JFB•JFB Construction Holdings’ XTEND advanced to Gauntlet II of the U.S. Department of War’s $1 billion Drone Dominance Program after ranking among 19 qualifiers out of 49 participants in Camp Grayling evaluations, with Phase II tests at Fort Carson scheduled for August. A separate report initiated a $12 price target and 'Buy' rating on Evolution Metals, which is unrelated to JFB and unlikely to affect its valuation.
XTEND, part of JFB Construction Holdings, was selected as one of 19 companies to advance to Gauntlet II from an initial field of 49 competitors after two weeks of day-night operational evaluations at Camp Grayling, Michigan. The next phase of testing will take place in August at Fort Carson, Colorado, where companies must deliver production-ready systems for operational assessments.
The U.S. defense initiative allocates $1 billion to accelerate autonomous one-way attack systems through rapid competitive acquisition. Following Gauntlet II, the Department of War plans to procure up to 60,000 drone systems from top-performing participants, underscoring the program’s scale and strategic importance.
JFB Construction Holdings entered into a definitive all-stock agreement to combine with XTEND, with support from strategic investors including Eric Trump and Protego Ventures. Upon closing, the joint entity will be renamed XTEND AI Robotics and listed under ticker XTND, integrating XTEND’s AI-powered robotics platform into JFB’s corporate structure.
Advancing to Gauntlet II validates XTEND’s technology, manufacturing capability and ability to meet demanding defense requirements, positioning JFB for potential contract awards and revenue growth. Success in the Drone Dominance Program could enhance the company’s defense segment valuation and drive investor interest ahead of system procurements.
