The US Department of Defense’s Office of Strategic Capital has conditionally committed up to $820 million in loans to Performance Drone Works. The objective is to help the company expand US-based manufacturing of important unmanned aerial system components.
Together with private-sector capital, the financing will allow PDW to increase output of propulsion systems, power controls, and vision technologies used in drones. The expansion will be centered on the company’s 90,000-square-foot, or 8,361-square-meter, facility in Huntsville, Alabama.
The additional investment will increase production capacity at PDW and provide opportunities for other companies in the local industrial network. The project is part of a wider effort to strengthen domestic manufacturing capabilities for critical drone technologies.
