Egyptian company X-GEN plans to increase its investments fivefold to about EGP 5 billion, or US$92.3 million, over the next three years. The company is working to localize drone and robotics manufacturing in Egypt. Founder and CEO Amir Waheed outlined the plan in an interview with Asharq Business.
Partnership and funding details
X-GEN is pursuing partnerships in China, France, and Saudi Arabia to support technology transfer. The company wants to combine imported technologies with Egyptian-made components. Its direct and indirect investments have already reached about EGP 1 billion since its founding a few months ago.
Local component levels
Some firefighting systems based on imported drones have local components of about 15%. Their operating mechanisms are manufactured in Egypt. One founding partner has produced an Egyptian drone with about 95% local content, including the airframe and other parts.
Business model and markets
X-GEN sells services rather than equipment. It has started projects in Libya and is developing relationships and projects in Saudi Arabia. Planned applications cover electricity, energy, agriculture, facilities management, and firefighting.
The company plans to enter additional neighboring markets in the coming period. It has not disclosed the value of its regional operations or identified its next target markets. The company currently relies on shareholder funding, with ownership held by Egyptian entities.