DroneShield shares lift on US contract
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More news: DroneShield shares advanced at market open after the defence tech company secured a $13.5 million repeat order from a US government customer for a number of its counterdrone systems.
Shares were up 4.3% to $1.39 by 10:55am AEDT, having rocketed more than 400% in the last 12 months.
DroneShield secures $13.5m US government order
The news: Defence tech company DroneShield has received a repeat order of $13.5 million from a US government customer for a number of its counterdrone systems.
The context: The order, which Sydney-based DroneShield expects to deliver in full this quarter, follows a separate $3.1 million US government contract announced last month.
What they said: "Our team appreciates the opportunity to support this urgent requirement and continue to build strong relationships with our federal partners," DroneShield US chief executive Matt McCrann said.
"Providing solutions that deliver a decisive advantage to our end users is what we strive for — the speed and scale at which we can now deliver, speaks volumes of our team members and their commitment to our customer and their mission."
The source: ASX announcement
