UAE's Plans for Fire Point
The United Arab Emirates plans to acquire 30% of the shares of the Ukrainian company Fire Point for approximately $760 million. The total valuation of Fire Point is $2.5 billion. This deal is being carried out with a buyer, the defense group EDGE, which belongs to the UAE sovereign fund.
History and Achievements of Fire Point
Fire Point was founded in 2022 by Denys Shtyerman, Yegor Skalyha, and Iryna Terekh. It is known that the first state order for the supply of strike unmanned aerial vehicles (UAVs) was received in August 2023. In 2024, Fire Point earned nearly 600 million hryvnias in net profit.
Fire Point specializes in the production of drones FP-1 and FP-2, as well as Flamingo missiles. The main characteristics of the products are:
- Drone FP-1: capable of carrying 60 kg of explosives at a range of up to 1,400 km.
- Drone FP-2: has a warhead weight of 100 kg and a range of up to 200 km.
- Flamingo missile: can cover a distance of up to 3,000 km and carry up to a ton of explosives.
EDGE, established in 2017, is headquartered in Abu Dhabi and incorporates over 35 organizations.
This deal highlights the growing interest of international investors in the Ukrainian defense industry, especially in the context of the ongoing conflict in Ukraine. Investments from the UAE could help strengthen Fire Point's manufacturing capabilities and expand its product portfolio, which in turn will have a positive impact on Ukraine's defense capacity. Cooperation with EDGE may also open up new markets for Ukrainian drones and missiles, enhancing their competitiveness on the international stage.