DRONE DELIVERY CANADA CORP. AND PEGASUS IMAGERY LTD. SIGN MEMORANDUM OF UNDERSTANDING FOR THE DEVELOPMENT OF CONDOR ONBOARD DETECT AND AVOID TECHNOLOGY
TORONTO, March 28, 2023 /CNW/ - Drone Delivery Canada Corp. (TSXV: FLT) (OTCQX: TAKOF) (Frankfurt: A3DP5Y) or (Frankfurt: ABBA.F) (the "Company" or "DDC") is pleased to announce that it has signed a memorandum of understanding with Pegasus Imagery Ltd. ("Pegasus") to work together to develop and implement on board detect and avoid technology ("DAA") for DDC's heavy lift Condor remote piloted aircraft ("RPA").
The basis of the development effort will be to integrate Pegasus' proprietary A3S™ DAA system onto the Condor. A3S™ is an Autonomous Airspace Awareness System using sensor fusion to merge onboard sensor data with artificial intelligence to detect, track and autonomously avoid other aircraft and obstacles.
This project builds on DDC's efforts to implement DAA technology into all its RPAs to move towards fully automated flights for all operations to be conducted in accordance with the Canadian Aviation Regulations and Transport Canada flight authorizations, while being remotely monitored by DDC through its proprietary FLYTE software from its Operations Control Centre located in Vaughan, Ontario.
With the Pegasus A3S™ onboard DAA system integrated into the Condor, DDC would have a full suite of DAA systems integrated into its patented drone delivery technology enabling automated flights and enable DDC to increase its offerings into potentially more complex air spaces, while significantly increasing operational efficiency.
"We are thrilled to work with the Pegasus team on this exciting project which represents a final piece towards achieving fully automated flights for the Condor RPA. Cole and his team have made tremendous progress on their proprietary A3S™ system and we are excited to integrate this technology onto our Condor" said Steve Magirias, CEO of DDC.
"A3S™ unlocks the full potential of the Condor RPA and will enable Drone Delivery Canada to commercialize heavy lift cargo delivery for industry and government customers at scale, "said Pegasus CEO Cole Rosentreter. "This will shape the next century of middle-mile logistics, through a flexible, scalable and certifiable safety system" said Pegasus CEO Cole Rosentreter. "We're excited to be working with Steve and the DDC team to launch this game-changing capability together in Canada and future global markets."
About Pegasus Imagery Ltd.
Pegasus is an aerospace company developing breakthrough technologies to deliver autonomous data collection at scale for industry and government. A recognized leader in Advanced Air Mobility, Pegasus UAS are equipped with industry leading hardware and software, including A3S™, a proprietary Detect And Avoid system for safe integration of equipped UAS into the National Airspace System. Pegasus is based in Sturgeon County, Alberta.
About Drone Delivery Canada Corp.
Drone Delivery Canada Corp. is an award-winning drone technology company focused on the design, development, and implementation of its proprietary logistics software platform, using drones. The Company's platform is intended to be used as a Software as a Service (SaaS) model for government and corporate organizations globally.
Drone Delivery Canada Corp. is a publicly listed company trading on the TSX Venture Exchange under the symbol FLT, on the U.S. OTC QX market under the symbol TAKOF and on the Frankfurt exchange in Germany under the symbol A3DP5Y or ABBA.F.
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Notice Regarding Forward Looking Information
Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. Such statements often address expected future business and financial performance, financial condition, and other matters, and often contain words or phrases such as "expect," "may," "can," "believe," "forecast," "estimate," "goal," "target," "will," and other similar expressions, and variations or negatives of these words or phrases. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, market acceptance, and dependence upon regulatory approvals (both in Canada and internationally). Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward looking information. Except as may be required by applicable securities law, the parties undertake no obligation to update forward-looking information, whether as a result of new information, future events or otherwise.
SOURCE Drone Delivery Canada Corp.
Investor Relations: Mr. Steve Magirias, Chief Executive Officer, and Mr. Bill Mitoulas, Telephone: (416) 479-9547, Email: [email protected]; Media Relations: Mr. Steve Magirias, Chief Executive Officer
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