Volatus Aerospace and Mitsubishi Electric US, Inc. to Collaborate for Logistics Operations Management

TORONTO, ON / ACCESSWIRE / May 29, 2024 / Volatus Aerospace Corp. (TSXV:VOL)(OTCQB:VLTTF) ("Volatus" or "the Company") announces a collaboration with Mitsubishi Electric US, Inc. to use their AnyMile™ drone-based, logistics operations management platform to provide end-to-end logistics management to scale. Later this year, the two companies will work together on a funded trial to provide logistics and deliveries to offshore oil rigs. Subject to the closing of Volatus' previously announced merger of equals with Drone Delivery Canada (DDC), the collaboration anticipates using the DDC Canary aircraft flown from their operational control centre (OCC).

In the emerging drone delivery market, there has been a lot of attention on the drone and regulations. However, to scale, there needs to be an intuitive system for customers to manage their package delivery from origin to destination-the AnyMile platform addresses this need and enables package delivery logistics management at scale.

"Volatus sees this collaboration as an opportunity to enhance our customer logistics experience, enabling them to scale seamlessly," said Glen Lynch, CEO of Volatus Aerospace. "Drone delivery needs to be convenient, scalable, and beneficial for adoption. It should be as simple as coordinating package delivery with any of today's major carriers. This is why we are collaborating with Mitsubishi Electric US, Inc. to use their AnyMile platform."

"The AnyMile platform provides an end-to-end, trustworthy system to manage the cargo delivery operations of Volatus. From start to finish, we enable customers to track and monitor their shipments reliably, no matter how complex," said Zafer Sahinoglu, Ph.D., VP of Innovation for Mitsubishi Electric US, Inc. "We are excited to collaborate with Volatus to bring innovation and solve problems."

About Volatus Aerospace:

Volatus Aerospace Corp. is a leading international provider of aerial intelligence solutions, using drones and commercial aircraft. Volatus serves civil, public safety, and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, as well as R&D, design, and manufacturing. We are focused on introducing green and innovative drone solutions to supplement and replace traditional aircraft and helicopters for long-linear inspections such as pipeline, energy, rail, and cargo services. Volatus is committed to carbon neutrality; the fostering of a safe, equitable and inclusive workplace; and responsible governance.

About Mitsubishi Electric US, Inc.

Mitsubishi Electric US, Inc., a US affiliate company of Mitsubishi Electric Corporation and home to the Mitsubishi Electric Innovation Center, manufactures cooling and heating products, elevators and escalators, space and sensing systems, and semiconductor devices. Mitsubishi Electric contributes to a vibrant and sustainable society through continuous innovation and a commitment to "Making Changes for the Better." For additional information visit us.mitsubishielectric.com.

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; (iii) the expected closing of the business combination with Drone Delivery Canada; and (iv) 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; the ability to satisfy the conditions to closing of the business combination with Drone Delivery Canada, some of which are beyond the control of the Company and Drone Delivery Canada; 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.

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TSXV:VOL

Contact Details

Dean Attridge
Vice President, Solutions Engineering, Volatus Aerospace
+1 702-755-9825
Dean.Attridge@volatusaerospace.com

Glen Lynch
Chief Executive Officer
Volatus Aerospace Corp.
glen.lynch@volatusaerospace.com

SOURCE: Volatus Aerospace Corp.