Latest news with #HevenDrones
Business Upturn
23-05-2025
- Business
- Business Upturn
Paras Defence and Heven Drones form Joint Venture to manufacture cargo drones in India
By Aman Shukla Published on May 23, 2025, 14:58 IST Paras Defence and Space Technologies Limited has entered into a joint venture agreement with Heven Drones Ltd. of Israel, marking a significant step towards enhancing indigenous drone capabilities in India. This collaboration, formalized through a Joint Venture Agreement dated May 23, 2025, aligns with the Government of India's Make in India initiative, focusing on the development and production of logistics and cargo drones for both defence and civil applications. The new entity, proposed to be named either Paras Heven Advanced Drones Private Limited or Paras Heven Drones Private Limited—subject to approval from the Ministry of Corporate Affairs—will be established as a subsidiary in India. Paras Defence will hold a 51% stake, while Heven Drones will retain 49%. Both companies will nominate two directors each to the board, ensuring joint governance and strategic input from both sides. The venture will initially be capitalized at ₹1,00,000, divided into 10,000 equity shares of ₹10 each. Paras Defence will subscribe to 5,100 shares, amounting to ₹51,000, paid in cash. Heven Drones will subscribe to the remaining 4,900 shares. These transactions are not classified as related party transactions, and no conflicts of interest have been disclosed. This move reflects Paras Defence's continued focus on emerging technologies in the aerospace and defence sector. With the Indian government placing increased emphasis on domestic manufacturing, this partnership is positioned to contribute to the country's strategic and technological autonomy. The new venture will operate within the defence and logistics industry, targeting the growing demand for drone-based solutions in both military and civilian markets. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Standard
06-05-2025
- Business
- Business Standard
Paras Defence inks MoU with Israel's HevenDrones to form JV for defence logistics drones
Paras Defence and Space Technologies said that it has signed a memorandum of understanding (MoU) with Israel-based HevenDrones to establish a joint venture for manufacturing logistics and cargo drones in India. The joint venture (JV) will establish a new entity in India to design, manufacture, and supply next-generation drone systems tailored for Indias defence and homeland security landscape, with long-term plans to address global markets. The JV combines Paras Defences engineering and manufacturing ecosystem with HevenDrones proprietary platforms. It will serve as the exclusive vehicle for bringing this revolutionary hydrogen-powered drone technology to India for the first time. This partnership positions the JV among the first in the country to offer ready-to-fly, proven hydrogen-powered drones with enhanced flight endurance and modular payload capabilitiesdesigned, manufactured, and deployed from Indian soil. The JV will prioritize deployment in domains such as logistics support for remote and border regions, tactical surveillance, defence supply chains, and high-altitude missions. Munjal Sharad Shah, managing director, Paras Defence and Space Technologies, said, India is a priority market for drone deployment at scale, and HevenDrones combat-tested portfolio provides a strategic edge. This JV enables us to deliver world-class Made in India drone systems for local and global markets. Bentzion Levinson, CEO, HevenDrones, stated, This collaboration marks a significant milestone in our roadmap as we work to ensure an allied global business footprint. Paras Defence brings unmatched engineering capabilities, manufacturing infrastructure, and deep knowledge of Indias defence ecosystem. Together, we are contributing to the Atmanirbhar Bharat mission and setting a new benchmark in performance-driven UAV solutions for global markets. The companys consolidated net profit zoomed 97.79% to Rs 19.72 crore on 35.81% rise in revenue from operations to Rs 108.23 crore in Q4 FY25 over Q4 FY24. Additionally, the company's board has also approved splitting one equity share, which currently carries a face value of Rs 10 each, into two equity shares of Rs 5 each. The record date for the stock split will be informed in due course.
