GoldnBoy replied the topic: News, events about Drone Delivery Canada CSE:FLT
Been quite here, good news on Friday,
Mr. Paul Di Benedetto reports
DRONE DELIVERY CANADA COMPLETES FIRST EVER TEST FLIGHTS IN THE UNITED STATES OF AMERICA
Drone Delivery Canada Corp. completed a series of successful test flights during the week of March 5, 2018, in the United States at the Griffiss International Airport located in Rome, N.Y.
"Testing at Griffiss was a natural extension for continued progress with our platform in a BVLOS [beyond visual line of sight] non-segregated airspace environment. An active runway with large aircraft, helicopters and general aviation aircraft is the latest advancement to our operations team airspace integration efforts and a progression from the knowledge learned during Drone Delivery Canada's Moosonee operations, which remain ongoing. We are pleased to report 100-per-cent success rate with all our test fights and look forward to our expansion into the United States, which has now begun in earnest," commented Paul Di Benedetto, chief technology officer of Drone Delivery Canada.
The Griffiss International Airport, located approximately 500 kilometres from the company's Canadian facilities, is one of seven Federal Aviation Administration-designated UAS (unmanned aircraft system) test sites that provides BVLOS research and development capabilities and long-distance testing corridors within active airspace.
"I am pleased that Drone Delivery Canada's testing at Griffiss International Airport was a success and that the company chose our test site for its first-ever operation in the United States," said Oneida County Executive Anthony J. Picente Jr. "This partnership is further evidence of how Oneida County is leading the way in the advancement and development of the UAS industry."
Tests were conducted utilizing the company's Transport Canada-compliant Sparrow drone, which has a lifting capacity of five kilograms. Testing also included Drone Delivery Canada's mission control operations, the company's proprietary FLYTE management system as well as Drone Delivery Canada's proprietary DroneSpot technology, which provides secure and controlled takeoff and landing area for users to interact with. The real-time data provided by the DroneSpot include localized weather, surrounding aircraft awareness, weight and balance monitoring, among other data points integral for safe public operations.
"Testing at Griffiss was a significant milestone for Drone Delivery Canada and the beginning of our U.S. expansion program. In addition to our continued advancements in Canada, we look forward to continued success in the United States and are pleased to report the team has been working very hard working alongside key stakeholders, including the federal regulator. We would like to thank all stakeholders, including the Federal Aviation Administration (FAA) and a special thanks to the Griffiss International Airport, the Oneida Country Department of Aviation and the NUAIR Alliance for assisting us with our international development efforts," commented Mark Wuennenberg, vice-president, regulatory affairs, of Drone Delivery Canada.
As Drone Delivery Canada continues to test and operate in multiple, complex and diverse environments, the company's drone delivery solution continues to strengthen as it better integrates with existing air operators and complies with airspace policies and procedures, all while putting public safety at the forefront as the company rapidly approaches commercialization.
Macquarie - Equities Research
Drone Delivery Canada - FLT CN
Innovation Takes Flight – Raise TP to $3
We are raising our TP to $3.00 from $2.50 on increased revenue certainty post FLT receiving the Compliant UAV Operator Special Flight Operations Certificate (SFOC) from Transport Canada that effectively allows it to become the first authorized drone delivery operator in the country.
We consider achieving the SFOC milestone to be significant for several reasons: First, it fully de-risks the binary nature of the stock as the company has successfully overcome a key regulatory hurdle; Second, it paves the pat h for FLT to achieve BVLOS commercialization later this year contingent upon flight path approval; Third, we consider this to be an endorsement by Transport Canada on FLT’s proven business model, safe track record and management quality. We think this approval will facilitate future regulatory process involving larger drones that are critical to FLT’s economics; Finally, this milestone illustrates Canada’s willingness to leverage new technology that will position the country at the forefront of drone service adoption and innovations.
Maintain OP-rating. We consider FLT the best drone pure-play globally that is well positioned for the growing drone utilization across North America (link to thematic) and in Canada ( link to initiation).
Raising estimate on increased revenue certainty. We are raising our monthly revenue per site assumption to $20k/month from $15k/month in 2019E and scaling to $32k/month by 2028E as we expect FLT to achieve higher volume and/or payload as it expands nationwide. Our 2028E terminal year revenue estimate of $722m implies 6% of Canada’s air freight market (vs. 5% prior), which we think is reasonable given FLT’s first-mover and cabotage advantage. ( LINK)
Catalysts on the horizon: Flight path approval and bigger drones. Following the SFOC status, FLT will work with Transport Canada on establishing authorized flight path in northern Canada. We expect 5-10 path to be approved in the first batch with the Moose Factory/Moosonee region being one of them. We also expect additional regulatory approval on heavier drones given their importance on justifying the economics of the business model.
Earnings and target price revision
Raise TP to $3.
12-month price target: C$3.00 based on a DCF methodology.
Catalyst: Flight path approval, new customers, heavy drones, positive test results
Action and recommendation
Fundamental to our thesis is the prospect that FLT can achieve sufficient scale via drones with larger payload. In the event that regulatory approvals face delays or unobtainable, the stock would have questionable value in our view.
WealthyPlumber replied the topic: News, events about Drone Delivery Canada CSE:FLT
Drone Delivery an olympics winner, you guys see this
The setting? PyeongChang, South Korea in freezing cold temperatures. The goal? Fly over 1200 Intel Shooting Star drones for a record-breaking performance. Follow the drone team’s journey to the Opening Ceremony
Gambler replied the topic: News, events about Drone Delivery Canada CSE:FLT
Big news with FLT after market.
TORONTO, Feb. 9, 2018 /PRNewswire/ - Drone Delivery Canada 'DDC or the Company' (TSX.V:FLT OTC:TAKOF), is pleased to announce that Transport Canada has granted the Company a Compliant UAV Operator Special Flight Operations Certificate (SFOC).
A Compliant 'UAS' (Unmanned Aircraft System) was the first of three regulatory components to the Transport Canada Compliant UAS Operator program, and mandatory for a Compliant UAS Operator SFOC, which the Company obtained and announced in December 2017.
Today, receiving this additional approval represents the balance of the remaining two steps of a methodical process to prove the Company's operational safety practices and our professionalism to Transport Canada. This milestone, achieving a Compliant Operator SFOC, is both essential and necessary for any UAV operator wanting to conduct Beyond Visual Line-of-Sight operations; and for our specific purpose of drone delivery services.
"The Company has been working around the clock to achieve compliant status and is both grateful and appreciative of being recognized as a professional and safe operator of unmanned aircraft (UAS) by Transport Canada. Realizing this milestone enables DDC to continue moving towards becoming a leader in drone delivery services for Canadians by Canadians across our vast geography", commented Mark Wuennenberg, Vice-President of Regulatory Affairs Drone Delivery Canada.
Approval of this certificate is the starting point for the commercialization of drone delivery services in Canada. To this end, DDC intends to work with Transport Canada to trial beyond visual range delivery solutions in remote areas of Canada's north.
Drone Delivery Canada appreciates the efforts of Transport Canada in creating a favorable environment to grow innovative technology.