Investing.com -- Ondas Holdings Inc (NASDAQ:ONDS) shares rose 6% in pre-market trading on Thursday. The reason for this is the announcement of an initial order of 500 Wåsp drones from Rift Dynamics, which will be used to start sales in the US defense market through its subsidiary American Robotics.
The Wåsp is described as a mission-ready, NDAA-compliant and expendable drone system designed to meet the U.S. Department of War's growing demand for "mass-capable and cost-effective" strike and perimeter defense platforms. It is manufactured by Kitron, a defense electronics manufacturer with production facilities in the US.
"This initial order for 500 units marks the beginning of a scalable program to deliver affordable, operationally effective and expendable drone systems to U.S. defense customers," said Eric Brock, Chairman and CEO of Ondas Holdings. The company noted that Kitron's production network enables scaling to more than 20,000 units per month worldwide within six months of order receipt.
