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Pakistan Army signs Powerus MoU linked to 2 Trump sons
The Indian Express··18 Sept
US drone firm Powerus signed a memorandum of understanding with the Pakistan Army and secured a first order, co-founder Brett Velicovich told Reuters. He said the deal covers unmanned aerial systems but withheld the order value. Powerus plans to merge with Aureus Greenway Holdings in early October. Donald Trump Jr and Eric Trump hold an Aureus stake through American Ventures.
Prism
What It Means For You
- The MoU adds another US unmanned-systems vendor relationship for Pakistan's army procurement talks.
- Order value and system details remain undisclosed on security and confidentiality grounds.
- Powerus says it is also exploring building some technology inside Pakistan.
What's Happening
- Velicovich confirmed the MoU and first order to Reuters; neither had been reported earlier.
- Pakistan's army said a Powerus team met Field Marshal Asim Munir this week on equipment and local industry plans.
- Andrew Fox, Powerus CEO, said Trump family involvement did not win the firm's contracts.
Who Backs the Merger Target
- Powerus expects to merge with Nasdaq-listed Aureus Greenway Holdings in early October.
- American Ventures, linked to Donald Trump Jr and Eric Trump, is expected to own close to a tenth of the combined company.
- A Trump Jr spokesperson called him a passive indirect investor with no role in this deal.
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