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Denmark Guarantees $112.6M Loan for Ukraine’s Flamingo Missile Maker Fire Point
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Denmark will guarantee a 750 million Danish kroner ($112.6 million) loan to the Danish subsidiary of Ukrainian drone and missile manufacturer Fire Point, Reuters reported on October 21.
The Danish government stated that the loan requires state backing because Russia’s war against Ukraine prevents Fire Point from borrowing under ordinary commercial terms in Denmark.
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Fire Point is a Ukrainian defense manufacturer that began with long-range strike drones before expanding into cruise and ballistic missiles, air-defense interceptors, and other weapons systems. The company developed the FP-1 and FP-2 strike drones and the FP-5 “Flamingo” cruise missile, which has a range of roughly 3,000 kilometers and a warhead of about 1,150 kilograms.
It is also developing new ballistic missiles and interceptor systems as part of a broader push to expand Ukraine’s domestically produced long-range weapons.
Financing will be provided through Denmark’s Export and Investment Fund, known as EIFO, Reuters wrote.
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Fire Point is preparing to produce fuel for long-range missiles in Denmark, with the facility expected to begin operations by the end of 2027.
Danish Defense Minister Jeppe Bruus noted that locating production outside Ukraine will help protect critical parts of the company’s supply chain from Russian attacks.
The Danish project forms part of Fire Point’s broader expansion into European defense production and cooperation.
In August, Fire Point signed agreements with more than a dozen European defense companies covering radar, guidance, and other systems for its Freyja missile-defense project, Reuters noted.
The company aims to develop Freyja as a Ukrainian-made alternative to the US Patriot air-defense system.
Fire Point’s move into Denmark follows Copenhagen’s earlier decision to host Ukrainian long-range missile fuel production, allowing Kyiv to shift parts of its defense manufacturing base beyond the reach of direct Russian strikes.
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