Dominion Dynamics, a Canadian defence tech company that hopes to compete with major players like Lockheed Martin, wants to be listed on public markets within five years.
The news: Dominion Dynamics CEO Eliot Pence outlined the plan in an online policy briefing hosted by the National Angel Capital Organization (NACO) on Tuesday. The event featured a conversation between Pence and Summit Lithium Technologies CEO Amanda Hall. Moderated by NACO CEO Claudio Rojas, it was part of a discussion on how the 2026 federal budget will affect entrepreneurs.
From the source: For Dominion to be successful, Pence said Canadians need to buy into the idea of building a “big defence company.”
“Canadians need to feel as though they are invested in the success of Dominion, hence the desire to list the company,” Pence said. “We have a plan to list in three years; we want to move as fast as we possibly can to that end, but I think listing the company in three to five years time is where we want to be.”
The context: Pence teased his timeline for taking the company public in an appearance on Paul Wells’ podcast last week, saying he wants Dominion Dynamics to be the best and biggest defence company in North America.
Since launching in June 2025, Dominion has been featured in BetaKit Most Ambitious and raised multiple record-setting funding rounds, including a $139-million Series A round earlier this year. The company is explicitly trying to become a Canadian competitor to big-name US defence contractors; it has taken on contracts to build an “autonomous wingman” to fly alongside crewed air fighters, as well as to build Ukrainian uncrewed ground vehicles.
Final thought: While Dominion has so far sustained itself on private capital, other companies looking to take advantage of Canada’s defence spending boom have taken to the public markets sooner. So far this year, Vancouver-based Juno Industries has listed on the TSX Venture Exchange and the Frankfurt Stock Exchange, while Montréal-based NorthStar and Brampton-based MDA Space have listed on the New York Stock Exchange.
Feature image courtesy The BetaKit Podcast.