Investment company Renewable Ventures has completed the reverse acquisition of drone company Xer Tech, in line with a previously communicated agreement. The transaction means that the company will change its name to Xer Tech and that it will get both a new board and management. In connection with the transaction, the company has also carried out a directed share issue of approximately SEK 80 million, as previously communicated.The share will continue to be listed on Spotlight Stock Market. "Stockholm is a natural choice for listing thanks to the large, highly educated workforce and the deep base of knowledgeable investors who understand technology – both critical for our future growth plans," says incoming CEO Erik Herlyn to Finwire. He sees a clear opening in the market for the company's heavy drones that are designed for industrial use. "Nearly half of the capital will be used to expand our sales channels, while around 40 percent will support R&D, regulatory processes, and scaling up our manufacturing and supply chain to meet the expected rising demand."He is very positive about the future. "The market for unmanned aerial vehicles has reached an inflection point, largely as a result of increasing defense budgets in NATO countries, which is creating significant market demand for our drones. We expect our revenues to rise from USD 3 million in 2025 to USD 240 million in 2030, with EBITDA of USD 110 million. Xer Tech's heavy drones will play a key role in defending Europe and strengthening industry for many years to come," Herlyn concludes. After the transactions, Rex via Rex Technology Investments owns approximately 50.4 percent and Monarch Marine Holding approximately 24.5 percent of the shares. Other large shareholders are Öresund Growth Partner, Cidro Förvaltning and Selandia Invest.