Shares in drone firm soar higher

SHARES in counter-drone technology company Department 13 have soared after it signed a sales deal with US defence titan Raytheon.

The agreement will allow D13 to use Raytheon’s clout to help market its Mesmer counter-drone technology to clients around the world.

Shares in Department 13, which is based in the US but listed on the ASX rallied 3.2¢, or 38.6 per cent, yesterday to 11.5¢. Chief executive Jonathan Hunter said his D13’s patented system allowed users to protect personnel and infrastructure from drones by detecting them and then either stopping, redirecting, or taking control of the aircraft.

Mr Hunter said sales were tracking well, with nine Mesmer version 1.5 units sold since August 1 last year. Raytheon had $US27.8 billion ($35.4 billion) in sales in 2016.