Powerus Advances to Phase 3 of the U.S. Army’s xTech Adaptive Strike Competition

Powerus subsidiary joins the finals of the Army prize competition accelerating affordable, soldier-ready capability following a Phase 2 field-evaluation period for the company’s Matrix FPV platform

Powerus has announced a proposed merger with Aureus Greenway Holdings Inc. (Nasdaq: PUSA); the merger has not closed and remains subject to customary closing conditions, including the effectiveness of a Form S-4 registration statement and applicable regulatory approvals

WEST PALM BEACH, Fla., July 17, 2026 (GLOBE NEWSWIRE) -- Powerus today announced that its wholly-owned subsidiary, Tandem Defense, has been selected as one of up to 10 companies to advance to Phase 3 of xTech Adaptive Strike, a U.S. Army prize competition under the Army’s xTech program, designed to accelerate commercial technologies that strengthen small-unit effectiveness in contested environments, including extended-range reconnaissance, affordable strike and loitering munitions, small-unit power generation, and counter-UAS defeat.

The selection follows a Phase 2 field-evaluation period, during which the Powerus training team spent several weeks at the U.S. Army National Training Center supporting an Army unit’s force-on-force exercise. The team provided hands-on instruction on Powerus’ Matrix FPV platform, which the supported unit employed during the exercise. The unit using the Powerus platform was nominated for hero of the battle. As a Phase 2 finalist, Powerus received a $50,000 award.

Phase 3, which is the competition’s final soldier exercise, is scheduled for October 29, 2026 through November 28, 2026. There will be up to five winners selected for an additional $100,000 prize each and potential follow-on contract discussions. Winners will be announced on November 30, 2026.

The competition’s acquisition pathways enable government organizations to engage with finalists and winners, supporting rapid technology maturation, accelerating the transition of innovative capabilities to the field, and promoting collaboration with non-traditional and small business performers.

“Advancing to Phase 3 of the xTech Adaptive Strike Competition confirms that what we've built at Powerus proves itself in the hands of soldiers in action. Our team spent weeks in the field with an Army unit putting Matrix FPVs through a real force-on-force exercise, and this selection reflects that performance. We're focused on carrying this momentum into Phase 3 and delivering a platform that soldiers can depend on,” said Brett Velicovich, Co-Founder of Powerus.

About xTech Adaptive Strike
xTech Adaptive Strike is a U.S. Army prize competition managed under the Army’s xTech program, distinct from the traditional SBIR/STTR contracting process. The competition opened for submissions in early 2026 and selected up to 10 finalists following a Phase 2 field evaluation. Phase 3 finalists compete in a live Soldier exercise, with up to five winners selected for follow-on prize awards. The competition targets capability gaps in extended on-station reconnaissance; affordable, scalable strike drones and loitering munitions; small-unit power generation; and counter-UAS defeat.

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 autonomous air and maritime platforms, counter-UAS and interceptor systems, mission systems, training and support, and U.S.-based manufacturing.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, as to the selection for Phase 3 of the xTech Adaptive Strike competition, these statements include but are not limited to; advancement to Phase 3 and performance therein; the timing, structure, and potential outcomes of Phase 3, including possible prize awards and any potential follow-on contract discussions. As to the proposed business combination between Powerus and Aureus Greenway Holdings Inc., these statements include, but are not limited to, statements regarding the proposed business combination and anticipated benefits thereof, including future financial and operating results, statements related to the expected timing of the completion of the transactions, 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, the anticipated benefits and strategic and financial rationale of the merger and other statements that are not historical facts. 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.

All forward-looking statements are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of AGH or Powerus to differ materially from any results expressed or implied by such forward-looking statements. As to the U.S. Army’s xTech Adaptive Strike competition, such factors include, among others: (1) that Phase 3 outcomes, prize awards, and any follow-on contract opportunities are not guaranteed and remain subject to U.S. Army selection and program funding availability; (2) the team’s performance in Phase 3 is not successful or positive; and (3) the risk that participation in the competition does not result in any contract, revenue, or commercial benefit.

As to the announced merger agreement with AGH, such factors include, among others, (1) the risk of delays in consummating the potential transaction, including as a result of required shareholder and 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.

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 will file a registration statement on Form S-4 with the SEC, which will include an information statement and preliminary prospectus of AGH. After the registration statement is declared effective, AGH will mail to its stockholders a definitive information statement. Additionally, AGH expects to file other relevant materials with the SEC in connection with the merger. Investors and security holders are urged to read the registration statement and joint information statement/prospectus when they become available (and any other documents filed with the SEC in connection with the transaction or incorporated by reference into the joint information statement/prospectus) because such documents will 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.

Website Links
Links to third-party websites are provided for convenience only. Powerus and AGH do not control, endorse, or accept responsibility for the content of any third-party website, including any content on the U.S. Army website linked herein. The inclusion of any link does not imply endorsement by any third party of Powerus or its products, AGH, or the proposed merger transaction, or endorsement by Powerus or AGH of any third-party website or its content. Information contained on or accessible through any linked website does not form part of this press release.

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