TORONTO, ON / ACCESSWIRE / May 30, 2023 / Today, Volatus Aerospace Corp. (TSXV:VOL)(OTCQB:VLTTF) ("Volatus" or "the Company") announces it has received a Transport Canada special authority to operate heavy crop spraying drones weighing over 25 kg anywhere in Canada. This special authority enables pilots who are trained through Volatus Aerospace's training program, operating in compliance with Transport Canada's conditions outlined in the approval, to operate throughout Canada.
"The current advanced drone regulations in Canada restrict the flight of a remotely piloted aircraft weighing over 25 kg within national airspace, this approval permits Volatus Aerospace to operate a heavy crop spraying drone, which has a maximum takeoff weight of 101 kg," explained Reno Matthews, Director of Regulatory Compliance for Volatus Aerospace. "This unlocks our ability to offer compliant drone crop spraying services across Canada for our precision agriculture clients."
Because of its ability to surgically target plants and provide unparalleled spray control, drone crop spraying has been increasingly adopted world-wide as a cost-efficient and greener method for maintaining crops.
"Using traditional methods, like crop dusting aircraft, is not only costly but imprecise as healthy plants are treated with unnecessary chemicals alongside diseased ones. Drones use less product and can focus only on the plants that need treatment, making it a more efficient, safer, and cost-effective way to maintain crops," added John Johnstone, Sales Director for Agriculture at Volatus Aerospace. "Consumers want less chemicals on their products and it is better for the environment, it is the future of agriculture."
The dispersal of some chemicals is pending Health Canada approval; however, non-pesticide type treatments are largely unrestricted today. Moreover, big Ag companies, such as Bayer, are taking steps to help farmers benefit from these new technologies.
According to FACT.MR, the global drone spraying services market is expected to reach a valuation of $213.7 million USD in 2023 and is predicted to accelerate at a combined annual growth rate of 24.7% to top market size of $ 1,942.9 million USD by 2023. In Canada, primary farming consists of more than 189,000 farms covering 62.2 million hectares.
About Volatus Aerospace:
Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout North America and growing into Latin America and globally. Volatus serves civil, public safety, and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, as well as R&D, design, and manufacturing. Through our subsidiary, Volatus Aviation, we are introducing green and innovative drone solutions to supplement and replace traditional aircraft and helicopters for long-linear inspections such as pipeline, energy, rail, and cargo services. Volatus is committed to carbon neutrality; the fostering of a safe, equitable and inclusive workplace; and responsible governance.
Forward-Looking Information
This news release contains statements that constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Often, but not always, forward-looking information and forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding: (i) the anticipated benefits of, and estimated revenue to be generated by, the master service agreement; (ii) the business plans and expectations of the Company; and (iii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial, and economic data and operating plans, strategies, or beliefs of management as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information and forward-looking statements reflect the Company's current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the anticipated benefits and revenues of the master service agreement to the Company; the commercialization of drone flights beyond visual line of sight and potential benefits to the Company; meeting the continued listing requirements of the TSXV; and including, but not limited to, those factors set forth in the Company's Annual Information Form under the section "Risk Factors". Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release
TSXV: VOL
Contact Details
Rob Walker
+1 204-955-2647
rob.walker@volatusaerospace.com
Company Website
https://volatusaerospace.com
SOURCE: Volatus Aerospace Corp.
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