Join our daily newsletter At The Bell to receive exclusive market insights
- Defence tech developer Droneshield’s (DRO) shares have spiked once again today on a new order from the European Ministry of Defence
- To fulfil the order, DRO will provide its RadarZero portable counterdrone unit to a client from the European military
- For now, this order only covers the unit’s evaluation — but it’s expected to lead to extra deployments and bring in $100,000 in sales proceeds
- The unit weighs just 1.25 kilograms and is able to detect and track airborne threats
- The news follows DroneShield’s announcement on Thursday about a contract with the U.S. Air Force
- At the start of this week, DroneShield shares were trading for 11 cents each, meaning shares have spiked nearly 60 per cent on the back of the two recent announcements
- Following today’s news, stakeholders drove the DRO share price up 12.9 per cent to trade for 17.5 cents per share
Droneshield’s (DRO) shares have spiked once again today on a new order from the European Ministry of Defence.
To fulfil the order, DRO will provide its RadarZero portable counterdrone unit to a client from the European military.
For now, this order only covers the system’s evaluation — but it’s expected to lead to extra deployments and bring in $100,000 in sales proceeds.
The RadarZero unit weighs just 1.25 kilograms and is able to detect and track airborne threats. It’s powered by the company’s DroneShield Complete Command-and-Control system, which features a graphic interface that displays the data visually. DroneShield says the interface “dramatically reduces reaction and response times.”
Source: DroneShield
USAF contract
The news follows DroneShield’s announcement on Thursday about a contract with the U.S. Air Force (USAF).
Under the $200,000 order, DRO will deploy multiple counterdrone units at the Grand Forks airbase in North Dakota. The DroneSentry contract is the first the company has been awarded by the USAF.
DroneShield CEO Oleg Vornik said the sale was important for a lot of reasons.
“First, this is our first order from this European military. Secondly, this is the first sale of a radar-only fixed-site system powered by DroneShield Complete, demonstrating the modularity of our offering,” Oleg said.
“DroneShield is both a sensor manufacturer and an integrator, with the customer having the ability to add further sensor loads to the acquired system, which DroneShield Complete supports,” he said.
Meanwhile, at the start of this week, DroneShield shares were trading for 11 cents each, meaning shares have spiked nearly 60 per cent on the back of the two recent announcements.
Following today’s news, stakeholders drove the DRO share price up 12.9 per cent. Stock is priced at 17.5 cents per share at 11:58 am AEST.
