Powerus signs MoU with Pakistan Army and receives initial drone order
US drone firm Powerus signed a memorandum of understanding with the Pakistan Army on Wednesday that includes an initial order for unmanned aerial systems.
Company merger details emerge
Powerus is scheduled to merge with Aureus Greenway Holdings, a publicly traded company backed by two sons of US President Donald Trump. Both entities expect the combination to finish in early October. American Ventures, an investment fund owned by Donald Trump Jr and Eric Trump, will hold a 9.9 per cent stake in the new entity.
Military delegation meets leadership
A Powerus team led by co-founder Brett Velicovich met with Field Marshal Asim Munir to discuss defence procurement and production capabilities. The Inter-Services Public Relations confirmed the meeting but did not mention the specific memorandum of understanding in their statement.
Specific order terms withheld
Velicovich declined to disclose the value of the initial order or provide further technical details due to security sensitivities. The military media wing has not commented on the agreement outside of business hours.
All 2 outlets report consistently
No differences in figures, names or dates across these reports.
- Dawn
- Business Recorder
Reported by
2 independent outlets. Headlines as published. Links open the original report.