DroneShield (ASX:DRO) receives record $2m European order

• DroneShield (DRO) receives a record $2 million order from an unnamed European Government customer
• The company received orders for its artificial intelligence (AI) software engines which include RFAI, DroneOptID and DroneSentry-C2
• A majority of the payment is expected to be received in the current quarter with the remainder to be paid on installation
• DroneShield is up 7.58 per cent with shares trading at 17.8 cents at 2:04 pm AEST

DroneShield (DRO) has received a record $2 million order from an unnamed European Government customer.

Orders have been received for DroneShield’s artificial intelligence (AI) software engines which include RFAI, DroneOptID and DroneSentry-C2.

RFAI is a radiofrequency sensor AI, DroneOptID is an optical computervision AI and DroneSentry-C2 is a software platform that provides counter-unmanned aerial system awareness and reporting capability.

“This order continues our progression from developing the tech, to smaller sales, to repeat smaller size, to presently realising larger contracts,” CEO Oleg Vornik said.

“There is a substantial near-term sales pipeline in place, and we are pleased to start converting it into contracts.

“This contract reinforces our position that to be a global leader in the rapidly growing counterdrone sector, a full suite of products is critical, including handheld, vehicle and fixed site offering, as we are seeing sales with separate customer sets for each of those complementary products.”

The company expects to receive majority of the payment in the September quarter with the remainder to be paid on installation which is expected before the end of this year.

DroneShield was up 7.58 per cent on the market with shares trading at 17.8 cents at 2:04 pm AEST.