- Volatus Aerospace (TSXV:VOL) will provide bi-weekly aerial surveillance of pipeline right of way with a U.S. oil and gas company
- Volatus’ subsidiary, Synergy Aviation signed a master services agreement to start its surveillance in the northern states and ending in Texas
- The trial was completed earlier this month, and is expected to yield US$400,000 to US$500,000 per year
- Volatus Aerospace Corp. last traded at $0.23 per share
Volatus Aerospace (TSXV:VOL) will provide bi-weekly aerial surveillance of pipeline right of way with a U.S. oil and gas company.
Volatus’ subsidiary, Synergy Aviation signed a master services agreement to start its surveillance in the northern states and ending in Texas.
The trial was completed this month, and inspections will begin Aug. 1. This is expected to yield US$400,000 to US$500,000 per year.
“We have over a decade of sector experience in Canada, having flown more than 1 million kilometres of pipeline right of way annually stretching from Kitimat, British Columbia, to Ottawa, Ontario,” Volatus Aerospace’s CEO, Glen Lynch said in a news release. “Our continued expansion into the U.S. oil and gas pipeline surveillance market demonstrates our ability to scale and provide our customers with the data and actionable intelligence they need to maintain their assets. We are excited for this opportunity, especially in a market as established as Texas.”
According to the U.S. Chamber of Commerce Global Energy Institute , the United States has around 4.2 million km of oil and gas pipeline.
Energy companies and pipeline operators use aerial inspection services to ensure that their infrastructure is safe and in compliance with regulations. Piloted aircraft and long-endurance drones are used to watch pipeline right of way for signs of damage, leaks, gas emissions or potential threats such as unauthorized machinery or construction close to the pipeline.
Volatus Aerospace Corp. provides integrated aerial intelligence solutions, using drones and commercial aircraft. Volatus serves civil, public safety, and defence markets with imaging and inspection, security and surveillance, equipment sales and support, training, as well as R&D, design and manufacturing.
Volatus Aerospace Corp. (TSXV:VOL) last traded at $0.23 per share and has flown 91.67 per cent higher in the past month.
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(Top photo: Volatus Aerospace Corp.)
