Ukrainian defense technology manufacturer TAF Industries, in partnership with the Danish company Upteko, has signed a memorandum of understanding (MoU) to establish a joint venture (JV) in Denmark, which is expected to produce thousands of drones per month starting in early 2027.
According to a press release, the memorandum was signed during the DALO Industry Days in Herning, Denmark. This collaboration is part of the “Build with Ukraine” initiative.
Under the agreement, the companies are expected to work on scaling up production capacity in the field of FPV drones and strengthening supply chains.
“Today’s agreement is another strategic step that will contribute to further deepening cooperation both between our companies and between Ukraine and Denmark,” TAF Industries CEO Volodymyr Zinovsky is quoted as saying in the press release.
For his part, Upteko founder Benjamin Meinerz added that the companies jointly aim to foster innovation by developing high-performance systems and building an organization capable of adapting to future challenges.
“Establishing a manufacturing facility and a development office outside of Ukraine creates a solid foundation for cooperation in the fields of research, engineering, and manufacturing,” noted the founder of Upteko.
In June, TAF Industries, together with the Polish Defense Group (Polska Grupa Zbrojeniowa), signed a memorandum of understanding regarding the further localization of production in Poland and the expansion of manufacturing capacity.
The Danish technology company Upteko was founded in 2018 and specializes in developing drone solutions for the maritime and industrial sectors. The company collaborates with industrial partners, government agencies, and representatives of the maritime sector.
Ukrainian defense technology manufacturer TAF Industries produces over 30 types of defense products, including FPV drones and reconnaissance UAVs, electronic warfare systems, remote control solutions, and AI-based combat technologies. The company’s monthly production of FPV drones reaches up to 80,000 units.
Ukrainian defense startup Swarmer, which went public on the Nasdaq in March of this year (ticker SWMR), reported in its financial statement that in the second quarter of 2026, its net loss increased from $1.6 million in the same period of 2025 to $7.3 million, while revenue rose from $138,200 to $216,000.
“The second quarter of 2026 was our first full quarter as a public company and a period of significant progress across all areas of our business. We successfully attracted new customers and made progress in implementing projects to deploy our solutions on various unmanned platforms, while continuing to invest in the team and technologies necessary to ensure future growth,” the press release quotes company co-founder Alex Fink as saying.
According to the report, the company’s gross profit for the second quarter of 2026 was $183,600, compared to $82,000 in April–June 2025. This growth was primarily driven by licensing revenue recognized under the SkyKnight program.
It is noted that Swarmer’s operating expenses for this reporting period totaled $7.5 million, compared to $854,800 a year ago.
“This increase is primarily due to investments in personnel, engineering development, product creation, and platform integration capabilities, as well as higher expenses for consulting, legal, and professional services related to the company’s operations as a public entity,” the company noted.
Operating expenses for the second quarter of 2026 also included, among other things, approximately $1.2 million in non-cash stock-based compensation expenses and certain one-time expenses for equipment purchases, which are not expected to recur on a regular basis.
The report added that during the second quarter of this year, the company billed drone manufacturer SkyKnight $1.5 million. Specifically, $0.2 million was recognized as revenue, $0.1 million was recorded as deferred revenue, and the remaining amount was recorded as an advance payment on the balance sheet.
The company noted that as of the end of June 2026, cash and cash equivalents had increased to $25.3 million from $9.3 million as of December 31, 2025.
Swarmer explains that this growth was driven by approximately $16 million raised from its initial public offering (IPO), $8.8 million raised under a share-for-equity financing facility, and $3.5 million from the sale of Series A-1 convertible preferred shares.
In April–June of this year, Swarmer also signed a memorandum of understanding (MOU) with the technology company Autonomous Power Corporation (Powerus) to explore the potential integration of Swarmer’s battle-proven software with Powerus’s autonomous aerial and maritime platforms.
The company’s core areas of activity include autonomous swarm coordination, integration of multi-domain unmanned systems, AI-based collaborative autonomy, and software for commanding and controlling distributed robotic operations, according to the press release. In addition, the company’s clients include drone manufacturers that license Swarmer’s software for integration with their hardware platforms.
As previously reported, Swarmer posted a net loss of $4.5 million for January–March 2026, compared to $0.7 million for the same period in 2025. Revenue fell to $20,300 from $110,700, while operating expenses rose to $4.5 million from $0.8 million.
The company was founded by Serhiy Kuprienko and Alex Fink in May 2023. Its registered headquarters and marketing and sales office are in Austin, Texas, USA, while its engineering divisions are split between offices in Kyiv, Ukraine, and Warsaw, Poland. The company’s holding structure includes “subsidiary” companies in Ukraine, Poland, and Estonia.
Prior to the IPO, Kuprienko held a 27.4% stake and Fink held 15.1%, while other shareholders included Theseus Capital Partners—where Philip Wagenheim, a member of the board of directors, serves as managing partner—with 22%, D3 Fund (Evelyn Buchacki) with 10.1%, RG.AI Technologies, led by Charles Eberle von Sexi, held 14%, Green Flag Fund I held 5.3%, and Radius Fund I held 6.9%
Swarmer’s revenue in 2025 fell to $0.31 million from $0.33 million a year earlier, while its net loss increased to $8.53 million from $2.07 million.
