News and Announcements
DroneShield’s affirms inroads in Saudi Arabia amidst coordinated terrorist drone strike
- Published September 13, 2019 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
The Wall Street Journal is reporting today that in the recent hours a coordinated terrorist drone strike hit at the heart of Saudi oil production facilities, sparking an enormous blaze and forcing the Kingdom of Saudi Arabia to shut down about half of its crude output, equating to be about 5% of worldwide production.
This underscores the need for effective anti-drone technologies. DroneShield has made substantial inroads in the region:
- DroneShield has previously announced a $3.2 million contract with a Middle Eastern Ministry of Defence.
- In its most recent quarterly report, DroneShield stated that it had been awarded the preferred bidder status on a $60 mil to $70 mil contract with the same Ministry of Defence user.
- In that quarterly report, DroneShield also mentioned other multi-million dollars Middle Eastern contracts that it is working on.
- DroneShield has also recently disclosed to the market a Memorandum of Understanding with an arm of The Saudi Telecom Company.
- DroneShield’s stocks have since surged 25%.
We are aware of the urgency of the issue and the magnitude of this recent attack and are in touch with our Saudi partners.
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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