DroneShield triples sovereign defence R&D and manufacturing capacity to $400m with new global headquarters
Following DroneShield’s recent $115m capital raise, the new site in Pyrmont, NSW, cements and scales DroneShield’s fully sovereign R&D and manufacturing capabilities DroneShield (ASX:DRO) has opened its new headquarters, tripling its research and development (R&D) and manufacturing capacity to more than AU$400 million in hardware and software per year as the company works to convert a sales pipeline of over $500 million. The new site is located in Pyrmont, NSW, where the company’s 120 local staff are based. The facility includes a dedicated floor for high-tech R&D, engineering and manufacturing to fulfil orders from government, defence and commercial customers in 70 countries. Funded by DroneShield’s recent $115m capital raise ($30m of which is subject to shareholder approval), which positions DroneShield – with around $700m current market capitalisation – as the second largest publicly-listed defence company in Australia, the new headquarters enable the company to expedite the build-up of inventory to support strong demand from high-quality customer opportunities. This includes a pipeline of over $500m with more than 90 qualified projects at different stages and $27m in orders currently being fulfilled. “The threats that drones can pose are finally being taken seriously,” said Oleg Vornik, CEO at DroneShield. “Whether it’s due to the turmoil they can cause on the battlefield, or the countless ways they can disrupt everyday life – at airports, prisons and public events, for example – drone deterrence is now a priority for government agencies and authorities, in Australia and abroad. “We are seeing a major push for comprehensive counter-drone and counter-UAS capabilities – predominately from the US, but broadly across Five Eyes and allies, and slowly but surely in Australia. However, our equipment is sophisticated, AI based technology that can take up to four months to build, containing up to 200 components that must be manufactured, assembled […]