Dronamics and its largest investor, UAE’s Strategic Development Fund (SDF), have signed a term sheet to set up a joint venture to produce the Black Swan on a grand scale to fulfill global demand and customer requirements.

Through the joint venture, the two plan to set up  that will have capacity to produce up to 300 Black Swan drones annually. The joint venture will also contribute to further development of the local supply chain within aerospace in the UAE.

SDF, through its venture capital division, invested in Dronamics in late 2022, and the latest deal builds on the venture capital investment and the memorandum of understanding signed between the two at the Smart and Autonomous Vehicle Industries (SAVI) Cluster launch event at Masdar City in October.

The new term sheet was signed at the Dubai Airshow, where Dronamics’ participation has reaped fruitful opportunities for the cargo drone maker. In a separate announcement, the company also revealed a letter of intent agreement with logistics operator Aramex.

Dronamics will supply its innovative drone technology to Aramex to enable express, middle-mile and long-range deliveries. The two companies will explore joint deployment opportunities in the United Arab Emirates initially, followed by other key markets like South Africa and Australia.

Dronamics’ remotely piloted cargo aircraft is capable of transporting up to 350 kilos (770 lbs) for 2,500 kilometres (1,550 miles) and only requires 400 metres to land and take off, a viable solution for reaching remote and underserved areas, where traditional airport infrastructure is missing or underdeveloped.