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Electro Optic Systems (ASX:EOS) has seen its shares jump +3.5% heading into arvo trades as the company reveals it’s the beneficiary of a new A$20 million order for its ‘Slinger’ counter-drone system, to an unspecified NATO country.
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The Slinger is effectively a 30mm cannon controlled by a computer that can track drones beyond 800m distance and, if required, can be mounted to a vehicle. It comes with stabilisation software and offers a fairly conventional approach to managing drones insofar as radio jamming and other technologies extend.
(In the background, much combatant drone use in the Ukraine-Russia war has converted to using fibre optic cable-linked UAVs, which, physically tethered to a control post, can’t be brought down by jamming.)
EOS has also recently developed a laser-based anti-drone system that went to a NATO customer earlier this year, which was an original catalyst for EOS that saw its shares run to $10/sh as recently as early October.
Likely hoping to rekindle some of that momentum, EOS has noted on Monday that its contract backlog now sits at some A$400M, which it described as a triplefold increase YoY (a/a December 31, 2024).
In the background of EOS’s Monday counter-drone deal is the riotously controversial move that came from competitor Droneshield last week, when its CEO Oleg Vornik dumped all of his shares in the company to the surprise of many.
EOS last traded at $4.95/sh.
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