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Trump-linked Powerus eyes Ukrainian drone tech for U.S.

U.S. drone startup Powerus is looking to bring Ukrainian and other foreign defense technology to the U.S. as the Pentagon's demand for drones grows, Reuters reported on Wednesday.

The Florida-based company is preparing to go public via a merger with Nasdaq-listed Aureus Greenway PUSA. Donald Trump Jr. and Eric Trump have an indirect stake in the company through American Ventures, which is expected to own 9.9% of the combined business.

Powerus executives told Reuters that they are now in talks with Ukrainian defense technology firms to add capabilities, including long-range attack drones, and expand U.S. manufacturing.

The company reported $1.2M in first-quarter sales after acquiring several drone businesses.

Its Guardian interceptor drones were jointly developed with Ukrainian partners. Powerus has also secured a U.S. Air Force award worth up to $90M and a $22.3M Middle East infrastructure deal.

The company also secured a limited Pakistani defense order and signed preliminary cooperation agreements with the Pakistan Army and Pakistan Air Force, Reuters reported.

Powerus President Brett Velicovich said the broader goal is to combine foreign defense technology with U.S. manufacturing and offer the Pentagon an American-based supplier.DisclaimerContent provided by Seeking Alpha is intended for information purposes only, and that Seeking Alpha does not offer any personalist investment advice and is not a licensed securities dealer, broker, US investment adviser or investment bank.