DroneShield wins EU police force contract to improve national security
DroneShield’s DroneGun Tactical product was selected, through a tender process, as the preferred solution by the European Union police forces.
Drone detection technology developed by Australian firm DroneShield (ASX: DRO) has been selected by police forces in the European Union as a preferred solution to improving national security threats.
The company’s DroneGun Tactical long-range portable drone countermeasure was chosen following a competitive tender process managed by Belgium Police, with an EU-wide framework.
Under the framework agreement, DroneGun Tactical is expected to be rolled out across a range of EU police units, with initial orders commencing in the current quarter.
World-first rollout
DroneShield chief executive officer Oleg Vornik said the contract signifies a world-first rollout of counterdrone equipment by a government customer.
“This selection by a highly-demanding customer reinforces the world leading position of our products in the industry,” he said.
“We expect this will set a standard for DroneGun Tactical procurement by other government customers in the EU and globally.”
He said there is potential for the contract to help fast-track additional acquisitions of DroneShield’s other security products to EU police departments.
Drone protection
DroneShield was established in response to the growing use of consumer drones for “unethical purposes”, and the resulting need for effective countermeasures to drone intrusions.
“We developed our products with the belief that comprehensive drone protection involves detection and disruption,” Mr Vornik said.
“We aim to help public and private sector customers take proactive measures against airborne threats to [their] safety, security, and privacy.”
DroneGun Tactical works against a range of drone models to neutralise potential threats, and can complement existing security solutions at government sites.
The battery-powered, single rifle-style product allows for coverage of up to 2 kilometres and requires minimal technical training.
Mr Vornik said sales, training and local support for the EU contract would be managed by DroneShield’s Benelux region partner ForcePro BV.
“This contract illustrates that security is at the forefront of governments globally and that after a brief interruption caused by COVID-19, global procurement processes have resumed,” he said.
Grant loan facility
Earlier this month, DroneShield announced it had entered into a deal with R&D Capital Partners for the provision of a grant to the equivalent of the Australian government’s 2020 research and development tax incentive amount.
Under the terms of the deal, DroneShield has elected to drawn down $600,000 immediately as a loan.
The company expects to receive approximately $880,000 this month in relation to its 2019 research and development activities.
The $1.48 million in expected proceeds from 2019’s incentives and the R&D Capital loan will be used for further research and development, sales and marketing, and general working capital.
At midday, shares in DroneShield were trading 66.67% higher at $0.175.