American Industrial Technologies ("AIT") today announced the signing of a Letter of Intent ("LOI") with ideaForge Technology Limited to explore the formation of a strategic joint venture. AIT recently announced that it has entered into a non-binding letter of intent to merge with SIM Acquisition Corp. I (NASDAQ:SIMA).

The proposed partnership combines AIT's rapidly expanding telecommunications, IoT, logistics, AI, and mobility ecosystem with ideaForge's globally recognized leadership in unmanned aerial systems (UAS), autonomous drone technology, and defense-grade aerial intelligence platforms.