French President Emmanuel Macron holding DroneShield’s DroneGun
Counter drone technology provider DroneShield has secured an order for 70 units of its DroneGun tactical jammer by an as-yet-unnamed “major Middle Eastern country allied with Western governments”, with the identity of the country remaining a mystery, potentially for security reasons.
“We believe that this is a company-making sale and a gamechanger for DroneShield,” said Oleg Vornik, CEO of DroneShield.
The counter drone company said that the order is worth $3.2 million and was secured through local distributor Zariba Security, an Ottawa-based company founded by a group of British and Canadian “security and intelligence professionals” in 2003.
According to DroneShield, its first multimillion sale represents the largest order for tactical drone mitigation equipment of this kind in the history of the industry.
The deal is significant because drone detection and drone mitigation remain embryonic industries that have developed very recently on the back of growing use of drones.
“We view this order as just a start of our relationship with the Ministry of Defence and expect to receive substantial (and substantially larger) additional orders for this product and other products of the Company and for other ministries and agencies in-country and elsewhere in the region,” said Mr Vornik.
DroneShield shares were up 17% in early morning trade at $0.21 per share on the back of its record deal.
Source: Small Caps