HelioTech, an advanced VTOL aircraft company and the latest addition to the venture investment portfolio of The Strategic Development Fund (SDF), has signed a Memorandum of Agreement (MoA) with Avio Aero, one of the leading companies in the aviation industry that manufactures civil and military aviation propulsion systems.
The MoA will allow HelioTech and Avio Aero to identify cooperation opportunities in the development of HelioTech products’ rotorcraft transmissions. The agreement was signed at the SDF stand at the Tawazun Council’s chalet, on the sidelines of IDEX and NAVDEX 2023, held in Abu Dhabi.
The MoA was signed by Mr. Sultan Al Kaabi, Senior Advisor at SDF and Managing Director of HelioTech, and Paolo Salvetti, Avio Aero Senior Sales Director, in the presence of Mr. Abdulla Nasser Al Jaabari, Managing Director and Chief Executive Officer of SDF and Chairman of HelioTech, and Mr. Abdulla Al Jneibi, Principal investments at SDF and board member of HelioTech.
Mr. Sultan Al Kaabi, Senior Advisor at SDF and Managing Director of HelioTech, shared that “the MoA is part of HelioTech’s plans to partner with top tier industrial companies that will support our roadmap to establish an international distribution, manufacturing, and production network, enabling HelioTech to enter crucial global markets. This cooperation with Avio Aero is one of several other strategic collaborations that we will be developing with innovative suppliers in the industry, delivering our unique solutions to our customers while making a significant contribution to the UAE’s rotorcraft industrial capabilities.”
“We look forward to seeing these products have a significant presence among our customers as they meet their strategic and operational requirements,” Mr. Al Kaabi added.
Mr. Abdulla Al Jneibi, Principal investments at SDF, and board member of HelioTech, commented that “these international partnerships by HelioTech, one of the SDF portfolio investments, confirm SDF’s commitment to its strategy and developing companies leveraging international partnerships, to develop and advance technologies companies serving multiple strategic purposes.”
Mr. Pierfederico Scarpa, Strategy, Marketing, and Sales Vice President of Avio Aero, noted that “we believe that this collaboration with HelioTech will enable a long-term partnership between two companies committed to innovate and deploy disruptive market solutions. This agreement represents a proof of our worldwide recognised expertise and capabilities in helicopter power transmissions.”
