TORONTO, ON / ACCESSWIRE / November 18, 2024 / Volatus Aerospace Inc. (TSXV:FLT)(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.

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

Media Contacts:

Edward Hutchinson, Press Secretary
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
edward.hutchinson@feddevontario.gc.ca

Danielle Gagne
Head of Marketing and Communications
danielle.gagne@volatusaerospace.com
+1-579-977-5066

SOURCE: Volatus Aerospace Corp.