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Highlights
- A DroneShield equipment was deployed at the World Economic Forum, 2022, held in Davos, Switzerland.
- This global level economic event sees world’s top leaders coming together to discuss economic issues and their potential solutions.
- DroneShield is continuously trying to increase its presence in the tier 1 global events sector.
The share price of DroneShield Limited (ASX:DRO) gained 2.777% and was quoted at AU$0.185 a piece at 11:33 AM AEST on the ASX on Wednesday. The shares outperformed its benchmark index, ASX 200 Industrials (XNJ) which was 1.100% down at the same time.
DroneShield shares have diminished by 17% in last five trading sessions. In past 12 months, the shares have gained 8.82% (As of 11:31 AM AEST, 15 June).
Today (15 June 2022), through an ASX-announcement, DroneShield shared that its equipment was installed at the World Economic Forum (WEF) Annual Meeting 2022, held in Davos, Switzerland. The event took place on 22-26 May 2022. With this, the company expands its presence in tier 1 global events sector.
DoneShield is a capital goods company that offers multi-mission and multi-domain threat protection solutions through its Artificial Intelligence (AI) based platforms. The company provides counter-drone and electronic warfare protection solutions.
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DroneShield’s equipment at World Economic Forum
Image source: © Icefields | Megapixl.com
World’s top leaders from various fields like business, politics, academia, civil society, art and media participated in the WEF. The event brings together around 2,500 leaders to discuss global issues and tentative solutions to those issues.
Swiss Police provided security at the event. The security team used DroneShield’s RfPatrol body-worn detection technology. The technology efficiently provides real-time drone awareness against privacy and terrorist threats.
The radio size and 1kg weight of RfPatrol offer a unique capability for events like WEF for law enforcement personnel.
Oleg Vornik, CEO of DroneShield, highlighted that RfPatrol is an ultra-light and highly differentiated device. It uses AI to detect a variety of drones in real-time. Moreover, the device is capable of detecting never-seen-before threats by employing its AI algorithms.
The company has not disclosed the dollar value of the deployment. With this event, the company has been able to mark its presence in tier 1 global events. Also, it has been able to increase the profile of its products with customers like military personnel and law enforcement.
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