Renewable Ventures Nordic AB has entered into an agreement to acquire all shares in Xer Tech AB, a defense tech company specializing in hybrid electric UAVs, for approximately 150 million SEK.

Information on the Target

Renewable Ventures Nordic AB (publ) ("RVN" or "the Company") has entered into an agreement with Rex Technology Investments Pte. Ltd. ("RTI"), which currently owns all shares in Xer Tech AB ("Xer Tech"), to acquire all shares in Xer Tech ("the Transaction"). Xer Tech specializes in developing and selling hybrid electric UAVs (drones) for defense as well as civilian applications. The Transaction is contingent upon several approvals, including a resolution at an extraordinary general meeting, continued listing approval from Spotlight Stock Market, authorization from the Inspection of Strategic Products (ISP), and possibly approval from Rex International Holding Limited's shareholders.

Xer Tech is in the commercialization phase and has already established partnerships with multinational corporations in the defense and energy sectors, including clients in the UK, Switzerland, and several NATO countries. The company has developed a proprietary hybrid engine, along with a modular platform that integrates AI and is capable of operating in demanding environments. Their UAV solutions promise both cost efficiency and performance comparable to traditional helicopters.

Industry Overview in Sweden

The global UAV market is experiencing significant growth, propelled by the increasing demand for secure and cost-effective alternatives to traditional aircraft and helicopters. This sector is expected to grow by approximately 15% annually, reaching $157 billion