TORONTO, Jan. 27, 2026 (GLOBE NEWSWIRE) — – Volatus Aerospace Inc. (TSX: FLT; OTCQB: TAKOF; Frankfurt: ABB.F) (“Volatus” or the “Company”), a next-generation aerospace and defence company delivering dual-use crewed and uncrewed systems, aerial intelligence, and mission-critical operational services to commercial and public-sector customers, today provided a strategic update on its previously announced partnership with Dufour Aerospace, highlighting continued progress toward the deployment of runway-independent cargo capabilities aligned with Arctic, defence, and commercial operating requirements.

Since announcing the partnership in February 2025, Volatus and Dufour Aerospace have advanced their collaboration from initial alignment toward capability development, with a focus on operational readiness. The partnership is centered on adapting Dufour’s hybrid eVTOL aircraft into a runway-independent, medium payload cargo capability suitable for austere, remote, and infrastructure-limited environments.

As part of this progress, a dedicated simulator has been installed at Volatus’ Toronto facility. The simulator is being used to train Volatus pilots and to support the development of a customer-facing training and evaluation platform. This capability is intended to enable operational concept development, mission rehearsal, and training in support of both government and commercial use cases, and to integrate the aircraft into Volatus’ broader operational capabilities offering.

The collaboration continues to prioritize three interrelated capability areas:

• Arctic and Remote Operations – Applying Volatus’ experience in cold-weather and northern operating environments to support platform adaptation, mission design, and operational concepts suitable for Arctic and other austere regions.
• Military and Government Logistics Support – Evaluating the platform’s applicability for defence and public-sector resupply missions where runway access is limited or unavailable, with an emphasis on logistics resilience and operational flexibility.
• Commercial Applications –Assessing commercial opportunities in sectors such as critical infrastructure support, remote industrial operations, and emergency response, where runway-independent logistics can complement existing aviation solutions.
  

“The focus of our work with Dufour Aerospace is on building operational capability, not promoting individual performance metrics,” said Glen Lynch, Chief Executive Officer of Volatus Aerospace. “Governments and commercial operators alike are increasingly looking for reliable, runway-independent cargo solutions that can operate in remote and challenging environments. This partnership allows us to apply our operational, regulatory, and training expertise to help shape such a capability.”

“Working with Volatus provides valuable operational insight as we continue to mature our hybrid eVTOL platform,” said Sascha Hardegger, Chief Executive Officer of Dufour Aerospace. “The partnership supports the development of practical, deployable logistics solutions that address both government and commercial requirements.”

Volatus emphasized that the partnership remains focused on evaluation, training, and capability development. Any future decisions regarding operational deployment, or manufacturing participation will be subject to further assessment, regulatory considerations, and applicable approvals.

About Volatus Aerospace Inc. 
Volatus Aerospace is a global provider of integrated aerial solutions for commercial and defence applications, leveraging both piloted and remotely piloted aircraft systems (RPAS). The Company serves industries including oil and gas, utilities, healthcare, and public safety. Volatus’ mission is to enhance operational efficiency, safety, and resilience through real-world, scalable aerial technologies.

About Dufour Aerospace: 
Dufour Aerospace is pioneering drones for critical missions. Based in Switzerland, Dufour develops and manufactures efficient and sustainable aircraft for cargo transportation, logistics, and public safety. The Aero2 drone features distributed electric propulsion and a hybrid module to meet today’s Advanced Air Mobility and medium-sized drone market requirements.

• FY 2024 total revenue of $27,147,414, with 16% year over year growth in services and technology revenue
• Achieved record blended gross margin of 38% in Q4 2024
• Achieved cost synergies from merger of approximately $3,770,000 in 4 months
• The active Sales pipeline totaling greater than $600M
• Received an agreement to Convert $2,646,000 of debt into equity, strengthening balance sheet
• Volatus will host a webinar and live Q&A on Friday May 2, 2025, at 8 am ET (see registration link below).

TORONTO, April 30, 2025 (GLOBE NEWSWIRE) — Volatus Aerospace Inc. (TSXV:FLT) (OTCQB:TAKOF) (Frankfurt:A3DP5Y/ABBA.F) (“Volatus” or “the Company”), a leader in aerial solutions, is pleased to announce its financial results for the twelve-month period and fourth quarter ended Dec 31, 2024 (“FY 2024” and “Q4 2024”, respectively). All dollar figures are stated in Canadian dollars, unless otherwise indicated.

