Proxy Aviation Systems announces new CEO

Proxy Aviation Systems has announced that Patrick D. Moneymaker has joined the company as President and CEO.

Proxy Aviation designs, develops and manufactures fully autonomous unmanned aerial systems (UAS) which can also be optionally piloted. Proxy offers the Departments of Defense and Homeland Security many advantages over existing unmanned aerial systems. What differentiates Proxy is its unique technology which not only allows one ground station to manage up to 12 unmanned aircraft simultaneously, but allows those aircraft to share information and work collaboratively. This collaborative software will allow DOD to upgrade its existing inventory, as well as fly more aircraft simultaneously with fewer ground support personnel.

Prior to Proxy, Mr. Moneymaker served as CEO of two government service firms in both the public and private sectors. As CEO of Kforce Government Holdings, Inc, Mr. Moneymaker presided over the merger of two government services acquisitions. He was also CEO of Ocean Systems Engineering Corp. (OSEC), a privately held company involved in the research design, development, and integration of advanced technology systems and services for government and commercial customers.

For thirty years, Mr. Moneymaker had an illustrious career in the United States Navy where he achieved the rank of Rear Admiral. In addition to flying air combat missions in Vietnam, his service included Commander of the elite Blue Angels flying team and Commander, Naval Space Command. As a decorated Navy Top Gun flier, Rear Admiral Moneymaker accumulated over 6,000 flight hours and 1,000 carrier landings.

Mr. Moneymaker said: "I am thrilled to be involved with a technology that will make such a positive difference for our troops and our nation. Proxy's technology offers the Department of Defense numerous advantages over existing unmanned systems and can meet the urgent needs of our government. I am proud to be a part of this terrific, professional team."

Oded Weiss is Partner and CFO of L Capital Partners, a NY venture capital fund which is the lead investor in Proxy Aviation Systems. Mr. Weiss, a Board member of Proxy Aviation, said: "Patrick Moneymaker is the right person to lead Proxy Aviation forward. Proxy has a unique technology which can make a huge difference to our homeland security and the safety of American soldiers in combat on foreign soil. Proxy's groundbreaking solution fits in with L Capital Partners' investment strategy of seeking and supporting transformational technologies".