- DroneShield has released a new drone detection product called RfZero
- It’s designed to be a fixed alternative to its higher end product RfOne
- It can log drone detections and securely store the information for future needs
- It also announced it has received commitments to raise $9.55 million
DroneShield has announced it has launched a breakthrough new product titled RfZero which will be available for purchase from today.
This new product comes after extensive development in response to end-user feedback.
RfZero is an omnidirectional drone detection installation with a one kilometre range that is ideal for small to medium sized sites. It is designed to be a cost-effective alternative to its higher end product RfOne.
It can integrate with all of DroneShield’s products such as the DroneShieldComplete GUI which provides live site monitoring capabilities and effective drone identification. These drone detections are then securely logged for evidence collection.
It can also integrate with on-site servers and cloud-based servers for the purpose of updates and data logging.
RfZero is completely non-emitting which allows for a substantially larger customer base. Given that the product lacks regulatory constraint it is marked at a lower price than its other products which also appeals to a wide customer base.
According to DroneShield CEO Oleg Vornik this product is expected to appeal to a lot of customers and have a wide range of uses.
“RfZero is expected to appeal to a wide range of users looking for a more cost effective fixed site solution,” Oleg said.
“Typical target customers for RfZero include prisons, VIPs, commercial site, mining industry, events and qualified corporate users,” he said.
DroneShield has also announced today that it has received commitments from institutional, professional and sophisticated investors to raise $9.55 million.
A total of 47,750,000 ordinary fully paid shares will be issued at a price of $0.20 per share which represents a 33.3 per cent discount from the last close of $0.30.
Funds raised from the placement will be used to fund requirements for new contracts, further developments and integrations and countermeasure technologies, general working capital, and the expansion of sales and marketing efforts.
“The proceeds from this placement will allow DroneShield to take advantage of these opportunities through meeting the requisite bonding, scale of manufacturing and global business development resourcing requirements,” Oleg commented.
DroneShield shares are down 10 per cent as of 11:14am AEST, trading for 27 cents with a market cap of $58.01 million.