DroneShield Receives AU$25 Million US Joint Interagency Task Force Counter-Drone Technologies Contract; Shares Up 5%

MT Newswires Live06-02 08:44

DroneShield (ASX:DRO) received a contract for the supply of mobile and fixed site counter-drone technologies supporting the mission of the US Department of War's Joint Interagency Task Force 401, according to a Tuesday Australian bourse filing.

The contract has an initial value of AU$19.3 million, with an additional AU$5.6 million in options of the end-user over a five-year period, the filing said.

The counter-drone technologies include hardware, subscriptions, warranties, and services. The contract also requires the company to purchase and install third-party interoperable solutions.

Payments will be received for the initial value from second half of the year through the first half of 2027.

DroneShield's shares jumped nearly 5% in recent trading on Tuesday.

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