Drone security technology stock Droneshield [ASX:DRO] landed an $1.8 million contract with the US Department of Defense.
The new contract is for Droneshield’s DroneGun MKIII handheld counter-drone system for the United States Department of Defense (DoD).
DRO expects full payment in the current quarter.
DRO rose as high as 10% on Tuesday before easing off late.
DRO shares are down 20% over the past six months.
Source: Trading View
Droneshield’s US Defense deal
Droneshield, provider of Artificial Intelligence-based protection platforms built for combating drone and other autonomously-programme threats, provided a short update on its latest deal on Tuesday.
A $1.8 million contract with the DoD has been signed for use of DRO’s DroneGun MKIII, a handheld counterdrone system designed to ‘select and engage RF disruption frequency modes’ a ‘passive countermeasure against a wide range of UAS models’.
UAS basically stands for ‘unmanned aerial system’ — drones.
DroneGun MKIII is a compact and lightweight tool that can be used to disable UAS threats single-handedly.
Droneshield explains:
‘When disruption is triggered, UAS (e.g. drone) will typically respond via a vertical controlled landing on the spot, or return back to the operator controller or starting point. RF disruption activation will also interfere with any live video streaming (FPV) back to the remote controller halting the collection of video footage and intelligence by the UAS operator.
‘DroneShield’s C-UAS defeat capabilities do not involve protocol manipulation or “cyber” tactics, given the limitations of those methods. Our defeat technologies offer non-kinetic jamming for controlled management of threats.’
The company expects delivery to conclude this month, and full payment sometime this quarter.
DroneShield’s Virginia-based Director of Business Development Tom Branstetter commented:
‘It’s an honor to provide our DoD customers with advanced cUAS solutions to help address complex security requirements. DroneShield is committed to delivering critical Force Protection technology that enables security personnel to rapidly respond to this growing threat.’
Droneshield and modern warfare
This contract comes after a down selection of DroneGun MKIII via DoD evaluations in the Joint Counter-small Unmanned Aircraft Systems Office (JCO) and has become the largest US sale so far.
US DroneShield CEO Matt McCrann stated:
‘As the threat of UAS continues to seemingly adapt in real-time, countermeasures need to be both effective and flexible. DroneGun MKIII is that lightweight, flexible countermeasure that can go anywhere and serve as the ideal gap fill capability to protect personnel and assets wherever they might need to operate. We look forward to continuing to support our DoD end users wherever, whenever needed.’
It also follows several recent deals announced throughout the year, such as a $2 million contract for DroneSentry in Europe and for a recent US airport order.
Droneshield also revealed it’s in active discussions with contacts in Ukraine for further sales negotiations, which pertain to much-needed assistance on war-related efforts in the Ukraine.
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Regards,
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For Money Morning
