EDGE Becomes a Global Player in Non-Lethal Technologies by Acquiring Industry Leader CONDOR

ABU DHABI, United Arab Emirates & SAO PAULO--(BUSINESS WIRE)--May 1, 2024--

EDGE, one of the world’s leading advanced technology and defence groups, today announced the acquisition of 51% of Brazil-based CONDOR Non-Lethal Technologies (CONDOR), one of the top five industry leaders in Non-Lethal Technologies (NLT) worldwide. The acquisition of a shareholding in CONDOR, which boasts the world’s largest portfolio of over 160 NLT products, will boost EDGE’s capabilities and propel the group to become a global leader in the highly-specialised domain across defence, and public and homeland security. Together, both companies plan to expand market share in different NLT segments globally, and to enter new strategically important markets such as the USA. The historic deal was signed in Sao Paulo, and was witnessed by the senior leadership teams of both companies.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240501463604/en/

CONDOR has a footprint in over 85 countries and is the world’s foremost producer of tear gas and related products for military, civil defence, military and public security scenarios, and a leader in other non-lethal products including controlled impact rubber ammunition, smoke grenades, explosive and smoke hand grenades, pyrotechnics, tactical operation kits, sprays, drones with chemical irritant agents and command & control capabilities, electrical incapacitating devices, and body worn cameras with facial recognitions, among other products.

Hamad Al Marar, EDGE Group Managing Director & CEO, said: “This is a hugely significant development for EDGE. Having CONDOR as part of the group opens up new avenues for sustainable global growth and innovation, enabling us to diversify our offerings by partnering with a proven world leader in the design and manufacture of sophisticated NLT solutions. It also clearly demonstrates that our strategy of forming valuable ‘win-win’ partnerships in Brazil and elsewhere is delivering tangible results and benefits to all parties on an international scale.

“Our world is currently experiencing a period of not only increased civil unrest, immigration crisis, and street protests, but also major concerns about the levels of force used in combat situations in populated environments, asymmetric warfare, and post-war damage control, where non-lethal technologies play a relevant role. The challenges and pressures faced by concerned stakeholders from local law enforcement and defence forces continue to grow as a result. By absorbing the experience and knowledge provided by CONDOR, EDGE is able to bolster its exiting capabilities to deliver to customers an unbeatable and centralised range of technologies for the protection of life and humans rights, in multiple scenarios and situations.”

The global market in NLTs last year was worth approximately US$ 6 billion, and is expected to grow significantly by the end of the decade.

Carlos Erane de Aguiar, CEO and founder of CONDOR, said: “CONDOR is one of the most experienced and advanced global leaders in non-lethal technologies, and this partnership with EDGE, which has demonstrated its faith in the capabilities of our company, and in Brazil itself, further strengthens our commitment to building a safer future for all. The founders of CONDOR are fully confident that the ongoing commitment from both sides to pursue excellence in our sector through continuous innovation will enable us to realise this vision, and contribute to local economic growth in the State of Rio de Janeiro and in the UAE. Combining the efforts from our highly trained and qualified executives across the entire spectrum of technologies necessary for the proportional and gradual use of force, and the economies of scale provided by EDGE Group, we believe that this joining of our proven experience and dedication to quality, will benefit the entire defence and public security ecosystem in Brazil.”

Video Link: https://youtu.be/voeoB5zEfRU?si=E0SKqYwwtPF44DvJ

About EDGE

Launched in November 2019, the UAE’s EDGE is one of the world’s leading advanced technology groups, established to develop agile, bold and disruptive solutions for defence and beyond, and to be a catalyst for change and transformation. It is dedicated to bringing breakthrough innovations, products, and services to market with greater speed and efficiency, to position the UAE as a leading global hub for future industries, and to creating clear paths within the sector for the next generation of highly-skilled talent to thrive.

With a focus on the adoption of 4IR technologies, EDGE is driving the development of sovereign capabilities for global export and for the preservation of national security, working with front-line operators, international partners, and adopting advanced technologies such as autonomous capabilities, cyber-physical systems, advanced propulsion systems, robotics and smart materials. EDGE converges R&D, emerging technologies, digital transformation, and commercial market innovations with military capabilities to develop disruptive solutions tailored to the specific requirements of its customers. Headquartered in Abu Dhabi, capital of the UAE, EDGE consolidates more than 25 entities into five core clusters: Platforms & Systems, Missiles & Weapons, Space & Cyber Technologies, Trading & Mission Support, and Homeland Security.

For more information, visit edgegroup.ae

About CONDOR

Founded in 1985, and based in the State of Rio de Janeiro, CONDOR is one of Brazil’s largest exporters of defence related solutions and is a Global Leader in Non-Lethal Technologies (NLT). The company’s manufacturing facility covers one million square metres, and includes eighteen research laboratories and its own pioneering Institute of Science and Technology, dedicated to the research, innovation, and manufacture of NLT devices and systems.

CONDOR’s commitment to the Non-Lethal Concept is recognized in over 85 countries, where the company has the opportunity to not only sell Its technologies but also to promote de proportional and reasonable use of force by Defence Forces and Law Enforcement agents.

