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- DroneShield (DRO) has secured a new research and development contract for its artificial intelligence and machine learning algorithms
- The order comes from a Five Eyes nation and extends the company’s work with defence departments beyond counter-drone technology
- The contract is valued at around $600,000 and the performance period will run until mid-2021
- Shares have been trading 18.4 per cent higher for 22.5 cents
DroneShield (DRO) has secured a new research and development contract for its artificial intelligence and machine learning algorithms.
The order comes from the defence department of a member nation within the Five Eyes security alliance, which includes the U.S., Canada, Australia, the U.K., and New Zealand.
It also represents an expansion in DRO’s department of defence offerings, which CEO Oleg Vornik said was highly significant for the company.
“This ground-breaking contract expands DroneShield beyond being a pioneer and global leader in the Counter Unmanned Aircraft Systems (C-UAS) domain, and into the Artificial Intelligence and Machine Learning space within the defence sector,” he stated.
“The contract leverages off the cutting edge Artificial Intelligence capabilities that DroneShield has developed within its C-UAS products, applying it to wider defence applications.”
“Further, this contract creates a trusted dialogue with this specific high profile defence customer, allowing us to more deeply understand their requirements and provide them with solutions to address their needs,” he added.
The contract is valued at around $600,000 and the performance period will run until mid-2021.
Shares have been trading 18.4 per cent higher for 22.5 cents at 10:23 am AEDT.
