- DroneShield (DRO) is granted the first exemption permit of its kind to undertake advanced testing of its electronic warfare and counter-drone portfolio in Australia
- The exemption from the Australian Communications and Media Authority (ACMA) was passed as law earlier this year to enable the development of advanced electronic warfare technologies for use by authorised government agencies in the country
- The exemption comes with safeguards to balance the need to develop and test advanced technologies in Australia, while maintaining restrictions around impact on the broader community
- While no specific revenue guidance is associated with the news, DroneShield says it expects it to have a material positive impact on DroneShield’s financials
- DroneShield last traded at 17.5 cents on December 14
DroneShield (DRO) has been granted the first exemption permit of its kind to undertake advance testing of its electronic warfare and counter-drone portfolio in Australia.
Permission was granted by the Australian Communications and Media Authority (ACMA), the Australian Federal Government agency regulator of the communications spectrum.
The exemption was granted under the Radiocommunications Determination 2021, passed as law by the ACMA earlier this year to enable the development of advanced electronic warfare technologies for use by authorised government agencies in Australia.
The exemption comes with safeguards to balance the need to develop and test advanced technologies in Australia, while maintaining restrictions around impact on the broader community.
DroneShield CEO Oleg Vornik said the change in law and resulting permit demonstrates the rapid responsiveness of the Australian Federal Government and ACMA.
“The Government agencies understood the resulting need for legislative amendments, and were fast moving in the implementation, despite current challenging times,” Mr Vornik said.
“This permit substantially accelerates the development and optimisation of advanced Artificial Intelligence-powered electronic warfare and counter-terrorism technologies here in Australia, and we are excited to rapidly move forward in undertaking the work, at DroneShield and University of Technology Sydney facilities.”
While no specific revenue guidance is associated with the news, DroneShield said it expects it to have a material positive impact on DroneShield’s financials.
DroneShield last traded at 17.5 cents on December 14.