Mentioned:
The Department of War is all in on domestic drones. Which is exactly why they’ve just made their largest loan commitment ever.
What’s happening:
- Performance Drone Works has received a conditional loan commitment for up to $820M USD in debt financing from the the Department of War's Office of Strategic Capital
Why it matters:
- This is the single largest conditional funding commitments the Department of War has ever given to a private drone company in the United States
Going deeper:
- Performance Drone Works’ flagship military quadcopter known as C100 is capable of multi-mission reconnaissance and strike support with modular payloads
- The Department of War’s Office of Strategic Capital has publicly stated that the new loan to Performance Drone Works is focused on addressing important bottlenecks in the supply chain of drones and autonomous systems as well as increasing manufacturing capacity
- Ondas (NASDAQ: ONDS) and Booz Allen Hamilton (NYSE: BAH) are both notably investors in Performance Drone Works
The intrigue:
- The Department of War’s Office of Strategic Capital just recently made major waves when they gave a conditional funding commitment of $725M USD to Energy Fuels (NYSE: UUUU) to build out their rare earth processing operations
