Paras Defence and Space Technologies has entered into a Memorandum of Understanding (MoU) with Israel’s HevenDrones to establish a joint venture focused on manufacturing hydrogen-powered logistics drones.
This collaboration aims to address the logistical challenges faced by the Indian Armed Forces, particularly in remote and high-altitude regions.The joint venture will leverage Paras Defence’s extensive engineering and manufacturing infrastructure in India, combined with HevenDrones’ advanced drone technology, to produce next-generation unmanned aerial vehicles (UAVs) tailored for defence and homeland security applications. These hydrogen-powered drones are expected to offer enhanced endurance and modular payload capabilities, making them suitable for a variety of missions, including tactical surveillance, supply chain logistics, and operations in challenging terrains.
Munjal Sharad Shah, Managing Director of Paras Defence, emphasized the strategic importance of this partnership, stating, “India is a priority market for drone deployment at scale, and HevenDrones’ combat-tested portfolio provides a strategic edge. This joint venture enables us to deliver world-class ‘Made in India’ drone systems for both local and global markets.”The collaboration aligns with the Indian government’s “Atmanirbhar Bharat” initiative, which seeks to promote self-reliance in defence manufacturing. By establishing a domestic production facility for advanced drone systems, the joint venture aims to reduce dependence on foreign suppliers and enhance India’s indigenous defence capabilities.
Financially, Paras Defence has demonstrated robust growth, with a consolidated net profit of ₹19.72 crore in Q4 FY25, reflecting a 97.79% increase over the previous quarter. Revenue from operations also rose by 35.81% to ₹108.23 crore during the same period. This strong financial performance underscores the company’s capacity to support and scale the new venture effectively.
The joint venture’s focus on hydrogen-powered drones is particularly timely, given the global emphasis on sustainable and eco-friendly technologies. Hydrogen fuel cells offer a cleaner alternative to traditional battery-powered systems, potentially reducing the environmental impact of drone operations.
As the Indian defence sector continues to modernize, partnerships like the one between Paras Defence and HevenDrones are expected to play a pivotal role in advancing indigenous technology solutions. The successful implementation of this joint venture could set a precedent for future collaborations in the defence technology space, contributing to a more self-sufficient and resilient defence infrastructure in India.
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Paras Defence teams up with HevenDrones for hydrogen drones
