6th edition of the event began on Oct 29, attracting thousands of residents to beaches, parks, and outdoor venues to partake in physical activities
events5 months ago
The Strategic Development Fund (SDF), the investment arm of Tawazun Council, has introduced Helio Aviation Technologies (HelioTech), a latest addition to its venture investment portfolio, during Abu Dhabi’s defence exhibition.
HelioTech, a UAE-based company, will focus on the design and manufacturing of its own proprietary and unique vertical take-off and landing (VTOL) aircraft for commercial and security applications. HelioTech’s initial efforts will centre on the development and production of manned and unmanned single engine helicopters based on cutting-edge coaxial technology. It has commenced the design and development of a family of products within the VTOL aircraft sector, which are on display at the International Defence Exhibition (IDEX).
Tareq Abdulraheem Al Hosani, Secretary General, Tawazun Council, noted the launch of HelioTech is a “significant step” in advancing the UAE’s aviation, defence and security industry and will contribute to the growth and diversification of Abu Dhabi’s economy.
“HelioTech aligns with SDF's mandate to invest in financially and strategically rewarding investments through partnerships which contribute towards the UAE's private sector and Abu Dhabi’s technological capabilities,” Al Hosani added.
Abdulla Naser Al Jaabari, managing director and CEO of SDF, and chairman of HelioTech, underlined that aviation and urban mobility technologies are a part of SDF’s focus on its key strategic sectors.
“We started our first major investment within the rotorcaft industry in 2019, but due to specific constraints, we halted our plans and investments in agreement with our partners. The new venture investment through the launch of HelioTech is a testament to our confidence that advanced VTOL technologies will play a major role in future of the aerospace, mobility and defence industries,” Al Jaabari said and noted that SDF is committed to positioning HelioTech as a leader in the industry.
“We aim to partner with international industry players and investors to further expand and develop the business,” Al Jaabari said.
HelioTech plans to set up an international distribution, manufacturing and production network to enable it to enter key global markets.
“HelioTech’s new production and design plant in Al Bateen Executive airport free zone will be the first step towards completing our prototypes and fulfilling our targeted initial production capacity.”
Sultan Al Kaabi, senior adviser in SDF and the managing director of HelioTech, said.
“We have started taking several steps in building our team of top international and young Emirati talent. We are working closely with international industry experts and partners and are confident that we will reach our target in beginning our production of specific products within 2025,” Al Kaabi added.
ALSO READ:
6th edition of the event began on Oct 29, attracting thousands of residents to beaches, parks, and outdoor venues to partake in physical activities
events5 months ago
Conference to bring experts and climate policymakers together for the first time in a UN climate conference
events5 months ago
Besides fun activities and shows, a medical camp will be set up during the event
events5 months ago
These payment gateways are crucial for the companies that provide services to foreign companies for financial transactions
events6 months ago
Over 1,400 start-ups are showcasing their solutions at Expand North Star conference
events6 months ago
The festival will run from November 24 to 26, 2023; tickets are now available
events6 months ago
The event, which will run for two days, has attracted about 2,000 participants from around the world
events6 months ago
Whether you are a culture enthusiast, a sports fan, a food connoisseur, an adrenaline seeker, or a music lover, the roster has something for you
events6 months ago