News and Announcements
DroneShield is pleased to confirm it has received an approximately A$300,000 payment from the Australian Department of Defence
- Published January 14, 2020 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
DroneShield Ltd (ASX:DRO or DRO.AU) (“DroneShield” or the “Company”) is pleased to confirm it has received an approximately A$300,000 payment from the Australian Department of Defence for a small quantity of its DroneGun TacticalTM product for a third order from this customer, placed in December 2019 and delivered this month.
This order follows on two earlier Australian Department of Defence orders for DroneShield’s RfPatrolTM product.
DroneShield’s CEO Oleg Vornik commented, “As an Australian company, we are proud to deliver another order to the Australian Department of Defence as we continue to build our relationship with them. The materiality of this third order with this customer in the space of under a year, demonstrates our successes are not one off but rather an established relationship, with tight timeframes between orders and payments. In context, this order payment on its own is equal in magnitude to DroneShield’s total customer cash receipts for the last announced quarter for September 2019. Australian Government agencies are inactive assessment to manage the drone threat, and we expect additional orders from them in the near term. Further, DroneShield continues to actively engage in its substantial existing pipeline as well as exploring new opportunities being created by its global in-country partners along with its own global salesforce.”
Image: French Army with DroneShield’s DroneGun TacticalTM
About DroneShield
Based in Sydney (Australia), Virginia and Washington, DC (USA) and London (UK), DroneShield is a worldwide leader in drone security technology. The Company has developed the pre-eminent drone security solution that protects people, organisations and critical infrastructure from intrusion from drones. Its leadership brings world-class expertise in engineering and physics, combined with deep experience in defence, intelligence, and aerospace.
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