The United Arab Emirates plans to become a co-owner of the Ukrainian defense company Fire Point, which specializes in the production of long-range drones and missiles. Under the terms of the potential deal, the UAE defense group EDGE, owned by the country’s sovereign fund, will acquire a 30% stake in Fire Point for approximately $760 million. The company’s valuation is estimated at around $2.5 billion. EDGE has already submitted all necessary documents to the Antimonopoly Committee of Ukraine to obtain approval for this deal.
This is reported by Finway
Technological Potential of Fire Point
Fire Point was established in 2022 and quickly became one of the key contractors for state defense orders in Ukraine. The company develops and manufactures the FP-1 and FP-2 strike drones, as well as the Flamingo cruise missile. Additionally, Fire Point is currently developing a Ukrainian ballistic missile, highlighting its strategic importance for the country’s defense sector.
The main specifications of the company’s products are as follows: the FP-1 drone can deliver up to 60 kg of payload over a distance of up to 1400 km, the FP-2 can carry up to 100 kg over 200 km, and the Flamingo cruise missile is capable of transporting a payload of up to 1000 kg over a distance of up to 3000 km.
EDGE: Developing International Cooperation
EDGE was founded in 2017 and today comprises over 35 companies operating in various defense and security sectors. The UAE’s investment in Fire Point could open new opportunities for the Ukrainian defense sector, particularly in terms of developing modern technologies and accessing global markets.
Fire Point is one of the major contractors for state defense orders in Ukraine.