In FY 2024, the Company generated revenue of $27,147,414, while Q4 2024 contributed $6,783,176. In Q4 2024, the Company’s blended gross margin was a record 38% compared to Q3 2024 of 27%, mainly due to a larger mix of higher margin services and technology revenue. In Q4 2024, the Company also achieved near-breakeven normalized EBITDA of $(206,900), compared to $(3,344,056) for the same comparative period in 2023, adjusting for certain expenses related to the merger of equals transaction with Drone Delivery Canada that was completed in August 2024. The $3,137,156 improvement in normalized EBITDA is directly related to the Company’s early focus and success of integration efforts and realization of various cost synergies.

FY 2024 Operational Highlights:

• Completed the acquisitions of UAVHub & The Drone Mentor
• Completed its merger of equals transaction between Drone Delivery Canada and Volatus Aerospace Corp.
• Ranked second fastest growth companies in Canada by the Globe and Mail
• Closed a $15M financing backed by Investissement Québec (IQ) and Export Development Canada (EDC)
• Expanded global ecosystem to markets such as UK, India, Norway
• Announced a new collaboration to enhance Beyond Visual Line of Sight (BVLOS) capabilities for Remotely Piloted Aircraft Systems (RPAS) through the integration of Kongsberg’s IRIS Terminal into Volatus’ state-of-the-art Operations Control Center (OCC)
• Closed a $2,767,240 LIFE brokered private placement
• Appointed Omar Mourad to its Board of Directors

Q4 2024 and FY 2024 Financial Highlights:

• Total FY 2024 revenue was $27,147,414 compared to $34,872,815 in FY 2023, the drop mainly due to a direct focus by management on technology and services that are less working capital intensive and generate higher margins. Service and technology revenue increased by 16% from $16,573,827 in FY 2023 to $19,256,498 in FY 2024.
• Gross profit for FY 2024 was $9,556,299 compared to $11,135,842 in FY 2023. As a result of a focus on higher margin services and technology, overall gross margin increased from 32% in FY 2023 to 35% in FY 2024. Gross profit for Q4 2024 totaled $2,573,599, increasing gross margin to 38%.
• Available cash on hand as at Dec 31, 2024, was $1,558,909 compared to $1,256,743 at Dec 31, 2023.
• Comprehensive loss was ($2,744,568) in Q4 2024 compared to ($2,775,864) in Q4 2023. On a normalized basis, SG&A expenses were reduced by approximately $421,000 as a result of various cost synergies realized. Costs savings were offset by increased interest charges incurred in 2024.
• During the first 100 days following the merger between Drone Delivery Canada and Volatus Aerospace Corp, the Company has realized annualized cost synergies exceeding $3,770,000 Normalized EBITDA for Q4 2024 was ($206,900). This resulted from our cost optimization improvements and focus on near-term profitability.

Subsequent to FY 2024 Operational Highlights:

• Renewed and expanded U.S. power utility inspection program
• Released new Surveillance as a Service solution to market
• Announced a partnership with DroneUp LLC to support the acceleration of drone deliveries in the United .States.
• Surpasses 75,000 flight hours in pipeline integrity monitoring
• Announced a partnership with Dufour Aerospace AG to support remote cargo deliveries
• Announced a partnership with Ondas Holdings to enhance border surveillance offerrings
• Announced a partnership with Rigi Technologies S.A. to add autonomous drone delivery technologies in its portfolio of solutions
• Obtained Canada-wide approval from Transport Canada to conduct long-distance, remotely piloted beyond visual line of sight (BVLOS) drone operations at night in atypical airspace
• Announced a shares-for-debt transaction with respect to $2,646,000 of unsecured convertible debentures
• Obtained clearance for high-value RPAS deployments in the oil & gas sector

“During Q4 2024, Volatus has been focused on streamlining operations post-closing of the merger between Drone Delivery Canada and Volatus Aerospace Corp.,” said Glen Lynch, CEO of Volatus Aerospace. “As we integrate our organization, we look forward to enhancing our operational capabilities to serve large enterprise and government customers while driving towards profitability.”

About Volatus Aerospace:

Volatus Aerospace is a leader in innovative global aerial solutions for intelligence and cargo. With a strong foundation of over 100 years of combined institutional knowledge in aviation, Volatus provides comprehensive solutions using both piloted and remotely piloted aircraft systems (RPAS). We serve industries such as oil and gas, utilities, healthcare, and public safety. Our mission is to enhance operational efficiency, safety, and sustainability through cutting-edge, real-world solutions. 

