SASKATOON, SK - Draganfly Inc. (NASDAQ: NASDAQ:DPRO) (CSE: DPRO) (FSE: 3U8A), a leading drone technology company trading at $3.52, has announced a strategic collaboration with Volatus Aerospace (TSXV:FLT) (OTCQX:TAKOF (OTC:TAKOF)) (FRANKFURT: ABB (ST:ABB)), aiming to innovate in the energy sector with their advanced drone technology. According to InvestingPro analysis, Draganfly appears undervalued based on its Fair Value assessment, despite experiencing a challenging year with a -61.79% return over the past 12 months. This partnership is expected to meet the increasing demand for precise data acquisition in energy markets, particularly for underwater mapping critical to oil and gas exploration.
The collaboration will integrate Volatus Aerospace's advanced Bathymetric sensor technology with Draganfly's Heavy Lift Drone, which is known for its substantial payload capacity and extended flight durations. These integrated systems will be showcased in pilot projects and demonstrations to highlight their capabilities. With current revenues of $4.34M and a gross profit margin of 34.52%, Draganfly aims to strengthen its market position through this strategic partnership.
Volatus Aerospace will also become a value-added reseller of Draganfly’s product portfolio, which includes the Heavy Lift Drone, Commander 3XL, and Apex Drones. The agreement positions both Draganfly and Volatus Aerospace to capitalize on the projected growth of the global offshore oil and gas exploration market, which is expected to exceed $104 billion by 2030, according to Mordor Research.
Cameron Chell, CEO of Draganfly, expressed enthusiasm for the collaboration, highlighting the opportunity to extend the reach of their Heavy Lift Drone into new markets. Glen Lynch, CEO of Volatus Aerospace, also emphasized the shared commitment to innovation and the delivery of value to clients in the oil and gas exploration industry.
The partnership is set to open new revenue streams for both companies and reinforces their commitment to creating value for shareholders. The collaboration is based on a press release statement and is expected to contribute to the expanding UAV and energy markets through strategic deployments, product demonstrations, and pilot programs.
Both companies bring a wealth of expertise to the table, with Draganfly being a pioneer in drone technology and systems, and Volatus Aerospace specializing in aerial solutions for intelligence and cargo. The collaboration is a significant step for both organizations as they seek to leverage their combined capabilities in the UAV and energy sectors. InvestingPro data reveals Draganfly maintains a solid current ratio of 1.94, though its overall financial health score indicates room for improvement. Subscribers can access over 30 additional financial metrics and exclusive insights about Draganfly's market position.
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