Dronamics signs deal to accelerate Black Swan production

Cargo drone company Dronamics has started laying the groundwork for a joint venture with the UAE’s Strategic Development Fund (SDF), which could see the construction of serial production plant for the Black Swan unmanned delivery aircraft.

The drone company wants to ramp up production of this flagship middle-distance cargo drones to fulfil the global demand and requirements for Dronamics’ international and local customers.

And as a first step to this, they have announced the signing of a term sheet to set-up for the joint venture with the UAE investment company.

SDF is already the largest investor in Dronamics, a commitment it made in late 2022 through its Venture Capital division.

Signed on the sidelines of 2023 Dubai Airshow, the JV term sheet, builds on the Venture Capital investment and the MoU signed between SDF and Dronamics at last month’s SAVI Cluster launch event at Masdar City by the Abu Dhabi Department of Economic Development.

“SDF is committed to investing in financially sustainable partnerships that contribute towards building manufacturing and technological capabilities in the UAE,” Abdulla Naser Al Jaabari, Managing Director and CEO of SDF said.

“Leveraging Dronamics’ pioneering drone technology and the UAE’s logistics ecosystem and advanced infrastructure, this joint venture will bring the manufacturing base of this advanced technological solution that we believe will be a game-changer within the logistics sector for the mid-mile delivery segment.”

Established in Abu Dhabi in 2019, the Strategic Development Fund (SDF) is focused on investing in specific strategic Technology and industrial sectors towards fostering economic and industrial growth in the UAE while achieving financial return.

It invests in businesses and partnerships through private equity, greenfield and venture capital investments locally and internationally. In addition, through its Venture Debt Program, the SDF provides developmental funding aimed at the UAE’s private sector small and medium enterprises to contribute towards economic development through sustainable growth and in-country value creation.

“This joint venture will propel our advanced cargo drone technology into the market on a grand scale,” said Svilen Rangelov, Co-Founder and CEO of Dronamics.

“Our collaboration with SDF, an existing key strategic investor in Dronamics, reinforces our vision to provide same-day delivery for all, with the aim of leveraging the UAE’s exceptional infrastructure. Together, we believe we will revolutionize the logistics and air cargo sectors, seizing the vast opportunities within the UAE and the global market.”

The first company in the world to make serious inroads into drone-based middle-distances, Dronamics’ Black Swan drone has the capacity to carry cargo worth 350kg (770 lb) at a distance of up to 2,500 km (1,550 mi) up to 80 percent faster, 50 percent cheaper and with up to 60 percent lower emissions than alternative modes of transport, including airfreight.

This proven technology enables same-day shipping over very long distances for a variety of industries; from pharma to food, from e-commerce to spare parts.

The company is also the first in Europe to get licensed as a cargo drone airline and IATA’s first Strategic Partner for drones worldwide.

“This agreement is an example of how SDF combines its different investment approaches to achieve its mandate of both financial and strategic returns in an optimal way to bring the best value towards the companies SDF invests in while developing business and technology capabilities in the,” said UAE Christian Jens Ziehe, Executive Director, Portfolio Management and Head of Industrial Investments Portfolio at SDF.

“Through the JV, we will set up a facility in the UAE to start serial production in 2025 that will have capacity to produce up to 300 Black Swan drones annually. The JV will also contribute to further development of the local supply chain within Aerospace in the UAE.”

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