Securing One-Year Extension to Standing Offer and Call-up Authority for Unmanned Aerial Surveillance Services with the Canadian Government

MONTREAL, April 14, 2025 (GLOBE NEWSWIRE) — Volatus Aerospace Inc. (TSXV: FLT) (OTCQX: TAKOF) (Frankfurt: A2JEQU) (“Volatus” or “the Company”), a leader in aerial solutions, proudly announces a one-year extension, the maximum allowable, to its Public Works and Government Services Canada (PWGSC) standing offer. Among the responsibilities of the PWGSC is to support federal departments and agencies in their daily operations as their central purchasing agent. This extension allows Volatus to continue providing UAV services to any department of the Canadian government until March 31, 2026. This announcement comes on the heels of the newly published Regulations Amending the Canadian Aviation Regulations (RPAS – Beyond Visual Line-of-Sight (BVLOS) and Other Operations), marking a significant milestone after years of industry advocacy, collaboration, and persistence. Additional extensions may be granted in subsequent years.

Initially added to Canada’s National Master Standing Offer (NMSO) in November 2020 as the first UAV service provider, Volatus has set a precedent in the industry for its comprehensive range of services and coast-to-coast network of pilots. Qualified to handle all five streams of service identified in the NMSO—Media, Agriculture, Forestry and Fire Fighting, Infrastructure and Real Property, and Security and Emergency Response—Volatus is uniquely positioned to leverage the new BVLOS regulations. These regulations, set to take effect on November 4, 2025, enable routine beyond visual line-of-sight, extended visual line-of-sight, and sheltered operations. In addition, services provided will be further enhanced by Volatus’ Canada-wide nighttime BVLOS operation authority, announced on March 26, which significantly enhances the company’s operational flexibility. Combined, Volatus’ capabilities and breadth of services remain unmatched in the industry.

“The continuation of the PWGSC enables us to quickly and efficiently support the demand for security and infrastructure investment of the Canadian Government as we work through these turbulent times,” said Rob Walker, Chief Commercial Officer for Volatus. “Coupled with the new regulatory framework, Volatus will be able to expand the potential of commercially available drone technology enabling any department in the Canadian Government to capitalize on the benefits of long-range intelligence and cargo delivery RPAS operations. This is especially poignant with the growing demand for border and national security in Canada.”

The newly enacted BVLOS regulations, officially published in Canada Gazette Part II, represent a transformative shift in the UAV industry, facilitating more advanced and extensive uses of drone technology across various sectors. With these regulations in place, Volatus is well-equipped to expand its operations, enhance service delivery, and continue its tradition of excellence and innovation in the UAV services industry.

About Volatus:

Volatus is a leader in innovative global aerial solutions for intelligence and cargo. With a strong foundation of over 100 years of combined institutional knowledge in aviation, Volatus provides comprehensive solutions using both piloted and remotely piloted aircraft systems (RPAS). We serve industries such as oil and gas, utilities, healthcare, and public safety. Our mission is to enhance operational efficiency, safety, and sustainability through cutting-edge, real-world solutions.

Adding 400 km range drone with 40kg payload capacity to its portfolio of drone technologies

TORONTO, ON / ACCESS Newswire / February 4, 2025 / Volatus Aerospace Inc. (TSXV:FLT)(OTCQX:TAKOF)(Frankfurt:A2JEQU) (“Volatus” or “the Company”) proudly unveils its next step toward providing a new, unmanned dimension to its clients in the cargo and aerial services markets by joining forces with Dufour Aerospace. Dufour is a Swiss-based designer and manufacturer of long-range drones. Today, the parties announced a strategic partnership. This collaboration will introduce and commercialize Dufour’s long-endurance, heavy-lift Aero2 hybrid-electric drone aircraft for operations across diverse environments globally.

By its unique tilt-wing design, the Aero2 can take off and land vertically like a helicopter but flies as fast and energy-efficient as an airplane. Designed for numerous applications, the Aero2 can transport up to 40 kg (88 lbs) of payload over 400 km (249 miles) in standard configuration making it the perfect tool for accessing remote locations in regions like Canada and Africa, for operations such as delivering time-sensitive medical supplies and conducting aerial surveillance and intelligence operations. Its ability to perform vertical takeoffs and transition to high-speed cruise flight introduces flexibility and efficiency to Volatus’ services while enabling the Company to operate at the highest safety standards at low operating costs.

“Recently, we announced operational enhancements gained in partnering with DroneUp. Building on this momentum, the introduction of Dufour’s Aero2 hybrid-electric VTOL aircraft into our expanding fleet allows us to significantly expand our operational scope and commercial focus,” said Glen Lynch, CEO of Volatus Aerospace. “My confidence in the technology not only comes from having seen the Aero2 in action but, even more importantly, having met the brilliant team of professionals behind the technology. Adding the Aero2 to a growing fleet of larger, more capable drones extends our capabilities and accelerates the commercialization of our Operations Control Center and remote operations capabilities.”

