Cargo drone airline Dronamics has signed a joint venture (JV) agreement with the UAE's Strategic Development Fund (SDF) to produce the Black Swan cargo drones to fulfil global demand.
The JV will constitute the first serial production plant for the Dronamics Black Swan aircraft.
In the announcement, Dronamics said in late 2022, SDF, through its Venture Capital division, invested in Dronamics and is its largest investor to date.
The JV term sheet — signed during the recent Dubai Airshow 2023 — 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.
Svilen Rangelov, co-founder and CEO of Dronamics, said this joint venture "will propel our advanced cargo drone technology into the market on a grand scale."
"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," he added.
The remotely-piloted Black Swan is capable of transporting up to 350 kgs (770 lbs) for 2,500 km (1,550 miles) and represents a leap in long-range, high-payload aerial logistics.