Electro Optic Systems Holdings (EOS) has secured a conditional contract with SpetsTechnoExport (STE), a Ukrainian state-owned foreign trade enterprise, to supply Remote Weapon Systems (RWS) to Ukraine, valued at up to USD 80 million (AUD 120 million).
As part of the agreement, EOS will provide Ukraine with up to 100 EOS-heavy RWS systems, together with replacement parts and related services, as announced in a press release.
The contract envisions supply during 2023 and 2024, subject to demonstration testing over the coming weeks and other customary terms for military contracts.
Consistent with typical wartime contract arrangements, the contract is also subject to conditional early termination rights in favour of STE.
In order to complete this contract, EOS will rely on a support network and supply chain comprised of over a hundred vendors situated throughout Australia, and others internationally.
According to EOS, the RWS is a long-standing product that is meant to outperform any competitor system in terms of accuracy and reliability.
The company claims that over 2,500 units have been sold, and it is now used by military forces in Australia, North America, Europe, and South-East Asia.
Moreover, EOS said it continues to work on other opportunities relating to Ukraine, including opportunities for direct supply to Ukraine, and to other countries providing support to Ukraine.
These discussions do not guarantee that any specific result or transaction will occur, according to EOS.
EOS said it will update the market as necessary.
Founded in 1998, SpetsTechnoExport specialises in the export and import of products and services of the defence industry, cybersecurity, innovation development, and establishing defence and technical cooperation with partner countries.
