US drone maker Powerus signs Pakistan Army MOU, gets initial order
ISLAMABAD: US drone firm Powerus has signed a memorandum of understanding with the Pakistan Army that includes an initial drone-related order, co-founder Brett Velicovich told Reuters on Wednesday. Velicovich declined to provide details, citing security sensitivities, but said the deal fell within the category of unmanned aerial systems. He also declined to disclose the value of the order, citing…
US drone manufacturer Powerus has established a memorandum of understanding with the Pakistan Army, which includes a first drone-related contract, according to co-founder Brett Velicovich. The exact nature and monetary value of the agreement remain undisclosed due to security concerns. Powerus, known for providing aerial and maritime drones for military and industrial applications, is set to merge with Aureus Greenway Holdings, a publicly traded company backed by Donald Trump Jr. and Eric Trump, sons of former US President Donald Trump.
The combined entity is projected to finalize the merger in early October. Aureus Greenway Holdings holds a 9.9% beneficial ownership stake in the joint entity following the merger, as per U.S. regulatory disclosures. In March, Powerus representatives met with Pakistan's Field Marshal Syed Asim Munir to discuss defense procurement, production, and long-term capacity building.
The meeting took place in Islamabad, though the military's media department has not confirmed the memorandum of understanding or responded to inquiries about the agreement. The recent development follows improved diplomatic relations between the two nations since Donald Trump Jr. and Eric Trump invested in Aureus Greenway Holdings after their father's presidency.
Andrew Fox, Powerus' CEO, noted that Pakistan's defense sector is still in its early stages and could benefit from U.S. technology, suggesting a potential joint venture between the two nations. Fox emphasized that Powerus' expansion is merit-based and independent of any Trump family involvement. Donald Trump Jr. confirmed that his role with Powerus is limited to an indirect investment and he had no input in contract negotiations.
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