DroneShield Ltd is pleased to advise its counterdrone equipment has been selected to deploy to Ukraine under the latest Australian Government aid package. The Company has received multiple orders from the Australian Government as part of a $20 million dollar military assistance package to Ukraine, with a total value to DroneShield of $10.4 million. $5 million of cash receipts from the $10.4 million total was included in the record $48.2 million cash receipts YTD to 20 October, announced earlier this week in DroneShield’s latest quarterly 4C release. The remaining cash receipts are expected to be received prior to end of 2023.
The Hon Richard Marles, Deputy Prime Minister of Australia and Minister for Defence, said: “Australia continues to stand with Ukraine as we work with our partners to support Ukraine’s sovereignty and territorial integrity.”
The Hon Anthony Albanese, Prime Minister of Australia, said: “This contribution will provide Ukraine with some of the best capabilities in the world, while investing in Australia’s sovereign defence industry and technology sector.”
Oleg Vornik, DroneShield CEO, said: ”Russian drone attacks on Ukraine have been a regular occurrence since the start of the war. DroneShield is pleased to be supplying our drone detection and defeat systems to Ukraine under this sovereign aid package.”
DroneShield (ASX:DRO) is an Australian/U.S. publicly listed company focusing on RF sensing, Artificial Intelligence and Machine Learning, Sensor Fusion, Electronic Warfare, Rapid Prototyping and MIL-SPEC manufacturing. DroneShield develops pre-eminent UAS security solutions that protect people, organisations and critical infrastructure from intrusion from UAS threats. Its leadership brings world-class expertise in engineering and physics, combined with deep experience in defence, intelligence, and aerospace. DroneShield commenced operations in 2014 in Virginia, USA. In 2016, the company listed on the ASX, and the business became substantially Australian owned over the recent years, with approximately 8000 shareholders. The team today is split between Sydney and Virginia. In addition, the company maintain a vibrant community of in-country partners in over 120 countries around the world.