Mobilicom to provide Commercial Drone Upgrade to Israel Navy for over $280k

Australia-based Mobilicom Limited (ASX: MOB) is engaged in the design, manufacturing and delivery of communication solutions based on a unique approach that combines the 4G and Mobile MESH technologies. Mobilicom’s operates via two key business entities- The Core Business Entity develops solutions for mission-critical communication in the Government and Enterprise sector with applications in offshore Oil, Gas & Energy; HLS & Public Safety; Robotics & Unmanned Vehicles and Security & Surveillance; and the Skyhopper Business Entity, primarily offers solutions and end-to-end equipment to the Commercial Drone & Robotics sector.

Mobilicom’s technology is based on five pillars:

               

Source: Company’s Website

Today (on 27 May 2019), Mobilicom announced that it has bagged a new contract from its leading reference customer, the Israel Navy for the company’s breakthrough Commercial Drone Upgrade Solution. The order is valued for more than $280,000.

The Commercial Drone Upgrade Solution is an after-market add-on for those drone units that are already operating in the market. It was developed due to the US ban on the application of specific drone types in security operations to mitigate backdoor cyber risks.

To date, Mobilicom’s has sold this solution to the Israel Army, and the recent purchase order demonstrates an increased interest for the solution across several Israel Ministry of Defense (MOD) units and applications.

This system of Mobilicom’s has now generated revenues to the value of over $ 850,000 from the MOD in 2019 alone, with several repeat sales. Thus, the company is well on track to achieve its target of $ 1 million from the MOD by the end of the calendar year 2019.

Commenting on the latest transaction, Mobilicom’s CEO Oren Elkayam quoted, “Providing the Commercial Drone Upgrade Solution to a new customer and application is a testament to its offering of a solution in high demand by the market it serves. The Israel Navy is an excellent reference that will support the continued expansion of the solution within the MOD and worldwide. Mobilicom has already been made the sole provider for this solution to the MOD, and therefore, the revenue potential is significant.”

Previously, on 29 April 2019, Mobilicom had informed of another purchase order valued at over $200,000, received from Japan-based Nippon Telegraph & Telephone Corporation (NTT), a leading telecommunications company. In addition, NTT also indicated that it may place multiple orders every year.

The purchase order kits with around ten of Mobilicom’s MCU products would be delivered to the Japanese Self Defense Forces (SDF) for disaster relief initiatives across the nation. The Japanese SDF has naval, ground as well as air divisions, each having a presence across each of the cities and prefectures in Japan. This presents Mobilicom with a great future opportunity for its products to be deployed in various geographies and divisions.

With around 256.94 million outstanding shares and a market capitalisation of AUD 24.67 million, the MOB stock’s closing price was of AUD 0.099, edging up 3.125% by AUD 0.003 with ~ 351,514 shares traded.

Recently, Mobilicom’s Director, Jonathan Keith Brett earned indirect interest in the company via Dalesam Pty Ltd, on purchase of 250,000 fully paid ordinary shares issued as part of his remuneration package (non-cash), at a deemed issue price of $0.08 (aggregate $20,000.00).


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