Summary sheet
The project covers the Promoter’s investments in Research, Development and Innovation (RDI) in the field of drones for commercial and defence applications over the period from 2025 to 2028.
The RDI investments focus on the development and commercialisation of the Promoter’s proprietary technologies for vertical take-off and landing (VTOL) ISR drones, as well as the development of technologies enabling a real-time aerial Data as a Service (DaaS) business model. The products and technologies supported by the Project can be used either as stand-alone solutions or as integrated systems connecting drones, ground equipment and other platforms to enable automated intelligence. In the latter case, data functions as a middleware layer feeding into intelligence and decision-making systems, such as battle management systems or civil data applications. The technologies and systems financed by the Project are currently at an early Technology Readiness Level (TRL), involving laboratory development, product development and deployment for testing. They are expected to reach commercial readiness over the coming years.
The Project strengthens European industrial competitiveness and autonomy providing critical defence capabilities for the European armed forces. The Project's activities are eligible for EIB financing and in line with the Bank's IDHC (Innovation, Digital, and Human Capital) public policy goal. Moreover, the Project contributes to the EIB core strategic priorities "Security and Defence" and "Digitalisation and Technological Innovation" (TechEU).
The investments to be financed support the EU policy priorities under Horizon Europe Strategic Plan 2025-27 as well as the reduction of the capability gaps identified by the European Commission's "European Defence - Readiness 2030" White Paper.
The financing of this Project supports Research, Development, and Innovation (RDI) activities that generate significant positive knowledge and technology externalities.
The Project is crucial to sustain the Promoter's long-term competitiveness and to consolidate its position as innovative European player in the field of uncrewed aerial vehicle technologies. The Project strengthens the expertise of an EU defence equipment supplier, supporting the European defence supply chain and its resilience, boosting industrial competitiveness, and fostering economic growth and employment.
The Project is expected to generate significant knowledge spillovers. Moreover, the Project will address critical capability gaps in European military forces while enabling new civilian applications for advanced aerial intelligence.
The Promoter is a growth stage company that has substantial financing needs to fund its growth. The EIB's Scale-Up loan would contribute to the funding of that growth with comparably little restrictions (e.g. no financial covenants) and high flexibility (long availability period, bullet structure with long maturity). It would thereby help to diversify the Company's capital structure away from expensive equity funding and reduce the dilution of the founder and management team. The envisaged EIB financing provides a strong signalling effect on the quality of the Project, facilitating other financiers.
The project is unlikely to entail significant environmental effects, since it concerns mainly RDI activities and the installation of dedicated machinery and equipment. Where and if applicable and based on a risk-based approach as defined in the EIBG Environmental and Social Policy, the requirements of the Environmental Impact Assessment Directive (EIA) 2011/92/EU (as amended by Directive 2014/52/EU), Birds Directive 2009/147/EC and Habitats Directive 92/43/EEC will be checked during appraisal.
The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the promoter is subject to the EU public procurement legislation then the Bank would require the promoter to apply those rules.