The Financial Times reported on Wednesday that Vulcan Elements - a tiny startup of 30 employees that specializes in producing rare-earth magnets used in drones, radars, and other pieces of military equipment - has scored a $620 million loan from the Pentagon as part of "a $1.4 billion deal to increase the supply of magnets for industries alongside partner ReElement Technologies."
The country's Ministry of Defense recently tested the DragonFire laser at a facility in Scotland, according to a statement, where it was able to successfully shoot down high speed drones that "fly up to 650 km/h [404 miles per hour] - twice the top speed of a Formula 1 car." 🇬🇧 The UK's DragonFire laser has shot down high-speed drones in new trials, with above-the-horizon tracking and pinpoint accuracy at a kilometre. A £316m contract now pushes the system toward a Type 45 destroyer by 2027. pic.twitter.com/6sjHq1aYzH- UK Defence Journal (@UKDefJournal) November 20, 2025
In its own statement on the announcement, Sierra Space said the new approach will provide it with more "flexibility" as the company seeks to attract national defense contracts. "Dream Chaser represents the future of versatile space transportation and mission flexibility," said Fatih Ozmen, executive chair at Sierra Space, in the statement. "This transition provides unique capabilities to meet the needs of diverse mission profiles, including emerging and existential threats and national security priorities that align with our acceleration into the Defense Tech market."
Over the last eight years, Anduril has been consistent in our view of modern warfare: The physics of the battlefield have changed, permanently. Projecting power increasingly demands the ability to amass tons of effects over long distances,