The UAE’s Strategic Development Fund (SDF) and cargo drone developer Dronamics have signed a term sheet to set up a manufacturing joint venture to produce Black Swan cargo drones, enabling the first serial production plant for the Dronamics Black Swan aircraft to be built.
SDF, which is Dronamics’ largest investor to date, first invested in the company in late 2022 through its Venture Capital division. Building on the MoU signed at last month’s SAVI Cluster launch event, the joint venture will now contribute towards building what Abdulla Maser Al Jaabari, managing director and CEO of SDF describes as “the manufacturing base of this advanced technological solution that [they] believe will be a game-changer within the logistics sector for the mid-mile delivery segment”.
Christian Jens Ziehe, executive director, portfolio management and head of industrial investments portfolio at SDF, said: “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.”
The UAE facility enabled by the joint venture will commence serial production of the Black Swan drone in 2025, with the capacity to produce up to 300 units annually. The cargo-optimised drone will be capable of flying 350 kg (770 lb) at a distance of up to 2,500 km (1,550 mi) and is claimed to be up to 80% faster, 50% cheaper and with up to 60% lower emissions than alternative modes of transport, including airfreight.