DroneShield Limited (ASX:DRO) Secures $11.7M DoD Research Contract
Contract Details
DroneShield Limited (ASX:DRO) has been awarded a follow-on two-year research and development contract worth $11.7 million by the Five Eyes Department of Defence. This is the fourth R&D award from the same DoD customer, adding to previously secured contracts totaling approximately $14.4 million.
Executive Comments
Oleg Vornik, DroneShield’s CEO, commented, “Multiple follow-on contracts are the ultimate customer measure of our performance. As an Australian sovereign business, providing capabilities globally, DroneShield is proud to continue undertaking multi-year contracts of a meaningful size with this customer.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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