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Volatus's iRed wins U.K. methane detection contract

2023-01-05 09:11 ET - News Release

Mr. Glen Lynch reports

VOLATUS AEROSPACE'S IRED WINS FUGITIVE GAS DETECTION CONTRACT IN UK

Volatus Aerospace Corp.'s United Kingdom subsidiary, iRed Ltd., has signed a contract for monthly recurring inspections to detect fugitive methane leaks at 14 water treatment facilities across the northwest of the United Kingdom.

According to Faster and Further: Canada's Methane Strategy, Sept. 2022, methane is a potent greenhouse gas with 25 times more global warming potential than carbon dioxide over a 100-year period. Fugitive methane emissions occurring due to leaks, loose valves or venting of methane gas result in the loss of valuable energy, increased costs and damage to the environment. Optical gas imaging (OGI) visualizes a narrow band of the infrared spectrum allowing the identification of methane and other hydrocarbon gases which may otherwise be invisible to the naked eye.

Under the terms of the 12-month contract, iRed will conduct remote analysis of infrastructure at water treatment facilities across the northwest U.K. using optical gas imaging cameras.

"This is a very strategic win," said Glen Lynch, chief executive officer of Volatus. "In Canada, gas leak detection for the oil and gas industry is already a major line of business for our Synergy Aviation subsidiary. The added capability of optical gas imaging is expected to open new doors with our existing oil and gas customers, as well as create new opportunities in the North American waste management sector. In parallel, iRed can leverage the strength of our oil and gas expertise to generate new opportunities in that sector in the U.K."

Ray Faulkner, president of iRed, added: "The production of methane is a natural part of the waste treatment process. Methane gas is captured and used for bio-energy production and carbon capture. iRed is a specialist in fugitive gas detection, mitigation and inspection. But capturing that data is only half the story; we turn data into actionable reports for stakeholders, such the Environment Agency, to whom the operators are responsible. The potential for us is significant."

According to Deloitte, for the U.K. to progress toward net zero by 2050 it needs to dramatically increase use of renewable and other low carbon energy sources. Incinerating waste, including biomass, is considered renewable energy that reduces overall emissions compared with letting the waste go into a landfill. Energy generation falls when the wind stops blowing and the sun goes down, but biomass incineration can provide renewable baseload power. Research undertaken by the University of Manchester suggests that the U.K. "has the potential to generate up to 44 per cent of its energy from biomass sources, including household waste, agricultural residues, and home-grown biofuels by 2050."

About Volatus Aerospace Corp.

Volatus Aerospace is a leading provider of integrated drone solutions throughout North America and growing into Latin America and globally. Volatus serves civil, public safety and defence markets with imaging and inspection, security and surveillance, equipment sales and support, and training, as well as R&D (research and development), design, and manufacturing. Through the company's subsidiary, Volatus Aviation, the company is 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.

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