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Droneshield Limited (ASX:DRO) has secured its first order in Asia for DroneGun Tactical. Last week on 3 October 2018, Droneshield Limited announced the sale of two units of its DroneGun Tactical products to high-profile Asian government agency allied with the United States.
As per the companyâs information, the sale was done through the droneshieldâs distributor GT&E after the end user completed the rigorous comparison with the range of competing drone security solutions.
Oleg Vornik, DroneShieldâs CEO stated that although the order would not have much impact on companyâs revenue, it validates the global business model of the company. He said that the company has witnessed a significant counterdrone track record in the region, including a deployment of its counter-drone products at the 2018 Olympic Games, earlier this year.
This order comes in a row to its recent $300,000 purchase order of Droneshieldâs two of the flagship products by a Central American government security agency. These two products include drone mitigation system DroneSentry and a countermeasure product DroneGun Tactical.
DroneSentry is an autonomous drone detection and countermeasure product which integrates company-built sensors and cameras to make the end user aware of the possible airborne threats and enable them to respond to those attacks immediately. It incorporates high end drone security technology including RadarOne radar and DroneOpt cameras. DroneGun Tactical is a jamming product which serves as a portable countermeasure against series of drone models. It allows for controlled management of drone payload resulting to vertical controlled landing of the detected drones on the spot or making them return to the starting point without causing any damage to surrounding environment.
In an announcement dated 2 October 2018, Droneshield told that the companyâs distributor M.G. Suber & Associates LLC has placed a $300,000 order for the purchase of DroneSentry and DroneGun Tactical units on behalf of Central American Government. [optin-monster-shortcode id="wxhmli4jjedneglg1trq"]
The company stated that the order was placed approximately seven weeks after the recent drone attack on Venezuelaâs head of state which has eventually drawn the governmentâs attention to the growing needs of counterdrone solution. The management concluded that counterdrone security is of immediate requirement in the Central America region on the back of escalating threats from drone attacks.
But the delivery of the order remains pending to the receipt of due approval from the U.S. authorities responsible for defense exports. However, Droneshield expects to receive the approval by the close of this year.
In clarification to such approval requirement, company told that only few orders are required to undergo this process, otherwise the sale of its products to countries allied with the United States does not require any such regulatory approval.
Further, the company has informed about the change in companyâs registered office address and principal place of administration with immediate effect from 2 October 2018.
Despite bagging significant orders from the government securities, the share price of Droneshield Limited plunged by 7.895% to $0.175 on 8 October 2018. In the last three months, the stock has seen a negative performance change of 2.56%.
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