Volatus expands power utility drone inspections with multi-year contract worth up to USD60M

Volatus Aerospace has secured a three-year contract with a potential value of up to USD60 million with a major US power utility to provide drone inspection services and reporting on their Transmission and Distribution towers (T&D), expanding the company’s growing T&D inspection activities in the US, says the company press release.

Under the contracts, Volatus will collect and process drone data and perform analytic reporting services. The expected margins from this contract align with our past performance in this services segment.

This contract places electric utilities alongside oil and gas as the company’s top two operating sectors. The company anticipates further expansion as future regulations standardize beyond visual line of sight and autonomous operations.

“This past year, we have demonstrated our ability to scale rapidly, bringing significant value to our clients,” said Rob Walker, COO of Volatus Aerospace. “In 2023, we’ll inspect over 10,000 T&D structures for various utility clients. Starting January 2024, we will add work on the West Coast and anticipate inspecting upward of 25,000 structures in North America, more than doubling this year’s volume. This is a result of adding to our portfolio, expanding existing contracts, and building capacity.”