BiomX Establishes X Security & Defense in Israel with $3 Million Investment
BiomX Inc. has launched a wholly-owned subsidiary, X Security & Defense LTD., in Israel, with an initial investment of over $3 million. The subsidiary will focus on security, defense, and emergency response operations. BiomX has signed a non-binding LOI for exclusive distribution rights in Israel for a drone-based aerial firefighting system. This move marks BiomX's entry into the defense market, which is growing rapidly, particularly in the context of increased fire incidents in Israel.
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BiomX Inc. has launched X Security & Defense LTD. in Israel, investing over $3 million to fund operations related to security and emergency response. The subsidiary's first transaction involves a non-binding LOI for exclusive distribution rights in Israel for a drone-based firefighting system.
This system utilizes high-pressure water and fire retardants to enhance firefighting capabilities. The global market for UAVs in emergency responses was estimated at $3.2 billion in 2023 and is expected to grow significantly by 2032. The establishment of X Security & Defense aligns with increased government investment in Israel's emergency preparedness, with budgets over $500 million for fire and rescue services.
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