“We are thrilled to partner with Volatus Aerospace, a collaboration that aligns Dufour’s advanced VTOL technology with Volatus’ extensive operational expertise and global reach. This strategic partnership enables us to harness Volatus’ strong market presence to bring our innovative Aero2 aircraft to more challenging and underserved areas worldwide, particularly remote communities.” stated Sascha Hardegger, CEO of Dufour Aerospace. “By combining our efforts, we’re not only expanding our operational horizons but also enhancing our collective ability to deliver efficient, sustainable, and critical aerial solutions on a global scale.”

Discover the innovation behind Dufour’s Aero2 hybrid-electric VTOL. Watch this video to see it in action:

About Volatus Aerospace:
Volatus Aerospace is a leader in innovative global aerial solutions for intelligence and cargo. With a strong foundation of over 100 years of combined institutional knowledge in aviation, Volatus provides comprehensive solutions using both piloted and remotely piloted aircraft systems (RPAS). We serve industries such as oil and gas, utilities, healthcare, and public safety. Our mission is to enhance operational efficiency, safety, and sustainability through cutting-edge, real-world solutions.

About Dufour Aerospace:
Dufour Aerospace is pioneering drones for critical missions. Based in Switzerland, Dufour develops and manufactures efficient and sustainable aircraft for cargo transportation, logistics, and public safety. The Aero2 drone features distributed electric propulsion and a hybrid module to meet today’s Advanced Air Mobility and medium-sized drone market requirements.

TORONTO, ON / ACCESSWIRE / January 13, 2025 / Volatus Aerospace Inc. (TSXV:FLT.V)(OTCQB:TAKOF)(Frankfurt:A2JEQU) (“Volatus” or “the Company”) is proud to announce the launch of its groundbreaking “Surveillance as a Service” solution, delivering unparalleled scalability and rapid deployment capabilities. Monitored from Volatus’ state-of-the-art Operations Control Centre (OCC), this flexible, secure and multi-modal surveillance offering empowers clients with faster response times and actionable intelligence.

Leveraging cutting-edge drone technologies, including remotely piloted aircraft systems (RPAS), nested autonomous drones, fixed-wing aircraft, helicopters, and ground-based sensors, Volatus captures critical intelligence 24/7 with advanced electro-optical/infrared (EO/IR) sensors. Integrated seamlessly into Kongsberg Geospatial’s IRIS Terminal, this data provides real-time situational awareness and decision support, monitored comprehensively through Volatus’ OCC.

With over 10,000 RPAS flights conducted from the OCC and a robust portfolio of air operator certificates, Canadian Transportation Agency (CTA) licenses, and dangerous goods handling authorizations, Volatus has established itself as a trusted global operator. Supported by its Transport Canada-Approved Maintenance Organization (AMO), OEM-certified service centres, and 14 drone-related patents, the Company’s reputation for safety, reliability and regulatory compliance is unparalleled.

“Our ability to integrate multiple surveillance modalities into a single, cohesive solution is a game-changer for our clients,” said Volatus CEO, Glen Lynch. “Whether it’s border security, infrastructure monitoring, environmental protection or emergency response, we deliver secure surveillance intelligence without the high cost and complexity of infrastructure, training, equipment or ownership.”

The global drone surveillance market is projected to grow to USD 612.09 billion by 2032, at a compound annual growth rate (CAGR) of 18% (Source: Reports and Data). This growth is driven by increasing demand for applications such as border security, infrastructure monitoring, and environmental protection. Volatus’ ‘Surveillance as a Service’enables the Company to go after this expanding market by delivering clients cost-effective, scalable solutions that eliminate the complexity of traditional surveillance infrastructure.

The ‘Surveillance as a Service’ solution is available on a global basis to meet the evolving demands of industries and government agencies. With its innovative approach, Volatus’ turnkey solution is committed to enhancing safety, security and operational efficiency through expertise, advanced technology and scalable solutions.

About Volatus Aerospace

Volatus Aerospace is a leader in innovative global aerial solutions for intelligence and cargo. With a strong foundation of over 100 years of combined institutional knowledge in aviation, Volatus provides comprehensive solutions using both piloted and remotely piloted aircraft systems (RPAS). We serve industries such as oil and gas, utilities, healthcare, and public safety. Our mission is to enhance operational efficiency, safety, and sustainability through cutting-edge, real-world solutions.

TORONTO, ON / ACCESSWIRE / December 11, 2024 / Volatus Aerospace Inc. (TSXV:FLT)(OTCQX:TAKOF)(FSE:ABBA) is pleased to announce the integration of key assets and capabilities from Air Data Systems (ADS), based in the United Kingdom, marking a strategic expansion of its global aerial solutions ecosystem. This collaborative arrangement strengthens Volatus’ position as a leader in aerial intelligence and logistics by opening doors to new opportunities and partnerships in critical industries.