Source: AETOSWire

EDGE Becomes a Global Player in Non-Lethal Technologies by Acquiring Industry Leader CONDOR (Photo: AETOSWire)

SEOUL, South Korea (AP) — The world's leading artificial intelligence companies pledged at the start of a mini summit on AI to develop the technology safely, including pulling the plug if they can't rein in the most extreme risks.

World leaders are expected to hammer out further agreements on artificial intelligence as they gathered virtually Tuesday to discuss AI’s potential risks but also ways to promote its benefits and innovation.

The AI Seoul Summit is a low-key follow-up to November’s high-profile AI Safety Summit at Bletchley Park in the United Kingdom, where participating countries agreed to work together to contain the potentially “catastrophic” risks posed by breakneck advances in AI.

The two-day meeting -- co-hosted by the South Korean and U.K. governments -- also comes as major tech companies like Meta, OpenAI and Google roll out the latest versions of their AI models.

They're among 16 AI companies that made voluntary comittments to AI safety as the talks got underway, according to a British government announcement. The companies, which also include Amazon, Microsoft, France's Mistral AI, China's Zhipu.ai, and G42 of the United Arab Emirates, vowed to ensure safety of their most cutting edge AI models with promises of accountable governance and public transparency.

The pledge includes publishing safety frameworks setting out how they will measure risks of these models. In extreme cases where risks are severe and “intolerable," AI companies will have to hit the kill switch and stop developing or deploying their models and systems if they can't mitigate the risks.

Since the U.K. meeting last year, the AI industry has “increasingly focused on the most pressing concerns, including mis- and dis- information, data security, bias and keeping humans in the loop,” said Aiden Gomez CEO of Cohere, one of the AI companies that signed the pact. "It is essential that we continue to consider all possible risks, while prioritizing our efforts on those most likely to create problems if not properly addressed.”

On Tuesday evening, South Korean President Yoon Suk Yeol and British Prime Minister Rishi Sunak are to meet other world leaders, industry bosses and heads of international organizations for a virtual conference. The online summit will be followed by an in-person meeting of digital ministers, experts and others on Wednesday, according to organizers.

“It is just six months since world leaders met at Bletchley, but even in this short space of time, the landscape of AI has changed dramatically,” Yoon and Sunak said in a joint article published in South Korea’s JoongAng Ilbo newspaper and the U.K.’s online news site Monday. “The pace of change will only continue to accelerate, so our work must accelerate too.”

While the U.K. meeting centered on AI safety issues, the agenda for this week’s gathering was expanded to include “innovation and inclusivity,” Wang Yun-jong, a deputy director of national security in South Korea, told reporters Monday.

Wang said participants will subsequently “discuss not only the risks posed by AI but also its positive aspects and how it can contribute to humanity in a balanced manner."

The AI agreement will include the outcomes of discussions on safety, innovation and inclusivity, according to Park Sang-wook, senior presidential adviser for science and technology for President Yoon.

Last year's Bletchley meeting attracted world leaders and tech luminaries like Elon Musk and OpenAI CEO Sam Altman. The Seoul summit, serving as an interim meeting until another in-person event next year in France, drew less important representatives from government and tech companies.

China, which attended the Bletchley gathering, isn't joining the virtual summit though it will send a representative to Wednesday's in-person meeting, the South Korean presidential office said.

Governments around the world have been scrambling to formulate regulations for AI even as the technology makes rapid advances and is poised to transform many aspects of daily life, from education and the workplace to copyrights and privacy. There are concerns that advances in AI could take away jobs, trick people and spread disinformation.

This week's meeting is just one of a slew of efforts to draw up AI guardrails. The U.N. General Assembly has approved its first resolution on the safe use of AI systems, while the U.S. and China recent held their first high-level talks on AI and the European Union's world-first AI Act is set to take effect later this year.

__

Chan contributed to this report from London.

FILE - Britain's Prime Minister Rishi Sunk, center, speaks during a plenary session at the AI Safety Summit at Bletchley Park in Milton Keynes, England, on Nov. 2, 2023. South Korea is set to host a mini-summit this week on risks and regulation of artificial intelligence, following up on an inaugural AI safety meeting in Britain in 2023 that drew a diverse crowd of tech luminaries, researchers and officials. (AP Photo/Alastair Grant, Pool, File)

A screen shows an announcement of the AI Seoul Summit in Seoul, South Korea, Tuesday, May 21, 2024. World leaders are expected to adopt a new agreement on artificial intelligence when they gather virtually Tuesday to discuss AI’s potential risks but also ways to promote its benefits and innovation. (AP Photo/Ahn Young-joon)

A screen shows an announcement of the AI Seoul Summit in Seoul, South Korea, Tuesday, May 21, 2024. World leaders are expected to adopt a new agreement on artificial intelligence when they gather virtually Tuesday to discuss AI’s potential risks but also ways to promote its benefits and innovation. (AP Photo/Ahn Young-joon)