National Wealth Fund puts £113m into UFORCE for UK drone boat production
The government-backed National Wealth Fund is investing £113 million in UFORCE, a Ukrainian-founded, UK-headquartered defence technology company, to expand its engineering and advanced manufacturing in Britain. The money forms part of UFORCE's $700 million (over £525 million) Series A funding round.
UFORCE develops autonomous and uncrewed systems for use at sea, on land and in the air. The investment is expected to create hundreds of high-skilled jobs in engineering, software, artificial intelligence and advanced manufacturing.
British supply chain
UFORCE will grow its UK engineering, training and production team and invest in a domestic supply chain. Hulls, engines, electronics and fit-out will be sourced in the UK, and more than 70% of the content of each UK-built boat will come from British suppliers.
The investment will scale UK production, engineering and delivery of the company's systems for the UK, Ukraine and allied nations. The UK is set to become a major hub for the software, command-and-control and production capabilities behind UFORCE's global growth.
Skills and allies
The company will also develop and sponsor apprenticeships in partnership with universities and colleges across the UK.
The UK will act as a base to support allies such as the nations of the Joint Expeditionary Force, with a particular focus on capabilities for operating in Northern seas.
Demonstration at sea
The technology was shown aboard HMS Prince of Wales in Norway. Defence Secretary Wes Streeting piloted a UFORCE MV7 (Magura family) uncrewed vessel located more than 1,500 miles away in the Atlantic near Portugal.
The government described the investment as an example of the UK-Ukraine 100 Year Partnership, deepening the defence industrial relationship between the two countries.
Source: GOV.UK apprenticeships · Image: Pixabay