Join our daily newsletter At The Bell to receive exclusive market insights
- Security tech developer DroneShield (DRO) has received a US$200,000 (around A$280,180) contract from the U.S. Air Force
- Under the new contract, DroneShield will station several counterdrone systems at the Grand Forks airbase in North Dakota
- The units, known as DroneSentry, are able to detect airborne threats — such as swarm of drones — and disable them by jamming their frequencies
- The order marks DroneShield’s first U.S. Air Force deployment
- It follows yesterday’s announcement that DRO finished the June quarter cashflow-positive
- Investors have driven DRO shares 17.4 per cent higher just before noon — shares are priced at 13.5 cents each
Security tech developer DroneShield (DRO) has received a US$200,000 (around A$280,180) contract from the U.S. Air Force (USAF).
Under the new contract, DroneShield will station several counterdrone systems at the Grand Forks airbase in North Dakota.
The order marks DroneShield’s first U.S. Air Force deployment.
“DroneShield was selected because our technology leverages Artificial Intelligence software,” said DroneShield CEO Oleg Vornik.
DroneSentry units
Source: DroneShield
The units, known as DroneSentry, are able to detect airborne threats — such as a swarm of drones — and disable them by jamming their frequencies.
DroneSentry comes equipped with a suite of DRO features, including its DroneOpt cameras, which help detect incoming threats, and DroneCannons, the disabling countermeasure.
Importantly, the contract allows USAF to buy additional units after the original order is fulfilled.
“We are immensely proud that the U.S. Air Force, one of the most demanding customers in the world, chose to deploy DroneShield’s flagship, fixed-site detect-and-defeat system,” the company told the ASX.
The contract follows yesterday’s announcement that DRO finished the June quarter cashflow-positive.
In addition, its operating costs dropped from nearly $2 million in March to just over $50,000 in the most recent quarter.
All up, DroneShield ended FY20 with more than $4 million in cash reserves.
Investors have driven DRO shares 17.4 per cent higher just before noon. Shares are priced at 13.5 cents each at 11:54 am AEST.
