• Limited procurement order received from the Ministry of Defence of the Islamic Republic of Pakistan for unmanned aerial systems and associated support.

  • Order represents an expansion of Powerus’s international defense business.

  • Separate memorandum of understanding frames expanded cooperation in unmanned and autonomous systems, subject to definitive agreements and government approvals.

  • Powerus delegation received by the Chief of Army Staff at General Headquarters, Rawalpindi, per a statement issued by Inter-Services Public Relations.

  • Powerus has entered into a definitive merger agreement with Aureus Greenway Holdings Inc. (Nasdaq: PUSA). The proposed merger remains subject to customary closing conditions.

WEST PALM BEACH, Fla., Sept. 17, 2026 (GLOBE NEWSWIRE) — Autonomous Power Corporation, dba Powerus (“Powerus”), a U.S. defense technology company focused on autonomous and unmanned systems, today announced that it has received a limited procurement order from the Ministry of Defence of the Islamic Republic of Pakistan for unmanned aerial systems and associated support.

The order represents an expansion of Powerus’s international defense business. No other terms of the order have been disclosed.

Powerus has also signed a strategic memorandum of understanding with senior defense officials of the Islamic Republic of Pakistan. The memorandum establishes a framework for potential expanded cooperation in unmanned and autonomous defense technologies and provides a basis for the parties to explore additional areas of cooperation and potential future deployment of Powerus systems. The memorandum is not a definitive agreement, creates no purchase obligation, and does not obligate either party to proceed. Any program or procurement contemplated under the framework would be subject to definitive agreements and to all applicable United States laws and regulations and government approvals.

On September 16, 2026, a Powerus delegation led by Co-Founder Brett Velicovich was received by Field Marshal Syed Asim Munir, Chief of Army Staff and Chief of Defence Forces, at General Headquarters in Rawalpindi. In a statement issued by Inter-Services Public Relations, the media wing of the Pakistan Armed Forces, the meeting was described as covering matters of mutual interest, evolving trends in defence technology, and avenues for cooperation in defence procurement, production and capacity building. The statement said both sides expressed interest in further developing engagement in areas of mutual interest.

“This is an important milestone for Powerus as we expand our international defense footprint,” said Brett Velicovich, Co-Founder of Powerus. “We are proud to support Pakistan’s Ministry of Defence, and the memorandum gives both sides a strategic framework to build upon.”

About Powerus

Powerus (Autonomous Power Corporation) builds and scales unified autonomous systems designed to move, protect, and sustain critical assets in high-risk environments, with capabilities spanning heavy-lift platforms, autonomous air systems, autonomous maritime systems, mission systems, training and support, and U.S.-based manufacturing. Powerus previously announced a proposed merger with AGH (Nasdaq: PUSA); the merger has not closed and remains subject to the satisfaction of customary closing conditions and applicable regulatory approvals. Learn more at power.us.

Proposed Merger

Powerus has previously announced a proposed merger with Aureus Greenway Holdings Inc. (Nasdaq: PUSA). Under the terms of the previously announced agreement, Powerus will merge with and into a newly formed subsidiary of AGH, with Powerus continuing as the surviving entity and AGH adopting the name “Powerus Corporation.” AGH has changed its Nasdaq ticker to PUSA in anticipation of its pending combination with Powerus, expected to close in the fourth quarter of 2026, subject to customary closing conditions and receipt of required regulatory approvals. There can be no assurance that the proposed transactions will be consummated or as to the timing of any such consummation.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. As to the order and the memorandum of understanding, these statements include but are not limited to statements regarding the order, the scope and performance of the order, the memorandum of understanding, the cooperation it contemplates, and the possibility that the parties may enter into definitive agreements in the future. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “targets,” “plans,” “intends,” “goal,” “anticipates,” “expects,” “believes,” “potential,” or “continue” or negatives of such terms or other comparable terminology. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially.

As to the proposed business combination between Powerus and AGH, these statements include, without limitation, statements regarding the proposed merger between Powerus and AGH; the anticipated benefits of the merger; the expected timing of the completion of the merger; the anticipated listing and trading of the combined company’s securities; future financial and operating results; the plans, objectives, expectations and intentions of either company or of the combined company following the merger; anticipated future results of either company or of the combined company following the merger; and the anticipated benefits and strategic and financial rationale of the merger and other statements that are not historical facts and its expected timing.

All forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from any results expressed or implied by such forward-looking statements. As to the order and the memorandum of understanding described in this release, such factors include, without limitation: (1) that required authorizations under United States export control laws, including the International Traffic in Arms Regulations, the Export Administration Regulations, and applicable sanctions programs, may be delayed, limited, conditioned, or denied, and that no assurance can be given that any authorization will be granted; (2) that the memorandum is not a definitive agreement and may never result in any further order, contract, revenue, or definitive agreement; (3) that the parties may not agree on the terms of any definitive agreement; (4) that cooperation contemplated by the memorandum may never be authorized or implemented; (5) that United States foreign policy, licensing policy, or congressional review may change; (6) that the customer’s procurement priorities or funding may change; (7) that delivery may be delayed by supply chain, production, or logistics conditions; (8) that either party may terminate or decline to proceed; (9) that the order may be cancelled or amounts received may become refundable; and (10) that activity under the order or the memorandum may expose Powerus to regulatory, reputational, or geopolitical risk, including consequences for commercial relationships in other markets.

As to the announced merger agreement, such factors include, among others: (1) the risk of delays in consummating the potential transaction, including as a result of required regulatory approvals, including Nasdaq listing requirements which may not be obtained on the expected timeline, or at all; (2) the risk of any event, change or other circumstance that could give rise to the termination of the merger agreement; (3) the possibility that any of the anticipated benefits and projected synergies of the potential transactions will not be realized or will not be realized within the expected time period; (4) the limited operational history of Powerus as a combined organization and integration risks of acquired businesses; (5) diversion of management’s attention or disruption to the parties’ businesses as a result of the announcement and pendency of the transaction, including potential distraction of management from current plans and operations of AGH or Powerus and the ability of AGH or Powerus to retain and hire key personnel; (6) reputational risk and the reaction of each company’s customers, suppliers, employees or other business partners to the transaction; (7) the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (8) the outcome of any legal or regulatory proceedings that may be instituted against AGH or Powerus related to the merger agreement or the transaction; (9) the risks associated with third party contracts containing consent and/or other provisions that may be triggered by the proposed transaction; (10) legislative, regulatory, political, market, economic and other conditions, developments and uncertainties affecting AGH’s or Powerus’s businesses; (11) the evolving legal, regulatory, tax, and international trade regimes; (12) the nature, cost and outcome of potential litigation and other legal proceedings, including any such proceedings related to the transactions; (13) restrictions during the pendency of the proposed transaction that may impact AGH’s or Powerus’s ability to pursue certain business opportunities or strategic transactions; and (14) unpredictability and severity of catastrophic events, including, but not limited to, extreme weather, natural disasters, acts of terrorism or outbreak of war or hostilities, as well as AGH’s and Powerus’s response to any of the aforementioned factors.

In connection with the proposed merger, AGH has filed relevant materials with the SEC, including a registration statement on Form S-4, which includes an information statement prospectus, and may file additional materials in the future. Investors and security holders are urged to read those materials because they contain important information. Forward-looking statements speak only as of the date of this release, and except as required by law, neither company undertakes any obligation to update them. This release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

No Offer or Solicitation

This document is for informational purposes only and is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

Important Information and Where to Find It

In connection with the transaction, AGH has filed a registration statement on Form S-4 with the SEC, which includes an information statement and prospectus of AGH, and has mailed a definitive information statement and prospectus to its stockholders. Investors and security holders are urged to read the registration statement (and any other documents filed with the SEC in connection with the transaction or incorporated by reference into the registration statement) because such documents contain important information regarding the proposed transaction and related matters. Investors and security holders may obtain free copies of these documents and other documents filed with the SEC by AGH through the website maintained by the SEC at http://www.sec.gov or at AGH’s website at https://www.aureusgreenway.com/secfilings.

Contacts

AGH Investor Relations
Jason Assad
678-570-6791

Powerus Press Contact
Escalate PR
pr@power.us

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/df05bd19-19a7-47c8-a42e-a09f63f4641b


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