than 30% higher than in August 2025 across all three equipment types.

Spot-contract rate gap reopens

Van and reefer spot rates moved back below contract rates in August, reversing the brief stretch in June and July when spot rates were higher. Contract rates are negotiated prices paid by shippers to asset-based carriers and freight brokers.

Van spot linehaul averaged $2.19 per mile compared with $2.41 for contract freight, a 22-cent gap after the two were roughly even in July. Reefer spot linehaul averaged $2.61 compared with $2.65 for contract freight, a 4-cent gap. In July, reefer spot rates were 13 cents higher than contract rates.

Flatbed contract rates remained above spot rates throughout the summer. The gap widened to 38 cents in August from 19 cents in July.

Truckload volumes decline

The DAT Truckload Volume Index (TVI), which measures loads moved during the month, declined across all three equipment types compared with July:

• Van TVI: 247, down 5% from July and roughly flat year over year
• Reefer TVI: 181, down 2% from July and 10% year over year
• Flatbed TVI: 288, down 3% from July and 5% year over year

“Last month’s decreases in rates and volumes in large part reflect normal seasonality and freight that shippers pulled forward earlier in the summer,” said Dean Croke, DAT’s principal industry analyst. “However, truck capacity tightened significantly during CVSA Brake Safety Week and rates still eased, suggesting much cooler demand for trucks heading into the end of the month, the first week of September, and the Labor Day holiday.”

Diesel prices add cost pressure

In addition to declining spot rates, diesel prices approached record territory by the end of August, adding another layer of cost pressure for carriers. Van fuel surcharges averaged 70 cents per mile last month, up 8 cents from July; reefer surcharges averaged 77 cents, up 10 cents; and flatbed averaged 84 cents, up 10 cents.

Fuel price volatility affects spot and contract freight differently. Contract rates typically include a fuel surcharge that adjusts with the price of diesel. Spot rates are negotiated as an all-in price paid by the broker, with no separate surcharge, leaving carriers more exposed to rapid changes in fuel prices.

About the DAT Truckload Volume Index

The DAT Truckload Volume Index measures monthly changes in loads with a pickup date during that month. A baseline of 100 equals the number of loads moved in January 2015, based on data from DAT RateView, part of the DAT iQ freight analytics platform, which tracks rates paid on actual shipments. Benchmark spot and contract rates reflect invoice data for hauls of 250 miles or more in the United States and Canada. That transaction-level data reflects what shippers, brokers, and carriers paid and charged, providing a direct read on market conditions.

About DAT Freight & Analytics

DAT Freight & Analytics operates the DAT One truckload freight marketplace; Convoy Platform, an automated freight-matching technology; DAT iQ analytics service; Trucker Tools load-visibility platform; and Outgo factoring and financial services for truckers. Shippers, transportation brokers, carriers, news organizations, and industry analysts rely on DAT for market trends and data insights, informed by nearly 700,000 daily load posts and a database exceeding $1 trillion in freight market transactions.

Founded in 1978, DAT is a business unit of Roper Technologies (Nasdaq: ROP), a constituent of the Nasdaq 100, S&P 500, and Fortune 500. Headquartered in Portland, Oregon, DAT continues to set the standard for innovation in the trucking and logistics industry. Visit dat.com for more information.

Media Contact

Georgia Jablon
georgia.jablon@dat.com 

• Acquired Company Has Over $10 Million in Current Contractual Backlog. 
• Azure is Generating Positive EBITDA in 2026, and This is Expected to Scale Significantly Over the Next 12 Months.
• Azure Holds Project Equity Interests in Multiple Power Plants Under Construction with Management-Estimated Net Present Value Exceeding $220 Million.
• Experienced Team Has Participated in the Design and Construction of 72 Power Generation Facilities Representing 17.5 GW of Generating Capacity.

Fort Lauderdale, FL, Sept. 15, 2026 (GLOBE NEWSWIRE) — Algorhythm Holdings, Inc. (the “Company”) (NASDAQ: RIME) – a leading business holding company, today announced that it has completed the acquisition of Azure Energy, LLC (“Azure”), a renewable power plant developer based in Charlotte, NC.

The transaction was structured as an asset purchase with total consideration of approximately $23 million, consisting of shares of the Company’s common stock and shares of a new class of preferred stock that will obtain voting rights and become convertible into shares of common stock after shareholder approval for the transaction is obtained.

The acquisition represents a transformational strategic transaction for the Company, establishing the Company in the rapidly expanding U.S. power infrastructure market as artificial intelligence, hyperscale computing and advanced manufacturing drive substantial new demand for reliable power generation.

Azure Energy – Experienced Team, Scaling Contract Revenue & EBITDA, Significant Project Level Equity Stakes

Azure is a leading developer of renewable biomass power generation infrastructure. It was founded in 2025 by Andrew Thompson and Kevin Tangen. Its team consists of some of the most experienced biomass power plant experts in the US today. Collectively, the team has designed and built 72 facilities generating 17.5GW of renewable power to date. Azure Energy has already secured equity participation valued at over $220 million in net present value through multiple power plants under construction in the US today. Azure Energy has significant fee-income consulting revenues that will be receivable under multi-year contracts, and is generating scaling, positive EBITDA.

