March 9 (Reuters) - Aureus Greenway Holdings, a golf club company backed by the sons of U.S. President Donald Trump, said it will merge with Powerus in a deal designed to take the drone technology company public.
The transaction is the latest in Eric and Donald Trump Jr.'s growing investments in the drone sector, following last month's $1.5 billion tie-up between Israeli drone maker XTEND and Florida-based JFB Construction Holdings.
Drones have become a major procurement priority for the Pentagon and
are widely used in Ukraine, where dense air defense systems near the front lines limit the deployment of conventional aircraft.
This growing reliance has also drawn significant Silicon Valley funding into drone and military artificial intelligence startups, boosting valuations of U.S. companies such as Anduril Industries and Shield AI.
Powerus, which was formed in 2025 by Andrew Fox, makes heavy-lift drones that can carry industrial payloads up to 675 kg. The company also offers services to transform existing manned boats into remotely operated or fully autonomous vessels.
Fox is expected to serve as chief executive officer and chairman of the combined company, Aureus said in an SEC filing.
In connection with the planned merger, Aureus has engaged Dominari Securities to help raise about $9 million in financing.
Dominari counts both Trump brothers among its shareholders, with roughly 6% stakes each.
The merger could be terminated by either company if it does not close by the end of 2026, Aureus said.
(Reporting by Aishwarya Jain in Bengaluru; Editing by Mrigank Dhaniwala)
