DroneShield shares jump on plans for $13m R&D facility
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More news: DroneShield shares gained in morning trade on news that the counter-drone technology manufacturer will open a new $13 million R&D facility in Adelaide.
Shares were up 4% to $6.54 at midday AEDT, having rocketed 392% over the last 12 months.
DroneShield to invest $13m in Adelaide R&D facility
The news: Counter-drone technology company DroneShield will invest $13 million over three years to establish a new R&D facility in Adelaide.
The numbers: DroneShield said the new facility will create around 20 high-skilled engineering roles in Adelaide, as the company surpasses 400 employees globally this week.
The context: The new facility will be led by Jeff Wojtiuk, a former Lockheed Martin Australia defence engineering leader.
DroneShield said it picked the Adelaide location due to its proximity to leading global defence and aerospace organisations, and established infrastructure supporting advanced technology development, particularly in electronic warfare (EW) and radiofrequency systems.
The new site is expected to be up and running by March 2026.
What they said: "South Australia is recognised as a national leader in defence and space industries, with Adelaide home to a highly skilled and experienced workforce," said DroneShield CEO Oleg Vornik.
"Establishing our first R&D office in Australia outside of our Sydney headquarters — in Adelaide — is a strategic move that supports DroneShield's mission to deliver world-leading counter-drone and EW solutions."
South Australian premier Peter Malinauskas commented: "We welcome DroneShield making the choice to conduct research and development here in Adelaide, creating 20 highly skilled engineering roles.
"As a government, we have a strong focus on growing our research and development ecosystem, which has the capacity to build our economic complexity and our state's prosperity."
The source: ASX