Repair crews from Zaporizhzhyaoblenergo JSC working in frontline areas have begun using UAVs to ensure the safety of power workers during emergency repair operations, the company announced on Friday.
“To minimize the danger to our employees, we have incorporated the ‘reconnaissance’ experience gained by our military using UAVs into our energy operations. For several months now, specialists have been training our ‘repair crews’ to operate drones so they can remotely identify equipment damage while remaining in a safer location,” said Andriy Stasevsky, head of Zaporizhzhiaoblenergo.
According to him, the company’s employees have to work daily in extreme proximity to the front line, and the longer the crews remain there, the higher the risks. At the same time, to repair, for example, an overhead power line, one must first inspect several kilometers of the line to locate the damage, a process that can take hours in conditions where there is nowhere to take cover outside populated areas. Therefore, while inspecting equipment, power workers are highly vulnerable to enemy shelling.
Currently, thanks to Deputy CEO Stanislav Zhadan, the company has managed to bring in leading experts in the field of UAVs for training, synthesize their accumulated experience, and begin applying it to its operations.
“We already have our first ‘graduates’—several repair crews have successfully completed drone pilot training and are already using them during emergency restoration work,” stated the head of Zaporizhzhiaoblenergo.
The process is ongoing in coordination with the military, facilitated by the Zaporizhzhia Regional State Administration. At the same time, the issue of providing the necessary equipment is being addressed.
Ukraine and Norway are establishing their first joint production facility for Ukrainian drones. Several thousand mid-strike drones are planned to be manufactured in Norway, with the first deliveries expected by summer, according to the Ministry of Defense’s website.
The agreement was signed in Kyiv by Norway’s Ambassador to Ukraine Lars Ragnar Aalered Hansen and Ukraine’s Deputy Minister of Defense for European Integration Serhiy Boev.
The agreement also provides for the development of comprehensive industrial cooperation, including research.
The project will be funded by the Norwegian side. In total, Norway plans to allocate over $1.5 billion this year to purchase Ukrainian-made weapons for the Ukrainian Armed Forces.
The first systems manufactured in Norway are expected to be delivered to Ukraine as early as this summer.
“Norway gains the opportunity to produce technologies that have proven their effectiveness, while Ukraine receives the drones necessary to seize the initiative on the front lines. This is a true win-win partnership,” noted Ukrainian Defense Minister Mykhailo Fedorov.
In turn, Tore Onshuus Sandvik emphasized that “supporting Ukraine’s fight is the most important thing we are doing for Norway’s security. This is a collaboration that benefits both countries.”
According to him, the experience gained through this project will allow Norway to expand its production capabilities in a critically important area.
The Ministry of Defense notes that mutually beneficial technological and industrial cooperation with partners is one of Ukraine’s top priorities.
According to Serbian Economist, Serbian President Aleksandar Vučić has announced that the country will soon open its first large military drone factory in cooperation with a foreign partner. According to him, serial production in the republic should begin by the end of April. The announcement was made during the presentation of the national development strategy “Serbia 2030.”
Vucic noted that in the current international environment, “might makes right,” and stressed that Serbia must not remain weak. He linked the development of defense production to the task of maintaining peace and stability, stating that strengthening the army and police is necessary precisely as a deterrent. According to the president, Serbia allocates more than 2.5% of its GDP to the army and police.
The president specified that smaller drones had previously been assembled and developed in Serbia, both in the army and in the private sector. In particular, he mentioned the Komarac 1 and Komarac 2 models. The existence of such systems is confirmed by materials from the Serbian Ministry of Defense, which mention the use of Komarac 1 and Komarac 2 drones, with the latter designed, among other things, to destroy more heavily defended targets.
At the same time, Vucic described the new project as significantly larger and more technologically advanced, calling it a product of “the highest global standard.” Neither the name of the foreign partner, nor the investment parameters, nor the estimated production volumes have been officially disclosed at this time.
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NAEK Energoatom plans to complete the construction of all planned second-level protective structures (concrete structures against drone strikes and missile debris) for important elements of Ukraine’s operating nuclear power plants in 2026, according to the company’s CEO Pavlo Kovtonyuk.
“The first is passive protection of critical elements of nuclear power plants. It consists of several levels, and the first level (gabions and big bags – ER) is already complete. The second level is nearing completion. This work is being carried out according to the approved schedules and plans,” Kovtonyuk said in a conversation with journalists during a trip to one of the nuclear power plants, specifying that the construction of level 2 structures at all nuclear power plants is planned to be completed within the current year.
He noted that the second aspect is active protection provided by the Armed Forces of Ukraine, and Energoatom is allocating funds to purchase the necessary systems for such protection of the sky near nuclear power plants. Kovtonyuk did not specify the amount of funding for protection work and the funds allocated to the military, noting that “plans and projects agreed with the General Staff are financed without restrictions.”
Regarding the third level of protection (including underground structures designed to withstand direct missile strikes), the head of Energoatom noted that such projects can be considered individually.
“The third level involves very large-scale work, which can be considered as local projects. There is an example at one of the nuclear power plants where certain elements are protected by the third level. As for scaling, we will consider this possibility,” Kovtonyuk commented.
