The Company is adding to its team in western Canada and will be able to provide drone data solutions throughout the 2017 grow season to customers in Alberta, Saskatchewan and Manitoba - a potential market of 50 million acres.
According to PwC, the commercial drone industry is reported to be $127 billion, with agriculture making up $32.4 billion. In addressing this market opportunity, Deveron is building a standardized constellation of drones and sensors to provide a scalable data solution to growers throughout North America. The Company continues to expand its on-demand data solution that can support the decision-making of companies which are integrating drone technology in precision agriculture.
Deveron monetizes its drone data solution with multiple channels of customers, including crop protection and seed companies, agriculture retailers and cooperatives, independent agronomists and commercial size farm operators. The Company's focus is now to scale operations into new markets and continue to build relationships with leading companies in agriculture.
"A lot of companies are talking about drones these days, but Deveron has been able to monetize collection of data. In 2016 Deveron collected close to 1,000,000 data points on farms across North America," Deveron CEO David MacMillan commented. "We expect that number to grow exponentially as we target the 50 million acres of farmland in western Canada. The growing applications for drones in agriculture is a trend we recognized early on and one we continue to be excited about as we scale our data offering with all of our collaborative customers."
About Deveron UAS:
Deveron is an enterprise drone data services company focused on agriculture, offering the opportunity to increase yields and reduce costs using sophisticated Unmanned Aerial Systems ("UAS" or "drones"), sensors, software and analytics. Deveron's drone data service network allows enterprise level customers to obtain on-demand, actionable data and eliminates technology and capital risks to the grower. The Company is building North America's largest standardized constellation of drones and sensors to provide access to on-demand, near real-time, farm level data.
For more information and to join our community, please visit www.deveronuas.com.
This news release includes certain "forward-looking statements" within the meaning of that phrase under Canadian securities laws. Without limitation, statements regarding future plans and objectives of the Company are forward looking statements that involve various degrees of risk. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are based on management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of agricultural commodities, general market conditions, risks inherent in agriculture, the uncertainty of future profitability and the uncertainty of access to additional capital. Additional information regarding the material factors and assumptions that were applied in making these forward looking statements as well as the various risks and uncertainties we face are described in greater detail in the "Risk Factors" section of our annual and interim Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at www.sedar.com. The Company undertakes no obligation to update this forward-looking information except as required by applicable law. The Company relies on litigation protection for forward looking statements.
Contacts: Deveron UAS Corp. David MacMillan President & CEO 416-367-4571 ext. 226 Email Contact www.deveronuas.com
