The German defense manufacturer Rheinmetall and the Dutch firm Destinus, established by the Russian businessman Mikhail Kokorich, are forming a partnership to create a combined business focused on the manufacture of rocket systems.
Destinus previously had Ukrainian stakeholders amongst its investors. In 2022, the fledgling company secured around $29 million in funding, with participation from Victoria Tigipko’s Ukrainian TA Ventures via the ICLUB investment platform.
The newly formed JV, Rheinmetall Destinus Strike Systems, will see Rheinmetall hold a controlling interest of 51%, with Destinus owning the remaining 49%. Manufacturing is slated to commence in the latter part of 2026, pending authorization from governing bodies. The organization will produce, promote, and distribute rocket systems, encompassing both cruise and ballistic types.
Rheinmetall will offer its manufacturing capabilities and mass production expertise at its German plants, while Destinus will contribute its technological advancement and engineering know-how within Europe. The initiative will primarily serve the European and NATO markets, where the requirement for rocket systems, as estimated by both companies, reaches thousands annually.
Destinus was the brainchild of Mikhail Kokorich, a Russian-born businessperson with a history in aerospace and retail, notably with Momentus Space, which became publicly traded on Nasdaq through a SPAC and later encountered regulatory hurdles in the United States.
This endeavor is perceived as contributing to the growth of the European defense sector, addressing the heightened need for rocket systems and the intensified military build-up initiatives throughout NATO member states.
Source: forbes.ua