U.S. regulator has granted an approval for sale of 70 DroneGun TacticalTM units for use by a Middle Eastern Ministry of Defence, as announced in June 2018.
Deposit for the order received.
DroneShield is preparing shipment for despatch to the customer.
On 14 June 2018,DroneShield Ltd (ASX:DRO)(“DroneShield" or the “Company”) advised the market that it had received a $3,200,000 order for 70 DroneGunsTMfor use by a Middle Eastern Ministry of Defence. The announcement stated that the Company’s ability to fulfil the order was subject to approval by the relevant U.S. regulator, and that there were no guarantees that the approval for that particular order would be granted. The Company is pleased to advise that the relevant U.S. governmental approval has now been granted.
For clarity, only some of the Company’s potential orders require such approval since sales of some of the Company’s products do not require regulatory approval, and sales the Company’s restricted products to a number of countries allied with the United States do not require such approval.
This approval is for the largest order for the Company’s products to date, and for the largest known order for tactical drone mitigatioin products globally in the short history of the drone security industry.
DroneShield has received a deposit in relation to the order, is currently in the process of manufacturing the products for this order, and expects to deliver the first batch of DroneGunsTMto customer by the end of September.
Oleg Vornik, DroneShield’s CEO, commented “This regulatory approval represents an important step in DroneShield’s history with a green light to deliver on our first multi-million dollar order. With the company’s near term pipeline containing multiple multi-million dollar potential orders, this clearance gives us and our customers the confidence that we will be able to deliver our industry-leading products to a wide range of qualified end-users.”