DroneShield – US Department of Defense Funding

droneshield funding

DroneShield Ltd (ASX:DRO) (“DroneShield” or the “Company”) is pleased to announce it has received funding from the United States Department of Defense (“DoD”) for targeted development of its DroneShieldCompleteTM Command-and-Control (“C2”) system.
 
The section of the DoD, which has awarded the contract, is a new customer for DroneShied. The funding was awarded through a sole source contract.
 
DroneShieldCompleteTM is an intuitive and feature rich C2, providing real time alerting, tracking and reporting information for native DroneShield as well as third party sensors. The DoD is working with DroneShield, providing funding for an agreed list of feature enhancements, for a project expected to span over several months. Importantly, following that period, the DoD is expected to make multiple purchases of DroneShield’s C-UAS equipment, which would run on the enhanced DroneShieldCompleteTM C2.
 
Oleg Vornik, DroneShield’s CEO, has commented, “We are proud to be working with the United States Department of Defense, one of most demanding defence customers globally, on this project to ensure our DroneShieldCompleteTM C2 stays at the cutting edge of customer requirements. Further, this project underscores our leadership not only as a product/sensor manufacturer, but also as an integrator of fixed site and mobile C-UAS systems. This contract is a material milestone in cementing our close working relationship with the largest defence customer globally. In addition to expected purchases associated with this paid development contract, further orders for other DroneShield solutions are expected as part of developing a trusted supplier relationship with this customer.”  
 
Whilst the Company is unable to precisely quantify the follow up orders, it expects the orders to be material and will in due course provide an update on the dollar amounts to the market, when available.

https://www.suasnews.com/2020/09/droneshield-us-department-of-defense-funding/ Read the original article