Fire Point, the maker of Ukrainian Flamingo cruise missiles, is in talks with European companies to introduce a new air defense system next year, Reuters reported.
The system is said to be a more affordable alternative to the increasingly difficult-to-obtain Patriot system.
The company’s co-founder and chief designer, Dennis Stillerman, said Fire Point aims to reduce the cost of shooting down ballistic missiles to less than $1 million.
He also said the company is awaiting government approval to receive investment from a major Middle Eastern conglomerate. The conglomerate values the company at $2.5 billion and could open up new areas of development, including low-orbit satellite launches.
Years of experience on the battlefield against Russian forces have made Ukraine a leading innovator in relatively inexpensive defense technology. Since the outbreak of the Gulf War, Kyiv has sought to use that experience to forge security cooperation agreements with regional governments.