ADS specializes in streamlining large-scale and complex surveys and data acquisition projects for industrial applications such as asset management, inspection services, oil & gas, utilities, and environmental services.

The transaction, structured with a success-fee model tied to future contract outcomes, aligns the interests of both organizations and highlights the significant potential of this collaboration. As part of this agreement, Volatus has acquired the ADS brand, website, and domain, along with a robust £5 million sales opportunity pipeline.

To further enhance this partnership, Mark Currass, former Managing Director of ADS, has joined Volatus Aerospace as Executive Consultant, Global Business Development. With decades of expertise in the UAS sector and a proven track record of delivering results, Mark will spearhead growth initiatives and leverage the combined capabilities of Volatus and ADS to unlock new markets and drive innovation.

“The integration of Air Data Systems into the Volatus ecosystem represents a powerful joining of forces,” said Glen Lynch, CEO of Volatus Aerospace. “Mark’s leadership and expertise, combined with the opportunities this partnership brings, will enable us to expand our global reach, strengthen our industry-leading capabilities, and deliver unmatched value to our clients in sectors such as oil and gas, power utilities, public safety, and agriculture.”

This partnership also reinforces Volatus’ extensive capabilities, including expertise in beyond visual line of sight (BVLOS) operations, advanced thermography solutions, and geomatics services. With over 10,000 BVLOS flights completed and an industry-leading operations control center, Volatus continues to set benchmarks for innovation and operational excellence.

About Volatus Aerospace
Volatus Aerospace is a leader in innovative global aerial solutions for intelligence and cargo. With deep technological and subject matter expertise and over 100 years’ worth of combined institutional knowledge in aviation, Volatus provides meaningful aerial solutions for end users across various industries using both piloted and remotely piloted aircraft systems (RPAS or drones). We are committed to enhancing operational efficiency, safety, and sustainability through innovative, real-world aerial solutions.

About Air Data Systems
Air Data Systems specializes in innovative Unmanned Aerial System (UAS) solutions, providing expert services across multiple industries. ADS brings decades of experience in technology, engineering, and regulatory compliance, now seamlessly integrated into Volatus Aerospace’s global ecosystem.

TORONTO, ON / ACCESSWIRE / December 3, 2024 / Volatus Aerospace Inc. (TSXV:FLT.V)(OTCQB:TAKOF)(Frankfurt:A3DP5Y) proudly announces that its Science Experiential Aerial Research (SEAR) Program has been awarded the prestigious Energy Globe National Award in the Youth category for Canada. This accolade underscores Volatus’ dedication to environmental innovation and sustainability.

The Energy Globe Award, initiated in 1999 by Austrian energy pioneer Wolfgang Neumann, stands as one of the world’s most esteemed environmental recognitions. It celebrates innovative and sustainable projects that tackle environmental challenges across five categories: Earth, Fire, Water, Air, and Youth. The award aims to present successful environmental solutions to a global audience, showcasing that practical solutions to many ecological issues are already in place.

In total, around 2000 projects from 141 countries entered this year’s competition, highlighting the Energy Globe Award as the most significant environmental award globally today.

The SEAR Program, spearheaded by Matthew Johnson, Vice President, Education Programs at Volatus Aerospace, offers high school students practical experience in machine learning, aerial intelligence collection with drones, and other critical science disciplines. The curriculum, focused on addressing community-defined issues like environmental monitoring, aligns with national and state-defined science and math learning outcomes. The program has seen successful implementation in British Columbia, Alberta, Saskatchewan, Manitoba, and has recently expanded to the United States with the launch of “The Litter Project” in Florida.

“Receiving the Energy Globe National Award is a testament to our team’s unwavering commitment to environmental stewardship and innovation,” expressed Glen Lynch, CEO of Volatus Aerospace. “We are deeply honored to receive such prestigious recognition and remain dedicated to developing solutions that contribute to a sustainable future. We are incredibly proud of Matt’s achievements in empowering students to tackle environmental challenges within their communities.”

As a national winner, Volatus’ SEAR Program will now compete in the Energy Globe World Award, bringing international attention to the company’s environmental initiatives.

For more information about the Energy Globe Award, please visit www.energyglobe.info.

About Volatus Aerospace:

Volatus Aerospace is a leader in innovative global aerial solutions for intelligence and cargo. With a strong foundation of over 100 years of combined institutional knowledge in aviation, Volatus provides comprehensive solutions using both piloted and remotely piloted aircraft systems (RPAS). We serve industries such as oil and gas, utilities, healthcare, and public safety. Our mission is to enhance operational efficiency, safety, and sustainability through cutting-edge, real-world solutions.

Explore our services and connect with us at http://www.volatusaerospace.com.

