Denmark guaranteed a DKK750m (about €100m) loan to the Danish subsidiary of Ukrainian missile and drone maker Fire Point, which is building a solid rocket fuel plant near Skrydstrup Air Base in southern Jutland.
The financing is provided through the Export and Investment Fund of Denmark (EIFO), the Ministry of Business said on 21 October. The ministry said the war in Ukraine prevented Fire Point from taking out a loan in Denmark on normal market terms. Neither the ministry nor EIFO named a lender or disclosed the loan’s terms.
EIFO is better known in defence as a venture investor. It took part in nine European defence start-up rounds between January 2025 and September 2026, behind only the NATO Innovation Fund and Lakestar, according to a report by Dealroom and Resilience Media. In September it joined early-stage rounds for Norwegian drone swarm developer Six Robotics and Danish autonomous cargo aircraft maker Acodyne.
Peder Lundquist, EIFO’s chief executive, said the fund was involved in almost 40 projects supporting Ukraine. EIFO says it has DKK6.15bn of capacity for its Ukraine activities. Jeppe Bruus, Denmark’s defence minister, said producing outside Ukraine would help protect supply chains from Russian attacks.
Denmark invited Fire Point to set up production in 2025, under a government agreement allowing Ukrainian defence companies to manufacture in the country. The plant will make solid propellant for long-range missiles. Production is expected to start in late 2027, a year later than first planned.