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Sydney counter-unmanned aerial system developer DroneShield has announced an $11.7 million research and development contract with a Five Eyes Department of Defence customer.
The follow-on two-year contract involves a customer from the Five Eyes defence and intelligence alliance between the United States of America, Canada, the United Kingdom, Australia and New Zealand.
The contract is the fourth research and development award with the same Department of Defence customer and follows successful completion of the earlier $9.9 million contract announced on 4 July 2023.
DroneShield has previously received three research and development contracts, including two follow-on contracts from this DOD customer in November 2020, June 2021 and June 2023, totalling approximately $14.4 million, according to DroneShield chief executive officer Oleg Vornik.
“Multiple follow-on contracts are the ultimate customer measure of our performance,” he said.
“As an Australian sovereign business, providing capabilities globally, DroneShield is proud to continue undertaking multi-year contracts of a meaningful size with this customer.”
There is no obligation for any additional contracts from this DOD customer.
In an ASX announcement this week, DroneShield confirmed that it does not consider the identity of the customer to be information that a reasonable person would expect to have a material effect on the price or value of the DroneShield’s securities; and the announcement contains all material information relevant to assessing the impact of the contracts on the price or value of the DroneShield’s securities, and is not misleading by omission.
