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.