TORONTO, ON / ACCESSWIRE / November 29, 2024 / Volatus Aerospace Corp. (TSXV:FLT)(OTCQB:TAKOF) (Frankfurt:A3DP5Y/ABBA.F)(“Volatus” or “the Company”), a leader in aerial solutions, is pleased to announce its financial results for the third quarter ended Sept 30, 2024. All dollar figures are stated in Canadian dollars, unless otherwise indicated.

The Company generated revenues of $20,364,238 for nine months period ended Sept 30, 2024, and $6,618,504 for the three months ended Sept 30, 2024. For the three-month period, the Company’s blended gross margin was 34%, and the Company generated cash flow from operating activities of $79,634.

Q3 2024 Performance Highlights:

• Service revenue increased by 44% from $3.90M in Q1 2024 to $5.5M in Q3 2024. Services revenue increased by 17% from Q2 2024.
• Gross profit was $2.25M. In Q3 2024, the Company successfully maintained its gross margin percentage of 34%, which was a direct result of our strategic shift toward higher efficiency operations and an optimized allocation of capital that led to 84% of revenue driven by long-term services.
• Available cash on hand on Sept 30, 2024, was $679,437. Subsequently to quarter end, the Company completed the closing of $15M financing backed by Investissement Québec and Export Development Canada, and in early November the Company closed additional $2.77M equity financing. The temporary limitation in growth working capital led to a continued impact in equipment revenue in the current quarter. The Company expects to regain equipment sales starting Q424.
• The comprehensive loss of ($5,491,822) in Q3 2024 compared to ($1,920,403) Q3 2023 was due to higher depreciation expenses, interest charges, and $1.5M one-time merger transaction related advisory fees. Excluding external partner cost and depreciation, the SG&A expenses reduced by $592K. This showcases our efforts to reduce overhead cost and achieve near-term profitability.
• The Company has realized annualized cost synergies of approximately $2.1M within 60 days of the merger with Volatus Aerospace Corp. . This Company expects the synergies to be over $3M within the next 2 quarters.
• Launched operations in Europe to scale BVLOS operations and enhance the capabilities of our OCC (Operations Control Centre).
• Received Transport Canada approval for BVLOS Flights Without Visual Observers for Its DroneCare Commercial Project.
• Achieved historic Milestone with its Edmonton project by launching phase 2 of the project and expanding cargo services from YEG to Leduc.
• Continued expansion in oil and gas sector in the U.S. by leveraging advanced technological applications such as optical gas inspections and magnetometry.
• Continued expansion in the UK with the strategic acquisition of UAV Hub and Drone Mentor.
• Executed on work for the inspection of 11,000 structures in the US utility sector.
• Expanded LiDAR services in Canada and the U.S.
• Successfully closed merger of equals with Volatus Aerospace Corp. and completed operational integration to unleash meaningful cost synergies.
• Ranked second fastest growth companies in Canada by the Globe and Mail.
• Secured $15M financing from two major Canadian institutional investors – Investissement Québec and Export Development Canada to expand its operations and accelerate the development of its aerial solutions across key core industries such as oil and gas, energy utilities, public safety, and infrastructure
• Successfully completed 2.250 acres solar farm inspection, covering over 400MW of solar power capacity and 762,750 solar panels across 16 solar fields and 1 large substation .
• Announced a new collaboration to enhance Beyond Visual Line of Sight (BVLOS) capabilities for Remotely Piloted Aircraft Systems (RPAS) through the integration of Kongsberg’s IRIS Terminal into Volatus’ state-of-the-art Operations Control Center (OCC)
• Closed its previously announced commercially reasonable best efforts private placement and secured $2.77M in financing

Q3 2024 Operational Highlights

Subsequent to Q3 2024 Operational Highlights

“During Q3 2024, Volatus has been focused on closing the transaction between Drone Delivery Canada and Volatus Aerospace Corp., positioning the Company for growth, and for the future of BVLOS” said Glen Lynch, CEO of Volatus Aerospace. “As we integrate our organization, we look forward to expanding this further, adding remote operational capabilities and cargo delivery to our ever-expanding portfolio.”

Outlook for Q4 2024 and 2025

The Company expects Q424 to be a strong quarter backed by growth and working capital. We expect better Gross Margin performance and fulfillment of larger contracts with material improvement in our Adj EBITDA margins.

The drone services and technology sector are experiencing explosive growth as organizations in oil and gas, utility, public safety, and hospitals realize significant cost and time savings. This shift presents a significant opportunity for Volatus, as demand for its high-margin services and solutions continues to grow. Volatus remains a clear leader in this field, with expertise in delivering comprehensive, high-value services, Volatus is well-positioned to capitalize well into 2025.Volatus has a proven track record of delivering strong results in the fourth quarter of the fiscal year, and this trend is expected to continue as we have closed our financings and capitalized the balance sheet. With the closing of the merger of equals behind us, integration well under way, and long-term institutional partners secured, Volatus is now positioned to offer its customers a wide array of products and services across the globe.

