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Trump sons-backed Aureus to merge with drone maker Powerus
Yahoo Finance· 2026-03-09 12:37
Company Overview - Aureus Greenway, a golf club company backed by Donald Trump’s sons, is merging with Powerus to take the drone technology company public [1] - Powerus, founded in 2025 by Andrew Fox, specializes in heavy-lift drones capable of carrying industrial payloads up to 675 kg and offers services to convert manned boats into autonomous vessels [3] Investment and Funding - The merger is part of the Trump brothers' increasing investments in the drone sector, following a $1.5 billion partnership between Israeli drone maker XTEND and JFB Construction [1] - Aureus has engaged Dominari Securities to raise approximately $9 million in financing from investors, including Unusual Machines and Agostinelli Group [4] - Powerus has secured an additional $50 million investment from the Korea Climate & Governance Improvement Fund [5] Market Context - Drones are a significant procurement priority for the Pentagon and are extensively used in Ukraine due to limitations on conventional aircraft deployment [2] - The growing reliance on drones has attracted substantial funding from Silicon Valley into drone and military AI startups, increasing valuations of companies like Anduril Industries and Shield AI [2] Merger Details - The merger is expected to close in summer 2026, with Andrew Fox anticipated to serve as CEO and chairman of the combined entity [3][5]