Key Highlights
- Paras Defence signed an IP License Agreement with Tandem Defense LLC.
- The agreement provides an exclusive licence to use the technology within India.
- The licensed technology is the Guardian-1 Interceptor counter-drone system.
- The system is a high-speed battery-powered solution designed to counter low-cost aerial threats.
- The licence is exclusive non-transferable and non-sublicensable within India.
- The agreement has an initial term of 12 months and is renewable by mutual consent.
Paras Defence and Space Technologies Ltd has signed an Intellectual Property (IP) License Agreement with Tandem Defense LLC, a Georgia-based limited liability company and a wholly owned subsidiary of Autonomous Power Corporation, Delaware. The agreement grants Paras Defence an exclusive licence to use the licensed intellectual property within India for manufacturing and commercialising products based on the technology.
According to the filing, the agreement covers the Guardian-1 Interceptor, a high-speed, battery-powered counter-drone system developed by Powerus. The technology is designed to counter low-cost aerial threats.
Under the terms of the agreement, Powerus has granted Paras Defence an exclusive, non-transferable and non-sublicensable licence to use the licensed intellectual property solely within India. The agreement enables Paras Defence to manufacture and commercialise products in the country, while Powerus has appointed other parties for IP licence management, defence product manufacturing and sales operations outside the scope of the Indian licence.
The filing stated that Paras Defence does not hold any shareholding in the other party to the agreement. It also confirmed that the transaction is not a related-party transaction and that the parties are not related to the company’s promoter or promoter group.
The agreement has an initial term of 12 months and can be renewed through mutual consent. No special rights, such as board representation, subscription rights or restrictions on changes in capital structure, have been disclosed as part of the agreement.
Paras Defence stated that the Guardian-1 Interceptor technology will support its manufacturing and commercialisation efforts in India’s defence sector under the exclusive IP licence arrangement.
