Electro Optics Systems secures $17m in new US orders, progresses Goldrone talks
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The news: Counter-drone technology company Electro Optic Systems has announced two new contract wins in the US totalling a combined $17 million.
The context: EOS has secured one contract to deliver and deliver remote weapon systems (RWS) to the US Army, as part of an ongoing development program, with manufacturing taking place in Huntsville Alabama.
The other contract will see EOS produce RWS for major US defence manufacturer Northrop Grumman for counter-drone applications.
EOS also said discussions with South Korea’s Goldrone have progressed in February and March following the announcement of a USD80 million ($117 million) conditional contract in December.
In February a short report published by New York-based short seller Grizzly Research claimed the order for a high energy laser weapon was “a smoke and mirrors show to mislead investors” and described Goldrone as “a tiny agricultural drone company that seems to lack the resources to buy USD80 million worth of products and services from EOS”.
EOS said today that recent discussions included the potential to manufacture a first unit in South Korea, rather than Singapore as previously planned. The talks have culminated in the development of a shared action plan to convert the contract to unconditional.
EOS now believes the conditional contract could be converted to an unconditional contract in Q2 2026, but said “there is no certainty that this will occur.”
The source: ASX
