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Sydney counter-drone developer DroneShield has announced a $49.6 million contract for handheld counter-drone systems to a European military end customer.
The devices contract, which includes accessories and software updates, was received from an in-region European reseller that is contractually required to distribute the products to the European military end customer.
A significant portion of this hardware is on the shelf with deliveries and payments expected to be completed in Q1 next year.
No additional material conditions need to be satisfied.
“Over the past three years, DroneShield has received 15 contracts from this reseller totalling over $86.5 million. There are no obligations for any additional contracts from this reseller or end customer,” the company said.
Last month, the Sydney counter-drone developer released a public statement acknowledging deficiencies in recent stakeholder engagement after a tumultuous period on the Australian Securities Exchange.
The company, in a statement on 24 November, confirmed that “its level of stakeholder engagement may not have met expectations at a time when company resources were focused on engaging with the Australian Securities Exchange in relation to its recent queries”.
The statement stemmed from investor fallout after an announcement on 10 November and the sale of shares by company leadership. The DroneShield statement reported that US contracts were “inadvertently marked as new contracts rather than revised contracts based on the error in correspondence from the customer and an administrative error”.
