Drone startup tied to Trump sons aims to bring Ukrainian tech to US

• Powerus reported only $1.2 million in first-quarter sales and had no revenue-generating operations at the start of 2025, making it an early-stage company despite recent deal activity
• The company secured a potential $90 million US Air Force award and a $22.3 million commercial deal, while pursuing partnerships with Ukrainian defense firms and Gulf states
• Recent agreements include a limited order from Pakistan's defense ministry and a previously unreported memorandum of understanding with the Pakistan Air Force for potential technology cooperation

Market Summary: Powerus Drone Startup Eyes Public Listing with Trump Family Backing

Key Development:

U.S. drone startup Powerus is set to go public in early October 2024 through a merger with Nasdaq-listed Aureus Greenway Holdings, a golf course operator backed by Donald Trump Jr. and Eric Trump. The Trump brothers' investment fund, American Ventures, will hold a 9.9% beneficial ownership stake in the combined company.

Company Profile:

Powerus, incorporated in October 2023, represents an early-stage venture despite recent activity. The Florida-based company reported just $1.2 million in first-quarter sales after having no revenue operations at the start of 2024. The firm introduced Guardian interceptor drones in March through joint development with Ukrainian partners.

Strategic Focus:

The company aims to serve as a "one-stop solution" for the Pentagon by acquiring foreign military technology—particularly from Ukraine—and manufacturing it domestically. President Brett Velicovich, a former U.S. Army Special Operations analyst, is pursuing growth through acquisitions, foreign partnerships, and domestic manufacturing.

Recent Contracts:

• U.S. Air Force award worth up to $90 million
• $22.3 million commercial deal with undisclosed customer
• Limited order from Pakistan's defense ministry
• Memorandums of understanding with Pakistan Air Force

Market Context:

The venture capitalizes on surging Pentagon demand for autonomous systems following Ukraine's war, which highlighted battlefield drone importance. The Trump brothers are also backing other military tech companies, including Israeli drone maker XTEND AI Robotics, which went public in September 2024.

Performance Note:

Powerus' MatrixFold quadcopter failed to make the leaderboard in the Pentagon's $1 billion Drone Dominance program, with electronic warfare requirements proving particularly challenging.