The President of the Pipistrel Group, Mr. Ivo Boscarol and the CEO of Genevation Aircraft, Mr. Istvan Viktor Szabo, have signed a technology transfer agreement to set up production and final assembly of the Pipistrel VIRUS SW aircraft and its components in Hungary.

Official signing of the contract occurred in witness of Prime minister of Hungary Mr. Viktor Orban and Prime minister of Slovenia Mr. Janez Jansa after the opening ceremony of the 53th International Entrepreneurial Fair (MOS) in Celje on the 15th September 2021.

Pipistrel's award winning aircraft family SW 121 has been identified as the ideal fit for the needs of future Hungarian aviation undertakings, with Genevation stepping up with their interest to manufacture, market and provide after-sales support for select markets. Following extensive coordination on technical, organisational, airworthiness and governmental levels, the two partners with support of the Governments are excited to announce that the cooperation has been signed.

The cooperation project valued at over 100 million EUR for a 10-year period shall establish:

- certified Aircraft Production Organization in Hungary

- final assembly in Hungary of Pipistrel SW 121 family aircraft for select domestic and international markets (Hungary, Russia and ex-USSR territories, African countries Visegrad countries, Turkey and Israel)

- cooperation in development of future opportunities and production of advanced composite structures, aircraft components, special mission programs and zero emission aircraft.

Preceding this agreement was the Governmental MoU, signed by, Dr. Gaspar Maroth, Hungarian Government Commissioner responsible for Defence Development and Zdravko Pocivalsek, Slovene Minister of Economic Development and Technology. The Governments have therein affirmed that Hungary is willing to promote and strengthen the growth of its defence industry, creating new production capabilities, increasing the knowledge as well as innovative solutions; where at the same time the Slovenia is highly supporting the bilateral and regional industrial cooperation, especially in the industries where significant advanced experience and traditional products have already been achieved and can be further capitalised.

We look forward to welcoming the opportunity which Hungarian produced Pipistrel aircraft will create as part of this cooperation, to deliver exceptional strategic value to stakeholders. All involved parties expect a significant arise of industry-wide engagement, forming enhanced global competitiveness, backed by skill and experience which Slovenia-Hungary regional connection is offering.