Successful Completion of Defence Innovation Hub Project
DroneShield Ltd (ASX:DRO) (DroneShield or the Company) is pleased to announce that it has delivered all Contractual elements of the Artificial Intelligence Computer Vision System (ACVS) program to the Australian Department of Defence under the Phase 2 Defence Innovation Hub program originally announced in November 2021.
The contract value is approximately $800,000. The contract amount has been fully received by DroneShield through milestone progress payments, made up to the end of 2022.
The program has resulted in significant improvements to DroneShield’s optical/thermal AI DroneOptID™ engine, as well as development of a ground-breaking multi-Sensor Fusion Artificial Intelligence (SFAI) engine that is expected to be a core part of DroneShield’s Command-and-Control system DroneSentry-C2™ in 2023.
After the final demonstration to a wide variety of Defence stakeholders, DroneShield CTO Angus Bean commented, “It is clear that the multi-sensor fusion system created by DroneShield is truly unique on a global scale. The algorithms and architecture being used are producing excellent user outcomes, without the ‘server-farm’ levels of compute-power that similar systems require. The SFAI system represents a significant step-change in our C2 capability”.
DroneShield CEO, Oleg Vornik, added “The Australian Government’s Defence Innovation Hub funding and project support has been critical in accelerating this technology and making it a reality. Development of sovereign industry capability is a key stated priority of the Australian Government. The Defence Innovation Hub is driving this commitment by supporting Australian companies to build real sovereign capability in Australia, by Australians.”