Frankenburg Technologies, an Estonian manufacturer of low-cost air defense missiles, is planning to invest $52 million to establish a new facility in London for research and development of low-cost rocket motors, the U.K. government announced Tuesday.
British Prime Minister Keir Starmer called the company’s plan “a vote of confidence” in the United Kingdom and his strategy to attract foreign investors for the country’s growth and innovation. “Estonia is an incubator of innovation, while the U.K. is a launchpad for global growth, and I believe closer collaboration between our countries will deliver for hardworking British people for years to come,” the premier said.
Starmer was visiting Estonia for the two-day annual Joint Expeditionary Force summit that opened on Monday. He was scheduled to meet Estonian Prime Minister Kristen Michal and Frankenburg Technologies founder Taavi Madiberk on Tuesday.
Missile Systems Development
İn addition to its Estonian home base, Frankenburg Technologies already operates in Latvia, Lithuania and Ukraine. According to the company’s website, the goal of its rocket science business is to develop missile systems 10 times more affordable and a hundredfold faster to manufacture, with output surpassing current industry capacities.
London said Frankenburg Technologies is already sourcing a sizable portion of its subsystems from the United Kingdom in close collaboration with the British defense sector.