The Danish government has not ended cooperation with Ukrainian missile and drone manufacturer Fire Point, despite a recent statement by the company’s management. Last week, Fire Point co-founder Denys Shtilerman said Denmark had frozen an earlier contract to build a fuel facility in the country after reports emerged about Fire Point being under the influence of Ukrainian-Israeli businessman Tymur Mindich, who has been charged with fraud in Ukraine’s energy sector. Denmark’s Ministry of Business and Industry rejected the claim.
In response to a request from The Insider, the ministry said Danish authorities had not suspended contracts with the company “either now or previously.”
“The Danish authorities have not paused the work, either now or previously. Cooperation with the company on establishing production in Denmark through Fire Point’s Danish subsidiary is continuing. The Danish authorities are in ongoing contact with the Ukrainian authorities and are following the case closely,” the ministry representative stated.
The Ukrainian missile and drone manufacturer announced plans to build a plant in Denmark this past March. The facility will produce not only fuel but also missile bodies and engine components. The former production line is scheduled to be commissioned in 2026, while the latter will follow next year.
A source in Denmark’s Defense Ministry also expressed doubts that such a project could be frozen, noting that “the state has invested so much, both in terms of funding and support.”
Fire Point’s CEO earlier told the Financial Times that Copenhagen had suspended the contract to build the facility. He said the decision was prompted by media reports publishing transcripts of conversations involving Mindich, who is under investigation in Ukraine over alleged procurement fraud at Energoatom, the operator of Ukraine’s nuclear power plants.
Media outlets have described Mindich as one of Fire Point’s potential beneficiaries – an allegation the businessman denied. Among the conversations published in late April was an exchange between Mindich and former Defense Minister Rustem Umerov dated July 8, 2025, in which Mindich discussed selling a stake in a company – which indirect evidence suggests could be Fire Point – to unnamed investors.
Fire Point co-owner Denys Shtylerman said at an investigative commission hearing in May that Mindich had sought to acquire 50% of the missile and drone manufacturer. According to Shtylerman, the talks lasted more than a year, until August 2025, but were unsuccessful.
With additional reporting by Morgane Fert Malka.
