Prague, February 21, 2022 – Primoco UAV SE announces that it has ceased its activities in the Russian Federation as of January 31, 2022 and sold 100% of its shares in its subsidiary AO Primoco BPLA. The only reason for this decision is the sanctions regime against the Russian Federation and the impossibility of obtaining the export license needed to operate its drones. In the local market, the company focused exclusively on providing aerial work, DaaS services (drone-as-a-service), in the civil sector.
“Diplomatic relations between the Czech Republic and the European Union on one hand and Russia on the other hand are at a low point. As a result, we cannot meet our commitments and develop our business in the Russian market. In 2022 alone, AO Primoco BPLA lost contracts worth RUB 1 billion (EUR 12 million). I don’t expect any major improvement in relations between Europe and Russia in the foreseeable future, so we have decided to take this decision and sell 100% of the shares,” said Ladislav Semetkovský, CEO.
About the Company
The Czech company Primoco UAV develops and manufactures civilian and military unmanned aircraft One 150. These are aircraft capable of flying completely independently according to programmed flight plans, including fully automatic take-off and landing. One of the key features of the aircraft is its exceptional endurance, thanks to which it can spend more than 15 hours non-stop in the air at a cruising speed of 100-150 km/h which represents a range of up to 2,000 km. With a maximum take-off weight of 150 kg and a payload of 30 kg, the One 150 can be used for a wide range of deployments in both civil and military operations. The company’s aircraft is currently used on three continents for inspections of product pipelines and distribution networks in the energy sector, ensuring border and coastal security, monitoring fires or in search and rescue operations. Primoco UAV SE is a publicly-traded company on the Prague START market.