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The government backed National Wealth Fund is investing £113 million in UFORCE, a Ukrainian founded defence technology company headquartered in the UK. The Ministry of Defence, the National Wealth Fund and HM Treasury announced the deal on 12 November 2026.
The money will help UFORCE expand its British operations and move production of combat proven drones to the UK. The government says the move will create hundreds of high skilled jobs and strengthen the domestic defence supply chain.
At a Glance
- The National Wealth Fund is investing £113 million in UFORCE as part of the company's $700 million Series A funding round.
- More than 70% of the content of each UK built UFORCE boat will come from British suppliers, according to the government.
- The investment is expected to create hundreds of high skilled jobs in engineering, software, artificial intelligence and advanced manufacturing.
- Defence Secretary Wes Streeting remotely piloted a UFORCE uncrewed vessel from HMS Prince of Wales in Norway while the boat was more than 1,500 miles away.
- The government says the UK will act as a base to support allies, including Joint Expeditionary Force nations, with a focus on operating in Northern seas.
What Is the £113m UFORCE Investment?
The £113 million comes from the National Wealth Fund, which is backed by the government, and forms part of a larger Series A funding round for UFORCE worth $700 million, which the announcement puts at over £525 million. The government says the money will back the company's expansion and advanced manufacturing in Britain.
UFORCE describes itself, in the government's words, as a Ukrainian founded, UK headquartered company developing combat proven autonomous and uncrewed systems across sea, land and air. The announcement says it will expand its UK engineering, training and production team, and build a British supply chain for hulls, engines, electronics and fit out.
The government says the expansion will make the UK a major hub for the software, command and control and production capabilities that underpin UFORCE's wider growth. The investment is also described as scaling British production, engineering and delivery of the company's systems for the UK, Ukraine and allied nations.
How Many UK Jobs and How Much British Content?
The headline jobs figure is vague. The announcement says the investment will create "hundreds" of high skilled jobs across engineering, software, artificial intelligence and advanced manufacturing. It does not give an exact number, a location for the new roles or a timetable for hiring.
The supply chain pledge is firmer. More than 70% of the content of each UK built boat will come from British suppliers, with hulls, engines, electronics and fit out all sourced in the UK. The release does not say how many boats are planned, where they will be built or what they will cost.
On skills, the company will develop and sponsor apprenticeships in partnership with universities and colleges across the UK. No numbers or named institutions were published.
Defence Secretary Pilots Uncrewed Boat 1,500 Miles Away
The government paired the funding news with a live demonstration. According to the announcement, Defence Secretary Wes Streeting piloted a UFORCE MV7 uncrewed vessel aboard HMS Prince of Wales in Norway. The boat, part of the Magura family, was located more than 1,500 miles away in the Atlantic Ocean near Portugal.
The demonstration is offered as evidence of what the technology can do. The government does not say what the vessel was doing at the time or whether similar craft are expected to enter UK service.
UFORCE Investment, What Healey, Streeting and the National Wealth Fund Said
Chancellor of the Exchequer John Healey said the investment would mean "more high skilled jobs, new investment and a stronger British Armed Forces". He described it as "exactly what the National Wealth Fund was set up to do", strengthening "both our economic and national security".
Mr Streeting said "Ukraine is rewriting the rules of warfare", adding that in a few years the UK had "gone from training Ukraine to being trained by Ukraine". He said bringing that expertise to Britain would create jobs, spur innovation and strengthen warfighting readiness.
Oliver Holbourn, chief executive of the National Wealth Fund, called the deal "a testament to the special relationship that the UK and Ukraine have fostered". UFORCE chief executive Oleg Rogynskyy said the UK was an early supporter of Ukraine's defence technology ecosystem and that the company was pleased to help Britain develop its own "in return".
The government presents the investment as an example of the UK-Ukraine 100 Year Partnership, which it says is deepening the defence industrial relationship between the two countries.
UK Defence Supply Chain, What the Deal Means for Allies
The government frames the deal around two aims. One is economic, jobs, investment and a larger domestic supply chain. The other is military, a source of combat proven autonomous systems for the UK and its partners.
The announcement says the UK will serve as a base to support allies such as the nations of the Joint Expeditionary Force, with a particular focus on capabilities for operating in Northern seas. It also says the expansion will support Ukraine and UK partners, including in Northern Europe.
Several details are not in the announcement. It does not give the UK sites involved, the number of vessels or other systems to be built, any UK Ministry of Defence purchase commitment, or the terms of the National Wealth Fund's stake. Those points are not yet public.
Key Takeaways
- The National Wealth Fund is investing £113 million in Ukrainian founded, UK headquartered drone maker UFORCE as part of a $700 million Series A round.
- The government says more than 70% of the content of each UK built UFORCE boat will come from British suppliers.
- The announcement promises hundreds of high skilled jobs and UFORCE sponsored apprenticeships, but gives no exact job numbers, locations or timetable.
- Defence Secretary Wes Streeting piloted a UFORCE MV7 vessel more than 1,500 miles away from HMS Prince of Wales in Norway.
- The government has not published how many vessels will be built, where, or whether the Ministry of Defence has committed to buy them.