Electro Optic soars +35% on $125M order for anti-drone laser
Electro Optic Systems (ASX:EOS) has soared right out the gate on Tuesday up +35% as it declares an order for a high powered laser weapon valued at $125M.
The nature of that weapon is perhaps of most interest, beyond the fact EOS is declaring a $125M contract win. EOS has been tasked with creating a 100Kw-powered laser capable of “[defending] against drone swarm attacks.”
In short, it sounds like a high powered laser that can shoot down drones at something closer to the speed of light than conventional bullets or explosives.
And it’s something the company has been working on for a while.
“The high-power laser builds on these core competencies and substantially extends them,” EOS wrote, referencing more conventional munitions.
“The EOS development program included three years of field testing and numerous firing trials of the laser in close collaboration with customers.”
The Ukraine-Russia war has demonstrated to everybody that drones are the future of warfare; in somewhat more recent times, Ukrainian forces have pivoted to using drones connected to fibre optic wire that can’t be jammed.
The customer receiving the laser from EOS is a ‘European NATO Member State’ left undisclosed; with the order to be fulfilled across the next 3 years from EOS’s Singaporean operations.
EOS last traded at $3.99/sh.
Electro Optic Systems (ASX:EOS) has soared right out the gate on...
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$4.98 |
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0.060(1.22%) |
Mkt cap ! $960.9M | |||
| Open | High | Low | Value | Volume |
| $4.90 | $5.15 | $4.75 | $18.98M | 3.797M |
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| No. | Vol. | Price($) |
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| 1 | 474 | $4.97 |
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| $4.98 | 1019 | 1 |
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