Drone Volt: joint venture around hydrogen drones


(CercleFinance.com) – Drone Volt announces the creation of a joint venture with the company Pragma Industries, presented as “one of the leaders in the design and production of compact hydrogen fuel cells” with the aim of creating drones capable of flying long distances with H2 fuel cells.

Led by Drone Volt, this joint venture will aim to provide all drone manufacturers with hydrogen engines that can transform hydrogen into electricity.

‘The pooling of technologies and R&D should lead to a major technological leap in the drone sector’, estimates Drone Volt.

As an extension of this agreement, the two partners have agreed to proceed with a series of reciprocal capital increases in order to strengthen their partnership through capital links. The capital increases of Pragma Industries for the benefit of Drone Volt will enable the Group to eventually hold approximately 10% of the capital of Pragma Industries.

Pragma Industries will also subscribe to several capital increases in Drone Volt during the 2022 financial year, without however being able to hold more than 10% of the share capital of Drone Volt given the regulations on cross-shareholdings between French commercial companies.

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