TORONTO, March 15,
2023 /CNW/ - Drone Delivery Canada Corp. (TSXV: FLT)
(OTCQX: TAKO) (Frankfurt: A3DP5Y)
or (Frankfurt: ABBA.F) (the "Company" or "DDC") is pleased to
announce that it has been awarded a grant of up to $75,000 in funding from the Downsview Aerospace
Innovation and Research (DAIR) Green Fund for its clean energy
drone delivery solution.
The funding comes following an application process in 2022
pursuant to which DDC was selected as one of eight funding winners.
Funded by the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), the
DAIR Green Fund provides financial support for collaborative
projects that can demonstrate an impact on the future of aerospace
through sustainable and green aviation technologies and
solutions.
DDC intends for the funds to be applied to certain of the
operating costs for the Care by Air project as well as costs
associated with regulatory approvals required to progress towards
beyond visual line of sight ("BVLOS") operations. BVLOS will allow
for the operation of more complex routes with less human resources
required as DDC seeks to add new project phases and route
expansions.
"To meet our goal of becoming a net-zero economy, we must ensure
that we are providing the new capabilities and technology for
industries to easily make the transition. The DAIR Green Fund
provides supports to businesses who are leading the charge in
creating sustainable innovations that will help grow Canada's aerospace industry. The eight
businesses in southern Ontario
that we are celebrating today have created environmentally friendly
projects that will keep this industry competitive globally and
create more jobs nationally. Our government is committed to finding
new ways to move toward a greener economy that works for everyone,"
said the Honourable Filomena Tassi, Minister Responsible for the
Federal Economic Development Agency for Southern Ontario.
"We are honoured to be selected as one of only eight
organizations to receive the funding from the DAIR Green Fund. We
look forward to utilizing the funding to further our BVLOS
capabilities and approvals. The mission of the DAIR Green Fund
aligns perfectly with our mission to develop and commercialize
disruptive and sustainable innovations for our customers," said
Steve Magirias, CEO of DDC.
For more information on the Care by Air project, please see:
https://dronedeliverycanada.com/press-releases/ddc-care-by-air-project-with-halton-healthcare-dsv-canada-commercially-operational/
About the Downsview Aerospace
Innovation & Research
Downsview Aerospace Innovation & Research (DAIR) is a
not-for-profit whose mission is to revolutionize the collaboration
environment by catalyzing innovation in aerospace and beyond. DAIR
supports its members by offering access to state-of-the-art
equipment and infrastructure to accelerate leading-edge and
sustainable research and technology adoption; creating training
solutions for the business and technology challenges of today and
tomorrow; providing a platform for industry, academia, and
government synergies, to foster and advance R&D partnerships;
and advocation for the aerospace industry locally, nationally, and
globally.
For more information about DAIR, please
see: www.dairhub.com
For more information about the Green Fund, please see:
https://www.dairhub.com/initiatives/green-fund/
About FedDev Ontario
For 13 years, the Government of Canada, through FedDev Ontario, has
worked to advance and diversify the southern Ontario economy through funding opportunities
and business services that support innovation, growth and job
creation in Canada's most populous
region. The Agency has delivered impressive results, which can be
seen in southern Ontario
businesses that are creating innovative technologies, improving
productivity, growing revenues, creating jobs, and in the economic
advancement of communities across the region. Learn more about the
impacts the Agency is having in southern Ontario by exploring our pivotal projects, our
Southern Ontario Spotlight, and FedDev Ontario's Twitter, Facebook,
Instagram and LinkedIn.
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 A2AMGZ or ABB.F.
Read more at: www.DroneDeliveryCanada.com or on DDC's
social media:
https://www.linkedin.com/company/drone-delivery-canada
https://www.youtube.com/dronedeliverycanada
https://www.facebook.com/dronedeliverycanada
https://www.instagram.com/dronedeliverycanada
https://twitter.com/DroneDeliveryCa
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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.