Powerus says it signed memorandum with Pakistan army and received initial order — Dawn
US company Powerus said it had signed a memorandum of understanding with the Pakistan Army that provides for an initial order in the field of unmanned systems. Company co-founder Brett Velicovich told Reuters this, Dawn reports.
Details of the agreement
Velicovich did not disclose the specifications or value of the order, citing security considerations and confidentiality. According to him, the agreement concerns unmanned aerial systems.
Powerus offers aerial and maritime drones for military and industrial use. The company is also considering the possibility of manufacturing technology in Pakistan. Velicovich said the goal is a technology partnership combining technologies from the United States and Pakistan.
Meeting in Rawalpindi
On September 16, a Powerus delegation led by Velicovich met at the General Headquarters in Rawalpindi with Pakistan’s Chief of Defence Staff and Chief of Army Staff, Field Marshal Asim Munir. Pakistan’s Inter-Services Public Relations said the sides discussed defense procurement, production, and long-term capability building.
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At the same time, the Pakistani military media service’s statement did not mention the memorandum. It also did not immediately provide Reuters with a comment on the agreement outside working hours.
Powerus founder and CEO Andrew Fox said Pakistan’s private defense sector is still emerging and is not mature, which, in his view, leaves US companies an opportunity to move faster.
Planned merger
Powerus is planning a merger with public company Aureus Greenway Holdings, backed by the sons of US President Donald Trump — Donald Trump Jr. and Eric Trump. The companies expect to complete the deal in early October.
According to US regulatory filings, investment fund American Ventures, through which Trump’s sons own a stake in Aureus, will hold 9.9% beneficial ownership in the combined company after the merger. A representative of Donald Trump Jr. said he is a passive investor and did not know about the deal in advance and did not participate in its negotiation, conclusion, or execution.
