Key facts
- Fire Point is tripling its investment in a Danish solid rocket fuel plant to 150 million euros.
- The plant is expected to start operations by late 2027.
- Fire Point's FP-7 ballistic missile is expected to be combat-ready by the end of September.
- The FP-9 ballistic missile, with a range of 800-850 kilometers, is expected by the end of the year.
- The company is involved in the Freyja project to develop an interceptor system.
Ukrainian defense company Fire Point is significantly increasing its investment in a solid rocket fuel plant in Denmark, raising its budget to 150 million euros ($175 million). CEO Iryna Terekh stated the additional funds are for a new building, as the original site did not meet requirements, and the plant is anticipated to begin operations by late 2027.
This development follows past uncertainty regarding the plant's future, with co-founder Denys Shtilierman previously claiming construction was 'on ice,' a statement denied by the Danish government which affirmed ongoing cooperation.
Fire Point, a key player in Ukraine's defense sector known for long-range drones and missiles, has been under scrutiny due to a corruption investigation involving Timur Mindich, a former associate of President Volodymyr Zelensky. Audio evidence has reportedly surfaced linking Mindich to Fire Point, though the company denies any connection.
Separately, Terekh confirmed that Fire Point's FP-7 ballistic missile, with a range of 300 kilometers (190 miles), is scheduled to be combat-ready by the end of September. Additionally, the FP-9 missile, capable of striking targets up to 850 kilometers (530 miles) away, is expected to be ready by the end of the year.
These advancements are seen as crucial for Ukraine, which has faced intensified Russian ballistic missile strikes amid dwindling air defense stockpiles. The deployment of its own ballistic missiles could help Ukraine level the playing field and strengthen its position in potential peace talks with Russia, as Terekh stated that 'Russians understand exclusively the language of strength.'
Fire Point is also participating in the European Freyja project, aimed at developing an interceptor system.