Business UpdateJun 23, 2026, 09:06 AM
XTEND Secures $9M Defense Orders, New Patents; Nears NYSE Listing
AI Summary
JFB Construction Holdings announced that XTEND, its merger partner, secured approximately $9.0 million in defense orders for autonomous multi-drone operations for a Middle East customer. XTEND also received two new patent grants covering core UAV navigation and control technology, adding to a patent secured earlier this month. These milestones, along with other significant contracts and regulatory approvals, highlight XTEND's strong momentum as it approaches its NYSE listing following the definitive merger agreement with JFB in February 2026.
Key Highlights
- XTEND secured $9.0 million in defense orders for autonomous multi-drone operations.
- Received two new patent grants for UAV navigation and control technology.
- U.S. Patent No. 12,222,735 covers unmanned vehicle direction independent of environment.
- U.S. Patent No. 12,461,522 covers precise UAV control under communication latency.
- Won $1.67 million (NIS 5 million) contract with Israeli Ministry of Defense.
- Secured $8.25 million European autonomous drone program order.
- Selected for Phase II of U.S. DoD's Drone Dominance Program.
- Launched UK AI robotics XFAB with initial £1.93 million order.
Price Impact
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