Azure’s current engagements include Fortune 500 companies converting or redeveloping legacy fossil-fuel power facilities with renewable solutions, new AI data center facilities in Tennessee and Louisiana, and advanced manufacturing facilities. Its growing pipeline includes potential data center projects in Oregon, Wyoming and across the southeastern United States, additional Fortune 500 prospects, and government-supported renewable energy projects.

Positioned at the Intersection of Sustainable Power Infrastructure and AI Data Center Growth

The rapid expansion of artificial intelligence and hyperscale computing is creating unprecedented demand for new power infrastructure, and Azure is uniquely positioned to capitalize on this window of opportunity. McKinsey estimates that nearly $7 trillion of cumulative global data center investment will be required by 2030, including approximately $1.3 trillion supporting the power generation and transmission, cooling and electrical infrastructure required for AI data centers.

At the same time, the substantial electricity and water requirements of large-scale data centers are generating increased scrutiny from communities and governments concerned about grid capacity, utility rates, water resources and environmental impact. These concerns are increasingly affecting where and how new data centers can be developed.

Azure’s pyrolysis-to-power (“P2P”) technology is designed to address these challenges. Its power plants utilize renewable biomass and waste streams to produce reliable, dispatchable power capable of operating independently from traditional electric grid capacity. This behind-the-meter approach can provide data center developers with dedicated power generation while reducing dependence on constrained local utility infrastructure.

Azure’s P2P technology is also designed around sustainability, providing a carbon-neutral power generation pathway while generating millions of gallons of fresh, potable water per day as a byproduct of the power generation process. The Company believes this combination of dedicated power, renewable biomass utilization and internally generated water can substantially reduce the demands a data center places on local power and water resources.

New Members of Executive Team

As part of the transaction, Andrew Thompson, co-founder and Managing Partner of Azure Energy, was appointed Chief Executive Officer and Chairman of the Board of Algorhythm Holdings. Mr. Thompson is a serial entrepreneur with more than 20 years of finance, project finance and energy project development experience. Kevin Tangen, co-founder of Azure Energy, also joined the Company and will drive the engineering and technical teams within the Company. Mr. Tangen has over 40 years of deep technical expertise in the renewable power generation space and is considered a leading expert on Azure’s pyrolysis to power technology

“We are excited to complete this transaction and begin the next phase of building Azure as part of Algorhythm,” commented Andrew Thompson, Managing Partner of Azure Energy. “Our team has spent many years developing and constructing complex power generation projects. We are leaders in the design, construction and supervision of innovative biomass power plants. Our work to date speaks for itself; 72 power plants, 17.5GW delivered to a wide range of satisfied power consumers across the US.”

“Power availability is rapidly becoming one of the defining infrastructure challenges of the AI era,” continued Thompson. “Azure has been built around addressing that challenge with scalable, dispatchable and sustainable power solutions designed to meet the unique requirements of large-scale data centers and other power-intensive customers.”

“Today, as part of Algorythm, we can significantly scale our business, selectively expanding our role in projects where a stronger balance sheet has been the only limiting factor to increasing our revenue opportunity 10x or more. Algorhythm will enable us to take on more projects, accelerate our revenue growth, attract more top-tier talent, and propel us forward, helping us unlock our true value potential. We look forward to providing additional commercial milestone updates in the coming months as we execute on our business model in 2026 and beyond,” concluded Mr. Thompson.

About Algorhythm Holdings

Algorhythm Holdings, Inc. is a leading holding company that owns and operates Azure Energy and SemiCab.

Azure Energy is a leading developer of renewable biomass power generation infrastructure. Azure’s uses its pyrolysis-to-power (“P2P”) technology to design power plants that utilize renewable biomass and waste streams to produce reliable, dispatchable power capable of operating independently from traditional electric grid capacity. Azure’s P2P technology is also designed around sustainability, providing a carbon-neutral power generation pathway while generating millions of gallons of fresh, potable water per day as a byproduct of the power generation process. Azure has designed and built 72 facilities generating 17.5GW of renewable power to date. For additional information, please go to: https://azure-energy.co/

SemiCab is an AI technology company that has enabled major retailers, brands and transportation providers to address common supply-chain problems globally. Its AI-enabled, cloud-based Collaborative Transportation Platform achieves the scalability required to predict and optimize millions of loads and hundreds of thousands of trucks. For additional information, please go to: http://www.semicab.com.

Investor Relations Contact
Brendan Hopkins
407-645-5295
investors@algoholdings.com
www.algoholdings.com

Media Contact
FischTank PR
Algorhythm@fischtankpr.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as “expects,” “anticipates,” “believes,” “will,” “will likely result,” “will continue,” “plans to,” “potential,” “promising,” and similar expressions. These statements are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in Algorhythm’s reports to the SEC, including, without limitation Algorhythm’s Annual Report on Form 10-K for the year ended December 31, 2025. You should not place undue reliance on any forward-looking statement, each of which applies only as of the date of this press release. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations, or as a result of new information, future events or otherwise.