The proposed investment targets technologies that PDW says remain dependent on foreign-controlled supply chains. Planned production areas include propulsion, power and control systems, vision systems and other enabling components.
PDW intends to combine the government financing with additional private capital. The company plans to supply U.S.-made components for its own aircraft and other domestic manufacturers.
The expansion would build on Drone Factory 01, PDW’s 90,000-square-foot facility in Huntsville, Alabama. The site brings engineering, flight testing, systems integration, production and fulfillment into one manufacturing operation.
“America’s ability to respond tomorrow depends on the industrial capacity we build today,” said James Slider, CEO of PDW. “This conditional commitment from the Department of War’s Office of Strategic Capital would support the critical need of strengthening domestic manufacturing and restoring America’s ability to build the capabilities our nation depends on.”
PDW said the financing would support current defense requirements while creating manufacturing capacity for public safety, industrial and commercial applications. The company also plans to expand production of complete systems and the components required to build and sustain them.
“For more than a decade, the United States has been dependent on foreign technology and has lacked a domestic drone component ecosystem,” said Matt Higgins, Co-Founder and Executive Chairman of PDW. “This financing would allow us to build the components necessary for a thriving, sovereign dual-use drone industry and help to secure our nation’s industrial future.”
The commitment remains subject to additional steps before financial close. PDW must complete financial, legal, technical, due-diligence and other requirements before the loan can proceed.
Performance Drone Works is headquartered in Huntsville and develops multi-mission aerial robotic systems for defense, government, public safety and allied customers. The company is also developing domestic manufacturing capabilities for drone technologies and components.
