The Strategic Development Fund (SDF), the investment arm of Tawazun Council, announced it will be presenting Helio Aviation Technologies (HelioTech), one of its latest additions to its venture investment portfolio, at Abu Dhabi’s (International Defense Exhibition) IDEX 2023.
HelioTech, a UAE based company, will focus on the design and manufacturing of its own proprietary and unique VTOL aircrafts for commercial and security applications.
HelioTech’s initial efforts will center on the development and production of manned and unmanned single engine helicopters based on cutting edge coaxial technology.
HelioTech has commenced the design and development of a family of products within the VTOL aircraft sector, which will be showcasing a selection of its products for the non-civilian market at SDF’s stand within the Tawazun Council pavilion at the exhibition.
H.E. Tareq Abdulraheem Al Hosani, Secretary General of Tawazun Council, praised the launch of the new entity, saying: “The launch of HelioTech is a significant step in advancing the UAE’s aviation, defense 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”.
Abdulla Naser Al Jaabari, Managing Director & Chief Executive Officer of SDF, the Chairman of HelioTech, said “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 defense industries.
“SDF is committed to positioning HelioTech as a leader in the industry, and as part of its strategic roadmap, business expansion and technological advancement, we will be integrating and creating synergies with some of SDF’s current international portfolio.
“Furthermore, we aim to partner with international industry players and investors to further expand and develop the business”.
Sultan Al Kaabi, senior adviser in SDF and the Managing Director of HelioTech, commented “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.
“Furthermore, HelioTech plans to set up an international distribution, manufacturing and production network to enable HelioTech to enter key global markets.
“We have started taking several steps in building our team comprised of top international and young Emirati talent.
“Moreover, 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”.