Volatus Aerospace Corp. (VOL)(VLTTF) ("Volatus")is proud to announce expansion into the US of its oil and gas pipeline surveillance operations, signing an initial contract with a leading energy company headquartered in the US set to launch in October 2023.
A leading provider of aerial intelligence, Volatus has an established track record in the oil and gas industry in Canada, providing services since 2013 through its subsidiaries, Canadian Air National and Synergy Aviation. The Company has flown over one million kilometers of pipeline right of way annually from Kitimat, British Columbia to Ottawa, Ontario.
"Our experience and expertise put us in a strong position to capture a market opportunity that is expected to grow to US$1.1B by 2033," said Glen Lynch, CEO of Volatus Aerospace, noting that Volatus expects to grow to an annualized revenue of up to CAD $4 million in 2024 with EBITDA (Earning Before Interest, Tax, Depreciation, and Amortization) margin of 10%, in line with our past performance from this services segment in Canada.
According to the US Chamber of Commerce Global Energy Institute , the United States has approximately 4.2 million km of oil and gas pipeline, almost 5X the size of Canada, as reported by the Canadian Association of Petroleum Producers. of oil and gas pipeline, almost 5X the size of Canada, as reported by the Canadian Association of Petroleum Producers.
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 monitor pipeline right of way for signs of damage, leaks, gas emissions, or potential threats such as unauthorized machinery or construction close to the pipeline. The frequency of aerial inspection is highly regulated and range from daily, quarterly and annually depending on the size of the pipeline and its contents.
The Company has competitive advantage through its proprietary software - Aerial Information Reporting System (AIRS3); partnerships with advanced sensor and AI companies; and the ability to offer drone aerial intelligence to supplement or replace piloted aircraft, thereby reducing risk to human life, financial costs, environmental impacts, and disruption to wildlife.