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Nordic Unmanned has entered into an agreement giving the company control of 55
per cent of the shares in DroneMatrix, a leading drone technology company in
Belgium. The investment will strengthen Nordic Unmanned’s position in Europe,
complement existing solutions in every market vertical, and accelerates the
growth and development of DroneMatrix.
“The partnership with DroneMatrix enables both companies to scale their
commercial offerings through new services and solutions. DroneMatrix’s fully
autonomous AI-powered Drone-In-A-Box solution will add significant value to all
our verticals, especially the Security vertical. Furthermore, the fact that the
technology is proven, with success in the Port of Antwerp-Bruges, ensures
immediate scalability that will affect the Nordic Unmanned order backlog and
2022 revenues positively. The solution will immediately be added to Nordic
Unmanned’s portfolio and be added to our LUC flight permit,” explains CEO Knut
Roar Wiig.
DroneMatrix is a leading European drone technology company implementing
Drone-In-A-Box solutions, including autonomous drones, intelligent docking
stations and proprietary AI-based software allowing autonomous drones to detect
and follow objects. Drone-In-A-Box is emerging as a growth segment within the
drone industry. It represents the next phase of industry development as it
allows for centralized, remote operations of drones, enabling rapid upscaling of
lightweight drone operations.
DroneMatrix was recently awarded a breakthrough contract by the Port of
Antwerp-Bruges. The three-year service contract, commencing in the third quarter
of 2022, includes six Drone-In-A-Box units distributed across the port. The
drones will be used for autonomous monitoring of the port. In addition, the
drone solution will be used on-demand to inspect for oil leaks, assist in
emergency situations, rail inspections and parameter control. This contract
represents the largest of its kind awarded so far in Europe and opens for
multi-client sharing of the service and data collected.
“DroneMatrix is ready for a partnership with a solid, like-minded, and ambitious
business partner to realise the promising opportunities and enable future
ambitious growth plans. We have found a solid partner in Nordic Unmanned, the
global leader in drone systems and services. The partnership enables us to scale
our company and solutions while continuing running the operations and shaping
our identity,” says DroneMatrix CEO Lander Vanwelkenhuyzen.
Nordic Unmanned will, through share purchase and an equity issue, obtain control
of 55 per cent of the shares of DroneMatrix. The share purchase of EUR 0.975
million will be settled on closing, expected at end of Q2. The EUR 1.5 million
equity contribution will be fully paid before the end of 2022. The contributed
equity will ensure capital for the scale-up and further development of the
company.
The transaction reflects a valuation of DroneMatrix on an enterprise value basis
of EUR 3 million. Within the next three years, Nordic Unmanned will acquire the
remaining shares based on a pre-agreed performance-based valuation matrix, with
a minimum valuation of EUR 3 million and a maximum valuation of EUR 8 million on
an enterprise value basis. Until then, the outstanding 45 per cent of the shares
remain with the founders of DroneMatrix, the Vanwelkenhuyzen family.
Founder Frank Vanwelkenhuyzen, CEO Lander Vanwelkenhuyzen and the current
management team will continue to oversee the operations and the future
development of the company.
“We are very excited about the identified synergies between Nordic Unmanned and
DroneMatrix. The combination of Drone-In-A-Box solutions and our BG Rail and BG
Cargo drones will enable us to advance our planned services within rail, and
cargo delivery onshore and offshore. The Nordic Unmanned Operation Centre will
remotely control the Drone-In-A-Box operations. In addition, Nordic Unmanned
will gain access to the Benelux market for our existing portfolio of solutions
and services,” says CEO Knut Roar Wiig.
DroneMatrix had revenues of EUR 324,000 and a gross margin of 77 per cent in
2021. Revenues for 2022 are expected to double.
“DroneMatrix has been at the forefront of the development of Drone-In-A-Box
solutions for a number of years. They have tested the use case with early
adopters, and it is now believed that several industries are ready to take on
board this new technology in the very near future. We see a significant increase
in interest and use cases around the DroneMatrix solution and believe that the
timing is perfect for accelerating the rollout of these products to a wider
market,” says CTO of Nordic Unmanned, Steffan Lindsø.
The existing solution is currently deployed and operating in the Port of
Antwerp-Bruges and on a large solar power plant in Spain.
DISCLOSURE REGULATION
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
CONTACTS
- Eilin Fransman, Head of Marketing & Communications, Head of Marketing &
Communications, +47 458 60 335, efr@nordicunmanned.com
- Knut Roar Wiig, CEO, +47 92 66 66 59, krw@nordicunmanned.com
- Trond Østerhus, CFO, +47 95 99 08 79, to@nordicunmanned.com
ABOUT NORDIC UNMANNED
Nordic Unmanned is global leader of high-end products and services related to
drones and data capture. Through world-wide operational experience and industry
leading expertise, Nordic Unmanned supports large governmental and industrial
clients in the adaption of unmanned systems and services.
Founded in 2014, the Group has offices in Sandnes, Oslo, Molde, Odense (DK),
Cranfield (UK) and Arnsberg (GER) and has quickly become one of Europe’s leading
providers of unmanned systems and services, with operations across the
continent. The Group is ISO 9001-2015 and certified by for the operation,
maintenance, sale, design, development, and production, with of unmanned systems
and sensor technology. and sensor technology. The production is also AS9100
certified.
For more information visit nordicunmanned.com - https://nordicunmanned.com/
About DroneMatrix
DroneMatrix is a leading hi-tech company building and implementing the next
generation of aerial robotic technology. These automated intelligent drone
solutions are safe, reliable and flexible to implement in any kind of industrial
environment. Central in the offering is a highly reliable ‘drone-in-a-box’
technology (YACOB), characterized by high quality and highly reliable data
connectivity and controlled based on a flawless and comprehensive Command &
Control UOM platform, the Aerial Robotic Worksystem (AR-WS).
DroneMatrix is the founding father of the unmanned drone technology in Belgium
and responsible for the development of the commercial air layer operated by
aerial robotics (6th NeTWorK). DroneMatrix is committed to making its mark in a
growing global unmanned market through important references and solid
partnerships.
Founded in 2015 by the family Vanwelkenhuyzen and located in Hasselt, Belgium.
For more information, please visit www.dronematrix.eu -
http://www.dronematrix.eu/
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