Powerus Lands Contract for Counter-Drone System in Middle East Oil and Gas Sector

American drone and autonomous systems company Powerus has announced a commercial contract for a counter-drone system to protect oil and gas facilities in the Middle East. The company, which is set to go public through a reverse merger with Aureus Greenway Holdings Inc., will provide hardware, software, site activation, installation, and an integrated maintenance program.

The system, described as a detection, tracking, classification, and early-warning capability, will have centralized command installed at the client's operations center. However, interception is not included at this stage, with Powerus planning to accommodate its own interceptor in later phases.

The contract value represents a ceiling, rather than a firm order backlog or acquired revenue, as payments are tied to milestones and the client has the right to terminate or reduce the scope of the project. Additionally, Powerus must obtain US export licenses, which may be delayed, denied, or granted with conditions.

The reverse merger with Aureus Greenway Holdings Inc., a Nasdaq-listed company that operates two golf clubs in Florida, is expected to complete soon. Andrew Fox, founder and chief executive of Powerus, will become the chief executive and chairman of the combined entity, while Brett Velicovich, co-founder and president of Powerus, has been designated as the source of the remarks quoted in the press release.