The companies will merge under the Volatus Aerospace name while maintaining Drone Delivery Canada’s name and brand for cargo operations.
They will combine the expertise of the two companies with Drone Delivery Canada investing over $40 million in cargo drone solutions and Volatus’ focus on drone services, training and equipment sales means it can bring them to market.
Volatus has been working on commercialising its Advanced Air Mobility solutions as regulations start to allow the commercialisation of drone cargo and remote drone operations.
Drone Delivery Canada’s remote operations centre, Flyte management software, DroneSpot infrastructure and cargo aircraft means the combined company can share technology and experience to grow in the short- and long-term.
Steve Magirias, CEO of Drone Delivery Canada, says, “Drone Delivery Canada has been searching for the right partner to join us on our growth journey and we are confident that Volatus is a great fit, from a management vision point of view, industry know-how, and experience. We were initially attracted to Volatus' strong reputation in the industry, admirable fiscal management through a challenging capital markets environment, and vision towards generating diversified lines of revenue.”
Ian McDougall, Chair of Volatus Board of Directors, adds, “Volatus sees a tremendous opportunity to commercialise Drone Delivery Canada's advanced technologies, through our network of partners, Fortune 500, international mining, oil and gas, and utilities clients, further positioning the combined company as a global leader in drone technologies and services.”
Following the merger, the Board of Directors will consist of seven directors, of which three will come from Volatus including Ian McDougall who will be Chair, two from Drone Delivery Canada and two to be mutually agreed upon at a future date.
Management will include executives from both companies with Volatus CEO, President and Director Glen Lynch taking the role of CEO and Magirias becoming Chief Operating Officer.