Key Takeaways
- US drone company Powerus has signed a memorandum of understanding with the Pakistan Army.
- The deal includes an initial drone-related order, but details are not disclosed.
- Powerus is set to merge with a publicly traded company backed by Donald Trump's sons.
US drone firm Powerus has signed a memorandum of understanding (MoU) with the Pakistan Army, according to reports. Co-founder Brett Velicovich disclosed the news to Reuters on Wednesday, stating that the deal includes an initial drone-related order.
While Velicovich provided some details, he declined to disclose specific information, citing security sensitivities and confidentiality. The deal is categorized under unmanned aerial systems.
Powerus, which offers aerial and maritime drones for military and industrial use, is set to merge with a publicly traded company backed by two of US President Donald Trump's sons, Aureus Greenway Holdings. Both companies expect the merger to complete in early October.
American Ventures, an investment fund owned by the Trump sons, is expected to hold a 9.9% beneficial ownership stake in the combined company post-merger, according to US regulatory filings.
A Powerus delegation led by Velicovich met with Chief of Defence Forces and Chief of Army Staff Field Marshal Asim Munir. The meeting focused on defence procurement, production, and long-term capacity building, though the MoU was not specifically mentioned.
The military's media wing did not immediately respond to a request for comment on the agreement outside business hours.
Andrew Fox, Powerus' founder and CEO, stated that Pakistan's private defence sector remains 'emerging but still not mature,' leaving room for US firms to move faster. He added that Powerus is exploring ways to potentially build technology in Pakistan.
Fox dismissed suggestions that the company's growth was linked to the involvement of the Trump sons, stating that contracts were awarded on merit and that they had 'no involvement on the business side' of the company.
White House Special Assistant to the President and Principal Deputy Press Secretary Anna Kelly said, 'There are no conflicts of interest.'
The goal would be a joint technology relationship, pairing best-in-breed technology from the US with best-in-breed technology from Pakistan.
Brett Velicovich, Co-founder of Powerus
There are no conflicts of interest.
Anna Kelly, White House Special Assistant to the President and Principal Deputy Press Secretary
