DroneShield Ltd(ASX:DRO) has received a two year contract with the total value of $3.8 million, with the military of a key Five Eyes country.
The Five Eyes alliance is an intelligence-sharing arrangement between five English-speaking democracies: the US, UK, Canada, Australia and New Zealand.
This contract is testament to the world leading capabilities of the DroneShield team,” CEO, Oleg Vornik, said.
The contract has standard commercial clauses for an R&D contract of this nature. Approximately $2 million of the total cash receipts under the contract is scheduled for the June and September 2021 quarters.
DroneShield has its head office in Sydney and teams in the US and UK, specialising in C-UAS, Electronic Warfare, RF sensing, Artificial Intelligence and Machine Learning, Sensor Fusion, rapid prototyping and MIL-SPEC manufacturing.
Its capabilities are used to protect military, Government, law enforcement, critical infrastructure, commercial and VIPs throughout the world.
The company offer customers bespoke solutions and off-the-shelf products designed to suit a variety of terrestrial, maritime or airborne platforms. DroneShield is proudly exporting Australian capability to customers throughout the world and supporting Australia’s defence, national security and other organisations protect people, critical infrastructure and vital assets.