Multi-domain and multi-mission solutions provider DroneShield (ASX:DRO) reports it has received arecord purchase order for about US$11 million for a Government agency customer.
It is reported that the order includes several different types of the company’s counterdrone/C-UAS equipment, with a substantial part of the order expected to be delivered shortly.
The remainder of the order is expected to be delivered in late March 2023.
“With this transformational next step in DroneShield’s growth, and as the counterdrone industry continues to rapidly grow, we look forward to rapidly fulfilling this contract”
Speaking on the record order, DroneShield Chief Executive Officer (CEO), Oleg Vornik said: “With this transformational next step in DroneShield’s growth, and as the counterdrone industry continues to rapidly grow, we look forward to rapidly fulfilling this contract.
From the start of the company 7 years ago, DroneShield has demonstrated a consistent progression, first by building and then refining its product suite along with global distributor network, and then moving to customer demos, followed by initial smaller sales, repeat $1 million+ sales, and now moving into $10 million+ sales territory.
Over the last 24 months, we have made a ‘significant’ investment in scaling our operations, to ensure we continue to meet delivery expectations of our customers as we rapidly scale up.”
The company also notes that the $11 million corresponds to the combined value of both phases of the project, with each payment expected to be received within a month of each delivery across the March and June 2023 quarters.
In addition, this large contract comes following a number of other recent wins for the company in the last couple of months, as well as a recommendation by the Joint Counter-small Unmanned Aircraft Systems Office (JCO) as part of the SAIC Team’s offering for deployment of its Counter-UAS as a service across US Department of Defence (DoD).
Meanwhile, DroneShield welcomed a US$3.7 million investment from Epirus, a high-growth U.S. defence technology company that is developing software-defined directed energy systems, which will enable unprecedented counter-electronics effects and power management solutions to optimise power efficiency in defence and commercial applications.
DroneShield is an ASX-listed company that provides artificial intelligence based platforms for protection against advanced threats, such as drones and autonomous systems. The company offers customers bespoke counter drone and electronic warfare solutions, as well as off-the-shelf products designed to suit a variety of terrestrial, maritime or airborne platforms.
Image: DroneShield Ltd