March 9 (Reuters) – Orios Greenway, the golf club company backed by the sons of U.S. President Donald Trump, said on Monday it would join forces with Powers in a deal designed to take the drone technology company public.
The deal is the latest in Eric and Donald Trump Jr.’s growing investment in the drone sector, following last month’s $1.5 billion deal between Israeli drone maker XTEND and Florida-based JFB Construction.
Drones have become a major procurement priority for the Pentagon and are widely used in Ukraine, where air defense systems near the front lines limit the deployment of conventional aircraft.
This growing reliance has also attracted significant Silicon Valley funding for drone and military artificial intelligence startups, boosting the valuations of US companies such as Andrel Industries and Shield AI.
Powers, founded in 2025 by Andrew Fox, makes heavy-lift drones that can transport industrial payloads of up to 675kg. The company also offers services to convert existing manned ships into remotely piloted or fully autonomous ships.
Fox is expected to serve as chief executive officer and chairman of the joint venture, Orios said in a regulatory filing.
However, the value of the deal was not disclosed.
Dominari said in a separate statement that in connection with the planned merger, Orios has helped Dominari Securities raise about $9 million in financing from investors including drone company Extraordinary Machines and the Agostinelli Group.
Dominari counts both Trump brothers among its shareholders, each with a roughly 6% stake, while Extraordinary Machines appointed Trump Jr. as an adviser in November 2024.
Powers also received additional funding from the Korea Climate and Governance Improvement Fund, which agreed to buy $50 million of the drone maker’s stock, Dominari added.
The annex will close in the summer of 2026, Dominari said.
(Reporting by Aishwarya Jain in Bangalore; Editing by Mrigank Daniwala and Maju Samuel)
