Electro Optic Systems secures US$124M order

• Electro Optic Systems has secured a US$124 million counter-drone system order from United Arab Emirates firm Generation 5 Holding.
• The company's shares increased by 14.24% following the return from a trading halt.
• This order strengthens the strategic relationship between both companies ahead of an upcoming joint venture.

Electro Optic Systems (ASX:EOS) has secured a US$124 million counter-drone weapon system order from the United Arab Emirates.

This contract follows a substantial period of growth where the company's shares gained nearly 300% over the past year.

Electro Optic Systems will manufacture and deliver the systems during 2027 and 2028.

The company stated that the two parties have also agreed to establish a joint venture for laser weapons.

Following the announcement the Electro Optic Systems share price was up at $10.67.

The business recently completed a $150 million institutional placement to fund its acquisition of defence company MARSS.

Shareholders will vote on a conditional $30 million strategic share placement to Generation 5 Holding on June 26.