- Saskatoon-based drone developer Draganfly (DFLY) has finalized a definitive agreement with Integrated Launcher Solutions
- Draganfly will help the company to develop a drone-based non-lethal air support defence system
- The contract provides for the development, prototyping, and eventual production of a non-lethal 40mm multi-launching systems
- The main use case of the launch system is public disturbance management for military and public safety organizations
- Draganfly is down 3.07 per cent, trading at $1.58 at 12:54 pm ET
Saskatoon-based drone developer Draganfly (DFLY) has finalized a definitive agreement with Integrated Launcher Solutions.
Draganfly will help the company to develop a drone-based non-lethal air support defence system.
The contract provides for the development, prototyping, and eventual production of a non-lethal 40mm multi-launching systems.
The systems would be able to be mounted and deployed from drones, drone systems, robots, robotic systems, and other stationary platforms or similar systems.
The main use case of the launch system is public disturbance management for military and public safety organizations.
Draganfly will provide ILS with its development and engineering expertise in connection with the project.
ILS is a systems development and technical integration services company headquartered in Ontario with operations in Florida, with a vision to continually improve launch, range, and space systems for its client base of US defence organizations and contractors.
“The Draganfly team is honoured to be providing the right set of expertise, engineering, and management on the development of this very important drone technology for ILS. I am confident that the Draganfly team will provide the right set of expertise and management to develop the non-lethal ILS Air support Defence System,” said Draganfly CEO Cameron Chell.
ILS has granted Draganfly a worldwide royalty equal to 8 per cent of the gross revenue received from the project for a period of five years from earlier of the repayment date or maturity date of a C$150,000 loan.
Draganfly is down 3.07 per cent, trading at $1.58 at 12:54 pm ET.
