DroneShield to 'significantly' expand US R&D operations
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More news: DroneShield shares climbed in early trading after the counter-drone technology company announced plans to expand its research and development operations in the US.
Shares were up 8.8% to $3.60 at 11:50am AEST, taking gains to 194% over the last 12 months.
DroneShield to 'significantly' expand US R&D operations
The news: Counter-drone technology company DroneShield said it is "significantly expanding" its research and development (R&D) operations in the United States, including adding a second location to its US headquarters in Virginia.
The numbers: DroneShield said it will more than double its workforce in the US, with over 30% of the new roles dedicated to software development and strengthening its AI team and capabilities.
The context: The latest US plans follow the company’s recent announcement of its expansion of production facilities in Australia and new office established in the European Union.
DroneShield said it is making a "concerted effort" to broaden its international footprint and establish a stronger physical presence near customers in key markets.
The expanded US facility will help DroneShield to accelerate its product development cycles and better service its growing customer base, the company said.
What they said: “As we continue to scale our operations globally, this expansion in the US plays a crucial role in enhancing our ability to innovate and deliver advanced solutions for the evolving defense industrial base right here in the US,” said Matt McCrann, US CEO of DroneShield.
“We’re investing in the future of defense, and our growing footprint and impact in the US market directly supports that effort.”
The source: DroneShield media release
