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Neros to expand domestic drone production with $450M Pentagon loan
The Pentagon’s Office of Strategic Capital made a conditional $450 million loan commitment to Neros Technologies to expand United States manufacturing of small drone components. The California company said it would put a further $165 million into the expansion, bringing the planned investment to $615 million. The financing is aimed at increasing domestic production capacity in a supply chain that has relied heavily on components made in China. Neros is also competing to supply small drones to the Defense Department, while the conditional loan concerns manufacturing investment and remains subject to closing requirements.