The Company believes the investment by KCGI supports Powerus's strategy to build a resilient, ally-sourced manufacturing base for its autonomous systems platforms that is expected to reduce dependence on foreign supply chains from non-allied nations and facilitating production capacity in countries with aligned with the United States's national security interests.
Matthew J. Saker, Interim Chief Executive Officer of AGH stated, "The need for and uses of autonomous technologies, such as those produced by Powerus, remain front page news given developments in the Middle East and elsewhere. I believe the business combination in connection with today's investment supports this being a compelling opportunity for Aureus Greenway Holdings stockholders."
"This investment allows us to build at the pace the mission requires," said Andrew Fox, Founder and Chief Executive Officer of Powerus. "Scaling production in the United States and South Korea, with an ally-sourced supply chain, is not just a business decision. It is the right way to build defense technology at a moment when the origin of components and the integrity of the supply chain matter as much as the capability of the system itself."
Kang Sung-boo, Chief Executive Officer of KCGI, added: "Autonomous defense systems built on trusted supply chains and manufactured by allied nations represent exactly the kind of long-term infrastructure investment KCGI was designed to support. In partnership with Powerus, we aim to develop a robust drone manufacturing ecosystem in Korea and deepen strategic collaboration with leading domestic drone and aerospace suppliers."
ABOUT POWERUS
Powerus builds and scales unified autonomous systems architecture designed to move, protect, and sustain critical assets in high-risk environments. The company develops next-generation autonomous drone infrastructure and technologies for defense and critical infrastructure, with production scaled through U.S.-based manufacturing and strategic partners. Powerus operates through wholly owned subsidiaries Kaizen Aerospace, Tandem Defense, and Agile Autonomy. For more information, visit power.us.
Merger Agreement
Powerus recently entered into a definitive merger agreement with Aureus Greenway Holdings Inc. (NASDAQ:AGH), which is expected to result in a combined company operating under the name "Powerus Corporation" upon meeting certain closing conditions including ...
