- Draganfly (CSE:DPRO) is collaborating with Volatus Aerospace (TSXV:FLT) to capitalize on growing demand for precision data in the oil and gas sector
- The companies intend to integrate Volatus’ bathymetric sensor technology with Draganfly’s Heavy Lift Drone
- Draganfly is a drone technology provider specializing in unmanned aerial vehicle (UAV) solutions, software and AI systems
- Draganfly stock has given back 60.37 per cent year-over-year and 93.31 per cent since 2020
Draganfly (CSE:DPRO) is collaborating with Volatus Aerospace (TSXV:FLT) to capitalize on growing demand for precision data in the oil and gas sector. To this end, the companies will integrate Volatus’ bathymetric sensor technology with Draganfly’s Heavy Lift Drone.
New solutions will be designed to help oil and gas companies map underwater environments with greater efficiency and at reduced cost than competing technology.
The companies are aligning themselves to claim greater market share in an over US$100 billion global offshore oil and gas exploration market, which is expected to grow at a 5.02 per cent compound annual growth rate through 2030.
According to Thursday’s news release, Draganfly and Volatus expect the collaboration to “open new revenue streams while reinforcing the commitment of both organizations to creating value for shareholders.”
Under the agreement, Volatus will operate as an OEM-approved dealer of Draganfly’s multi-use UAV platforms, including the Heavy Lift, Commander 3XL and Apex drones.
Leadership insights
“We are excited to collaborate with Volatus Aerospace to extend the reach of our Heavy Lift Drone into new markets,” Cameron Chell, Draganfly’s chief executive officer (CEO), said in a statement. “This collaboration reinforces Draganfly’s focus on providing compliant, secure and innovative drone systems to meet the evolving needs of high-growth sectors like energy and logistics.”
“This collaboration underscores our shared commitment to driving innovation in the oil and gas exploration industry,” added Glen Lynch, CEO of Volatus Aerospace. “The collaboration brings together our expertise in UAV technology and Draganfly’s proven platforms, enabling us to offer cutting-edge solutions that address industry challenges and deliver exceptional value to our clients.”
About Volatus Aerospace
Volatus is a leader in innovative global aerial solutions for intelligence and cargo.
Volatus Aerospace stock (TSXV:FLT) is up by 2.56 per cent trading at C$0.20 per share as of 10:39 am ET. The stock has given back 33.33 per cent year-over-year and 77.01 per cent since 2020.
About Draganfly
Draganfly is a drone technology provider specializing in UAV solutions, software and AI systems.
Draganfly stock (CSE:DPRO) is up by 6.36 per cent trading at C$5.35 per share as of 11:00 am ET. The stock has given back 60.37 per cent year-over-year and 93.31 per cent since 2020.
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(Top photo of Draganfly’s Heavy Lift Drone: Draganfly)