MBF Group S.A., a NewConnect-listed company specializing in commodity trading and expanding its presence in the defence technology sector, has announced the signing of two key annexes to its consortium agreement with Squadron Sp. z o.o. and the Eugeniusz Kwiatkowski Polish Industrial Lobby. The annexes define the framework for financing and profit-sharing within the IRYDA PLUS project and mark the start of funding for its first implementation phase.
Annex 1 specifies the detailed rules for the distribution of revenues and profits, the participation of investors in subsequent stages, and the rules regarding intellectual property. It has been agreed that all results of the work (Foreground IP) will be allocated to the consortium members in the following proportions: MBF Group – 47.5%, Squadron – 47.5%, PLP – 5%.
As the leader of the consortium, the issuer is the only entity authorized to conduct talks with investors, which ensures consistency and uniform representation vis-à-vis the capital environment. The document also regulates revenues from commercialization, including sales of the IRYDA PLUS system, licenses, grants, subsidies, simulators, and training.
Appendix 2 concerns the financing of the first stage of the project, which aims to build a demonstrator of the IRYDA PLUS technology. The stage is scheduled to be completed on April 30, 2026, when a public presentation will take place. The demonstrator will include a complete demonstration model with a length and wingspan of approximately 3 meters, equipped with a 7.62 mm caliber gun gondola, a movable observation module, a navigation light system, and integration with virtual simulation, which will allow for the recreation of realistic combat scenarios with air targets. The whole will be complemented by a transport container, enabling the use of the demonstrator at trade fairs, shows, and tests.
The MBF Group emphasizes that the signing of both annexes is an important step towards the commercialization of the IRYDA PLUS system – Europe’s first C-UAS (hard-kill) fighter drone designed to combat swarms of drones and loitering munitions. Work on a fully functional prototype is scheduled to be completed at the turn of 2026 and 2027, which will pave the way for the system to be offered for sale and prepared for serial production.
