EOS secures US$124m counter-drone order and UAE JV
Key points
- Secured US$124m counter-drone order from UAE's Gen5
- Established conditional JV for laser weapons and RWS
- JV aims to boost HELW technology and market access
Full summary
Electro Optic Systems Holdings Limited (EOS) has secured a significant US$124 million (~A$175 million) order for its Slinger Counter-Drone Remote Weapon System (RWS) from Generation 5 Holding L.L.C (Gen5), a UAE-based defense equipment provider. The order includes the RWS, cannon, spares, training, and other supplies. Additionally, EOS has entered into a conditional joint-venture shareholders agreement with Gen5 to establish a joint venture for the development, manufacturing, and global distribution of high-energy laser weapons (HELW) and RWS in the UAE and MENA region. The JV aims to accelerate the development and production of next-generation HELW technology, produce HELW systems for local and regional markets, and further strengthen EOS's global technology leadership.
Guidance
No specific guidance provided
Outlook
The JV is expected to start contributing to EOS results from 2027 or 2028 onwards, subject to conditions and approvals.
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