Mobilicom (ASX:MOB) receives AU$400K purchase order from Israel Aerospace

Highlights

  • Mobilicom has obtained a design win and an initial AU$400,000 purchase order from Israel Aerospace Industries (IAI) for use in IAI's new tactical drone system.
  • Post this announcement, the shares of Mobilicom increased by over 2% to trade at AU$0.046 per share on ASX at 3:59 PM AEST.
  • Mobilicom expects that the IAI Contract will increase future orders and licencing revenue for the company.

ASX-listed Mobilicom Limited (ASX:MOB) said that it has obtained a design win and an initial AU$400,000 purchase order from Israel Aerospace Industries (IAI) for use in IAI's new tactical drone system.

According to the company, under this contract, MOB will provide its SkyHopper PRO dual datalink units along with 10 touch mobile ground station controller to be used in IAI's advanced new serial vehicle tactical drone system.

Mobilicom is a company involved in the manufacturing and distribution of telecommunication equipment. The initial purchase order is a design win to meet IAI's first customer deployment. It promises the use of Mobilicom's innovative solutions within IAI's drone system, illustrating the effectiveness of Mobilicom's end-to-end strategy.

According to today's announcement, the delivery of Mobilicom's innovative solution units to satisfy the new purchase order is likely to be completed within Q3 2021.

Israel Aerospace Industries is a major aerospace and aviation manufacturer consisting of a product portfolio that includes drone solutions in several countries' defence & commercial markets. IAI has already obtained initial orders from the international customer base of its new lightweight aerial vehicle, designed to be promptly assembled and operated by a single person.

Meanwhile, the stock MOB was spotted trading over 2% up at AU$0.046 per share on ASX at 3:59 PM AEST.

Bottom Line: Mobilicom expects that the IAI Contract will increase future orders and licencing revenue for them.

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