Volatus Aerospace has completed the acquisition of Sky Scape Industries, LLC., of Woodbine New Jersey, positioning itself as a leading provider of inspection services to power utilities across North America.
Volatus has been providing inspection services to power utilities in Canada for the past couple of years. The addition of Sky Scape Industries will enable Volatus to offer services such as the use of LiDAR, photogrammetry, thermal, and corona sensors to inspect sub-stations, structures and their related assets; line leading/stringing; and right-of-way inspections to monitor vegetation encroachment and other threats. Intelligence services include data services to deliver actionable reports.
Expected 2023 revenue from existing inspection projects is C$1.4 million of which approximately C$1 million is recurring with margins, net income, and expenses within historical norms for projects of this nature.
“This was a strategic move for Volatus and in line with our objective to become a dominant provider for corridor inspections in oil and gas, power utilities, and railway,” said Glen Lynch, CEO of Volatus Aerospace Corp. “With more than 10,000 structure inspections already contracted and underway for 2023, power utilities have become a key industrial sector for Volatus, second only to our pipeline surveillance services for oil and gas.”