Economic Times
06-05-2025
- Business
- Economic Times
Paras Defence shares jump 4% after MoU with Israel's HevenDrones to set up JV for defence logistics drones
Paras Defence and Space Technologies shares climbed as much as 3.9% on Tuesday to Rs 1,429.30 on the BSE after the company announced it has signed a Memorandum of Understanding (MoU) with Israel-based HevenDrones to explore opportunities in the defence and civil drone markets. ADVERTISEMENT "We are pleased to inform you that Paras Defence and Space Technologies Limited ('PARAS') has entered into an MOU (Memorandum of Understanding) on May 05, 2025 with Hevendrones Ltd., ('HD'), Israel with an intent to create new opportunities and expand both parties' business in the Indian and Global Defence sector," the company said in a regulatory filing. As part of the agreement, both companies plan to establish a joint venture in India to develop and manufacture logistics and cargo drones. The initiative aligns with the Indian government's 'Make in India' programme and aims to serve domestic and international markets. This marks Paras Defence's second partnership with an Israeli firm in recent weeks. Earlier this month, the company signed an MoU with MicroCon Vision, part of the Controp and Rafael Group, to strengthen India's defence and drone ecosystem. Earlier this year, Paras also received a licence to manufacture light machine guns. Also Read: 5 timeless Warren Buffett quotes every investor should know In the March quarter of FY25, Paras Defence reported a 97% year-on-year jump in net profit to Rs 19.7 crore, up from Rs 10 crore a year earlier. Revenue rose 36% YoY to Rs 108.2 crore. ADVERTISEMENT EBITDA surged to Rs 28.3 crore from Rs 3.4 crore in the same period last year, while margins expanded to 26.2% from 15.6%. Also Read: 8 Nifty Microcap stocks that can jump 100-230% in the next 12 months ADVERTISEMENT On Monday, Paras Defence shares closed 2.1% higher at Rs 1,375.7 on the BSE, while the benchmark Sensex rose 0.37%. The stock has gained 37% year-to-date and 154% over the past two years. Its current market cap stands at Rs 5,543 crore. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Yahoo
21-03-2025
- Business
- Yahoo
US-Israel team up to build hydrogen drones with HIMARS-like 180-mile strike range
In a significant development in the military drone sector, California-based Mach Industries has announced its collaboration with Israeli drone manufacturer Heven Drones to make hydrogen drones for the US military. Together, they aim to produce hydrogen fuel cell-powered drones designed for military applications. This partnership seeks to counteract China's growing dominance in the drone market by introducing advanced technologies that they believe will enhance operational capabilities. The centerpiece of their proposal is the new H2D250 drone, which leverages hydrogen fuel cells to achieve remarkable operational range and payload capacity. According to reports, this drone can strike targets located up to 180 miles away while carrying a warhead weighing up to 22 pounds. Benzion Levinson, CEO of Heaven Drones, stated in a recent interview with Defense One that the companies had set an ambitious production goal of around 1,000 H2D250 drones each month, with hopes to escalate to daily production levels of 1,000 units in the future. The venture capitalizes on decades of research into hydrogen fuel cells in the United States. In the 1990s, NASA conducted a series of experimental projects exploring the viability of unmanned aircraft operated by solar and hydrogen fuel cell technologies. Designed by AeroVironment, Inc., these experimental drones were originally intended as precursors for high-altitude platforms that could be used for atmospheric research and communications. In tandem with NASA's efforts, the Office of Naval Research has also investigated hydrogen power options in collaboration with military and private sector partners, aiming to develop practical fuel alternatives for battlefield conditions. According to the Office of Naval Research, hydrogen fuel cells present advantages for operations that require stealth. The electrochemical processes employed in fuel cells generate less noise and operate at lower temperatures than traditional combustion engines, resulting in a decreased thermal signature. Furthermore, a significant benefit of hydrogen fuel cells is their environmental impact. Water is the only byproduct of the electrochemical reaction used to generate energy, which aligns with the Pentagon's commitment to reducing carbon emissions. Levinson emphasized that research progress has demonstrated that just one pound of hydrogen fuel can provide a drone with about 10 hours of flight time. The latest hydrogen fuel cell technology advancements enable operators to implement sophisticated autonomy features in these drones. This could reduce reliance on human operators who would otherwise need to relay instructions through channels vulnerable to cyberattacks. Additionally, Heven Drones has worked on developing hydrogen refueling stations that can be deployed at remote locations, diminishing reliance on potentially vulnerable supply chains for fuel resupplies. Despite the promising technology, both companies face a significant hurdle. China remains the primary supplier of critical components for battery production, including materials essential for developing these drones. This partnership aims to innovate in drone technology and establish a domestic supply chain for drone components and systems. As Mach Industries and Heven Drones move forward with their innovative plans, the collaboration underscores a shift towards more sustainable and advanced military technologies when global competition in the drone market intensifies. As they develop, there is keen interest in how these advancements could reshape aerial capabilities and strategic dynamics in military operations.
Axios
18-03-2025
- Business
- Axios
Exclusive: Mach Industries and Heven Drones partner on defense production
Mach Industries and Heven Drones are teaming up, with previously undisclosed plans to produce the latter's unmanned aerial vehicles at the former's flagship factory, Forge Huntington. The big picture: California-based Mach Industries and Heven Drones, which is located in Florida and with roots in Israel, want to together "provide an offset" to Chinese dominance in the drone market, they told Axios. Pentagon officials used similar language to describe Replicator 1.0, launched in 2023 to amass thousands of unmanned battlefield assets. Zoom in: Heven's H100, H2D55 and Raider drones will be pumped out at the plant, 115,000 square-feet down the road from other defense-tech players like Anduril Industries. There are commitments to codevelop components, including avionics, radios and propulsion systems. Heven specializes in hydrogen-powered aircraft. It unveiled Raider in February at the International Defence Exhibition and Conference in Abu Dhabi. What they're saying: "Our customers urgently need thousands, and eventually tens of thousands, of drones to be deployed in-theater," Heven Drones CEO Bentzion Levinson said. The goal here, he added, is "quick-turn, full-scale American manufacturing." Flashback: Mach weeks ago said it was selected by the U.S. Army Applications Laboratory to work on a vertical-takeoff cruise missile dubbed Strategic Strike. HIMARS range, cruise missile speed and Hellfire effects."
