Powerus Unit Secures U.S. Air Force IDIQ Contract Worth Up to $90 Million

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Autonomous Power Corporation, doing business as “Powerus,” announced that its wholly owned subsidiary, Tandem Defense LLC, has been awarded a competitively bid contract by the U.S. Air Force. The agreement covers Group 1 aerial-denial unmanned aircraft systems (UAS) and carries a maximum potential value of up to $90 million over the life of the award.

In addition to the unmanned aircraft systems, the contract provides for ancillary support equipment, operator training, and field service representative support.

Contract Structure and Operations

The award is structured as an indefinite-delivery/indefinite-quantity (IDIQ) contract, enabling the Air Force to place individual orders against the $90 million ceiling as operational requirements emerge.

Work will be carried out at locations specified by follow-on task orders. Key parameters of the procurement award include:

• Maximum Contract Value: Up to $90 million ceiling over the life of the award
• Period of Performance: Extends through mid-2028
• Managing Entity: Air Force Life Cycle Management Center (Wright-Patterson Air Force Base, Ohio)
• Scope of Supply: Group 1 aerial-denial UAS, ancillary support equipment, operator training, and field service representative support

The period of performance remains subject to government funding availability, task-order issuance, and the government’s right to terminate the contract for convenience.

Financial Realization and Revenue Model

Revenue realized by Powerus will depend directly on the individual task orders the Air Force places against the ceiling over the term of the contract. The $90 million figure represents the maximum potential contract value and is not a guaranteed or committed amount.

Actual revenue may be materially less than the ceiling amount depending on task-order volume, government funding availability, program priorities, and other factors. As of the release date, the Air Force has obligated initial funding, with subsequent orders to be placed at the government’s discretion.

Defense Autonomy Profile and Pending Merger

Tandem Defense LLC operates as a U.S.-based manufacturer of unmanned aircraft systems for military, government, and law enforcement customers. Parent entity Autonomous Power Corporation designs and scales unified autonomous systems architecture to move, protect, and sustain critical assets in high-risk environments. Powerus develops next-generation autonomous infrastructure and technologies for defense and critical infrastructure to support demand for AI-enabled autonomy, defense systems, and modern battlefield capabilities through U.S.-based manufacturing.

The award arrives alongside Powerus's previously announced proposed merger with Aureus Greenway Holdings Inc. (PUSA):

• Powerus will merge with and into a newly formed subsidiary of AGH, with Powerus continuing as the surviving operational entity.
• AGH will adopt the corporate name “Powerus Corporation.”
• AGH has changed its Nasdaq ticker symbol to PUSA in anticipation of the pending business combination.

The merger is expected to close in summer 2026, subject to customary closing conditions, including the effectiveness of a Form S-4 registration statement and required regulatory approvals. There is no assurance that the proposed transactions will be consummated or regarding the timing of any consummation.

All statements regarding operations, agreements, financial targets, products, and prospects rely entirely on management disclosures provided by Powerus. AGH has not independently verified these statements and urges investors to review the registration statement on Form S-4 to be filed with the SEC upon availability.

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