Additional Corporate Update

Volatus is pleased to announce that it has acquired additional shares in Synergy Aviation Ltd, increasing its holdings to 58.47% of outstanding shares Under the terms of the agreement with one minority shareholder, the purchase price of minority shares representing 7.47% of outstanding shares is C$297,977.00.  This amount will be paid in the form of newly issued common shares of Volatus Aerospace Inc. The shares will be issued at a value based on the 30-day volume-weighted average price (VWAP) of Volatus’ shares as of the date prior to closing, with a minimum floor price of $0.115 per share. The maximum total number of shares to be issued will be 2,591,104.

The transaction is expected to close on or before 30th, November 2024 and is subject to final approval by the TSX Venture Exchange. 

About Volatus Aerospace:

Volatus Aerospace is a leader in innovative global aerial solutions for intelligence and cargo. With a strong foundation of over 100 years of combined institutional knowledge in aviation, Volatus provides comprehensive solutions using both piloted and remotely piloted aircraft systems (RPAS). We serve industries such as oil and gas, utilities, healthcare, and public safety. Our mission is to enhance operational efficiency, safety, and sustainability through cutting-edge, real-world solutions.

TORONTO, ON / ACCESSWIRE / November 18, 2024 / Volatus Aerospace Inc. (TSXV:FLT.V)(OTCQX:TAKOF)(Frankfurt:ABB.F) (the “Company” or “Volatus”) is pleased to announce that it has been awarded a grant of up to $75,000 from the Downsview Aerospace Innovation and Research (DAIR) Green Fund to develop and integrate an on-board “detect and avoid” (DAA) system to deconflict drones from other aircraft, enabling a major step forward in safe and scalable beyond visual line of sight (BVLOS) operations.

This funding, supported by the Government of Canada through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), aligns with Volatus’ mission to drive sustainable growth in the aerospace sector. Building on the recent merger with Drone Delivery Canada, Volatus’ engineering focus has shifted toward technologies with immediate commercial potential. The DAA system, combined with Volatus’ recent installation of Kongsberg Geospatial’s IRIS Terminal in its Operations Control Center for comprehensive airspace awareness, raises the bar for drone operations, accelerating the path to commercial scalability by providing a robust foundation for BVLOS capabilities.

The DAA solution will minimize the need for ground-based human intervention, allowing for more complex, extended routes while maintaining stringent safety standards. By enhancing airspace awareness through the IRIS Terminal, Volatus is rapidly unlocking new operational possibilities and expanding commercial applications of its drone fleet.

“On-board detect and avoid technology, together with the IRIS Terminal, represents a transformative leap in airspace awareness, essential for the commercialization of large-scale drone operations,” said Glen Lynch, CEO of Volatus Aerospace. “The DAIR Green Fund empowers us to advance our DAA system, paving the way for safer, more complex BVLOS missions. This initiative is a perfect example of Volatus’ commitment to sustainable, scalable solutions for the future of aerial operations.”

“DAIR is pleased to be supporting Volatus through the DAIR Green Fund as they develop and integrate an on-board “detect and avoid” (DAA) system to deconflict drones from other aircraft,” said Phil Arthurs, Executive Director of DAIR. “This technology is important in progressing beyond visual-line-of-sight (BVLOS) drone operation, and we look forward to the continued progress of this collaborative project.”

“Businesses and organizations and the entrepreneurs and workers behind them are an integral part of what keeps Canada’s economy strong,” said the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario. “The Government of Canada is pleased to support organizations like DAIR as they help businesses, like Volatus Aerospace, grow and create new scalable and sustainable technologies and innovations for the aerospace industry. These efforts will help strengthen our aerospace sector while boosting our economy and creating good jobs.”

About the Downsview Aerospace Innovation & Research

Downsview Aerospace Innovation & Research (DAIR) is a not-for-profit whose mission is to revolutionize the collaboration environment by catalyzing innovation in aerospace and beyond. DAIR supports its members and network by offering access to state-of-the-art equipment and infrastructure to accelerate leading-edge and sustainable research and technology adoption; creating training solutions for the business and technology challenges of today and tomorrow; providing a platform for industry, academia, and government synergies; fostering and advancing R&D partnerships; and bringing awareness to the aerospace industry locally, nationally, and globally. To learn more about DAIR please visit www.dairhub.com.

