Volatus Aerospace Corp. (TSXV: VOL) (OTCQB: VLTTF) ("Volatus" or "the Company") announces a joint venture with EOLO Drones S.A.C. ("EOLO") signed on June 2, 2022. The business will be called Volatus Aerospace LATAM and will expand Volatus' commercial operations in Latin America.
Under the terms of the agreement, which includes commercial activities for both civil and governmental entities, Volatus Aerospace holds 75% equity, with EOLO holding the remaining 25%.
“Latin America is a vast, emerging market with exciting opportunities for drones in sectors such as mining, infrastructure, renewable energy, and agriculture,” said Luc Masse, Executive Vice President of Volatus. “Success in this region requires an understanding of language, culture, and local legislation. Volatus Aerospace LATAM will represent our brand throughout South America and execute our expansion using a strategy adapted specifically to these markets.”
"Canada’s largest defence and security trade show, CANSEC, was a tremendous success for Volatus. Given the number of international delegations, it seemed appropriate to sign our joint venture with EOLO at the conference," said Glen Lynch, Volatus CEO. "Our business has expanded in Latin America, and it’s an important market for us. We are looking forward to attending Peru's inaugural drone conference this year, and I'm grateful for the personal invitation we received from Lieutenant-General Carlos Chávez Cateriano, Chief of Staff for the Peruvian Air Force."
Bruno Leoni, CEO of EOLO, stated: "I am proud that we have elevated our partnership to expand our services and products across Latin America. We look forward to identifying opportunities in the market and leading the expansion. I would like to thank Volatus for making us welcome at CANSEC and choosing us to be their South American partners."
About Volatus Aerospace:
Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout Canada, the United States, and Latin America. Operating a vast pilot network, Volatus serves commercial and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, and design, manufacturing, and R&D. Through its subsidiary Volatus Aviation, Volatus carries on the business of aircraft management, charter sales, and cargo services using piloted, remotely piloted, and autonomous aircraft.
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Source: Volatus Aerospace Corp.
Volatus Aerospace Corp.