Volatus Aerospace Completes Large Drone Solar Farm Inspection Contract

767,750 solar panels and 1 large substation, spanning across 2,250 acres Inspected

TORONTO, ON / ACCESSWIRE / October 28, 2024 / Volatus Aerospace Inc. (TSXV:FLTV)(OTCQX:TAKOF)(Frankfurt:A3DP5Y/ABBA.F) is pleased to announce the successful completion of a large drone solar farm inspection project. The inspection spanned 2,250 acres, covering over 400MW of solar power capacity and 762,750 solar panels across 16 solar fields and 1 large substation. This milestone highlights Volatus' expertise in providing innovative aerial solutions for critical infrastructure sectors, including renewable energy, oil and gas, and energy utilities.

Volatus utilized RGB and infrared (IR) drones in combination with handheld thermal cameras to collect comprehensive data, ensuring the solar farm's operational readiness. This post-commissioning inspection represents the final phase before the solar fields are handed over to their owners. Volatus applied AI-powered software to process and analyze the data, enabling precise identification of potential anomalies and defects. By georeferencing issues directly to specific panels or equipment,Volatus enabled efficient inspections and interventions, which will help support long-term operational health.

"Through this process we've learned a lot that will help us create more automated and efficient solutions for this growing sector," Rob Walker, Chief Commercial Officer of Volatus Aerospace, stated. "This project demonstrates how scalable drone technology can economically assist large-scale infrastructure inspections. By delivering comprehensive and efficient solutions, we help our clients make informed and improved operational decisions more efficiently. This supports their long-term performance, while reducing maintenance costs and minimizing downtime or inefficiencies."

Volatus sees this as a high-opportunity market, with more than 5,000 solar farms across the United States according to CBS News. The solar energy industry is expected to reach nearly $300 billion USD by 2032, growing at a compound annual growth rate (CAGR) of 17.3% from 2023 to 2032, as reported by Precedence Research. Leveraging its expertise in infrared (IR) technology, Volatus has supported critical applications including search and rescue, thermal leak detection in roofs and building envelopes, optical gas imaging along pipelines, and hotspot mapping in wildfires.

For more information about Volatus Aerospace and our services, visit: www.volatusaerospace.com.

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 or https://dronedeliverycanada.com.

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: FLT.V

Contact Details

Rob Walker
CCO, Volatus Aerospace
+1 833-865-2887
Rob.Walker@volatusaerospace.com

SOURCE: Volatus Aerospace Inc.