About FedDev Ontario

For 15 years, the Government of Canada, through FedDev Ontario , has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada’s most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving productivity, growing revenues, creating jobs, and in the economic advancement of communities across the region. Learn more about the impacts the Agency is having in southern Ontario by exploring our investment profiles, our Southern Ontario Spotlight, and FedDev Ontario’s X , Facebook, Instagram and LinkedIn.

About Volatus Aerospace:

Volatus Aerospace is a leader in innovative global aerial solutions for intelligence and cargo. With a strong foundation of over 100 years of combined institutional knowledge in aviation, Volatus provides comprehensive solutions using both piloted and remotely piloted aircraft systems (RPAS). We serve industries such as oil and gas, utilities, healthcare, and public safety. Our mission is to enhance operational efficiency, safety, and sustainability through cutting-edge, real-world solutions.

TORONTO, ON / ACCESSWIRE / November 5, 2024 / Volatus Aerospace Inc. (TSXV:FLT.V)(OTCQX:TAKOF)(Frankfurt:A3DP5Y/ABBA.F) (“Volatus” or the “Company”), a leader in advanced aerial solutions, and Kongsberg Geospatial (“Kongsberg”), a recognized innovator in geospatial software and situational awareness solutions, are pleased to announce a new collaboration to enhance Beyond Visual Line of Sight (BVLOS) capabilities for Remotely Piloted Aircraft Systems (RPAS) through the integration of Kongsberg’s IRIS Terminal into Volatus’ state-of-the-art Operations Control Center (OCC).

Under this commercial agreement, Volatus will use its OCC to test, validate, and demonstrate Kongsberg’s IRIS Terminal software, designed to provide operators with real-time airspace awareness, showcasing IRIS Terminal’s functionality to potential clients, providing comprehensive demonstrations to display real-time situational awareness and control over BVLOS operations. Additionally, the companies will work closely to secure regulatory approvals across multiple jurisdictions, expanding both companies’ reach and compliance capabilities in the BVLOS sector.

“Our collaboration with Kongsberg Geospatial represents a strategic move to advance and commercialize BVLOS operations across diverse industries,” said Glen Lynch, CEO of Volatus Aerospace. “Maintaining airspace awareness to avoid conflicts with other aircraft is essential for ensuring safe beyond visual line of sight (BVLOS) operations. By integrating IRIS Terminal into our Operations Control Center, we are not only enhancing our BVLOS capabilities in terms of safety, reliability, and scalability but are also positioning ourselves to drive new revenue opportunities by offering robust solutions for clients ready to unlock the full potential of RPAS.”

This collaboration will allow potential end users to witness live demonstrations of Kongsberg’s IRIS Terminal within the Volatus OCC. The IRIS Terminal integration will serve as third-party proof-of-concept, supporting both companies in securing long-term BVLOS contracts as industries increasingly recognize the value of autonomous RPAS operations across sectors like public safety, energy, and infrastructure.

“Partnering with Volatus Aerospace enables us to validate our technology in real-world scenarios and connect with customers ready for advanced RPAS solutions,” said Jordan Freed, CEO of Kongsberg Geospatial. “With Volatus’ operational excellence, we can shape the future of BVLOS operations, addressing the growing demand for safe, efficient, and compliant RPAS solutions across industries.”

This partnership leverages Kongsberg’s advanced airspace visualization technology alongside Volatus’ BVLOS (Beyond Visual Line of Sight) operational expertise. As Kongsberg adds new features, introduces new software, and integrates new sensors, they will leverage the operations control center and its operators / pilots to provide regular real-world feedback to accelerate the development process. These solutions enable drones to operate over longer distances without the pilot’s direct line of sight, opening new possibilities for industries such as public safety, energy utilities, and infrastructure management.

This collaboration is expected to open significant revenue-generating opportunities as Volatus and Kongsberg work together to commercialize BVLOS solutions that meet stringent safety and regulatory requirements, positioning both companies at the forefront of a rapidly expanding market.

About Volatus Aerospace Inc.
Volatus Aerospace is a leader in innovative global aerial solutions for intelligence and cargo. With a strong foundation of over 100 years of combined institutional knowledge in aviation, Volatus provides comprehensive solutions using both piloted and remotely piloted aircraft systems (RPAS). We serve industries such as oil and gas, utilities, infrastructure, and cargo delivery. Our mission is to enhance operational efficiency, safety, and sustainability through cutting-edge, real-world solutions.

Explore our services and connect with us at http://www.volatusaerospace.com

About Kongsberg Geospatial
Kongsberg Geospatial, based in Ottawa, Canada, is a trusted provider of mission-critical software for real-time situational awareness, trusted by defense and aerospace industries globally. Its IRIS Terminal solution enables safe and effective BVLOS operations by delivering high-performance airspace visualization for complex and dynamic environments.