Uncategorized

Trentar acquires 75% stake in drone propulsion system startup Trishula

Trentar Pvt Ltd has recently announced that it has acquired a 75% stake in Hyderabad-based Trishula, a UAV propulsion system startup.

“This acquisition will focus on making India independent and self-sufficient in the UAV propulsion systems, a long-standing agenda for the Indian UAV industry. It will also help put India on the World map of Propulsion systems,” the company said in a statement.

The acquisition comes as a part of its ₹100-crore investment in drone manufacturing. Trentar had recently acquired GarudaUAV, a leading Drone based services and platform company and also launched the Drone Manufacturing Division with its own VTOL UAV due for release early 2022.

The liberal drone policies recently released by the Indian government has opened the UAV industry. “This acquisition backed by the commitment of Trentar will not only help foray the “Make in India” theme but at the same time make India and the Indian Drone manufacturers “Atmanirbhar” in the propulsion subsystem,” the company further stated. 

Subodh Menon, Founder, Trentar said, “Completely Indigenous UAV is the Vision we have for Trentar… This acquisition will transform Trishula into a formidable leader in the global propulsion industry and pave way for India to be the go-to market for the UAV Subsystems – in terms of procurement and innovation. We are also committed to drive the Atmanirbhar mantra and cater to the needs of the defence, indigenously.”

Commenting on the acquisition, Sudhir Menon, Chairman, Trentar said, “Trentar’s main objective will be to provide the necessary tail wind to Trishula to be one of the leading players in the segment, globally.”

Further, Prudhvi Raj, Founder of Trishula, said, “In the last 3 years, Trishula was focused on creating world-class propulsion systems which are designed, developed and produced ground up in India… We strongly feel that our culture of innovation backed by the vision and strength of Trentar will help us deliver world class products.”

The Union government had on September 15 approved a production-linked incentive (PLI) scheme for drones and drone components with an allocation of ₹120 crore spread over three financial years.

The ministry had on August 25 notified the Drone Rules, 2021 that eased the regulation of drone operations in India by reducing the number of forms that need to be filled to operate them from 25 to five and decreasing the types of fees charged from the operator from 72 to four.

The framework has been issued under the Drone Rules, 2021, only.

 

Subscribe to Mint Newsletters * Enter a valid email * Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!


Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
%d bloggers like this: