"America had been losing the drone race for a while to countries like China, said Velicovich, a US Army special operations veteran who wrote a book called Drone Warrior. That era is over. We're entering the era of American drone dominance."
"Powerus, a West Palm Beach, Florida-based business, said Monday that it will go public in a deal backed by Donald Trump Jr. and Eric Trump. The company plans to combine with a Nasdaq-listed golf course operator, Aureus Greenway Holdings Inc., according to a statement."
"The move adds to other recent drone investments for the first family. Last month Eric Trump backed a $1.5 billion deal to take an Israeli firm that builds such tactical aircraft, Xtend, public in a merger with a Nasdaq-listed construction company."
Powerus, a West Palm Beach-based drone company, is going public through a merger with Nasdaq-listed Aureus Greenway Holdings, backed by Donald Trump Jr. and Eric Trump. The deal includes investments from the Korea Climate & Governance Improvement Fund totaling $50 million. Powerus owns three subsidiaries: Kaizen Aerospace, Tandem Defense, and Agile Autonomy. Co-founder Brett Velicovich, a US Army special operations veteran, states the company aims to expand acquisitions and pursue American drone dominance. This investment represents part of the Trump family's broader drone portfolio expansion, following Eric Trump's recent $1.5 billion deal involving Israeli drone manufacturer Xtend. The timing aligns with the Department of Defense's $1.1 billion initiative to procure hundreds of thousands of drones by 2027.
Read at www.mercurynews.com
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