SkyX seeks funding to develop drones for oil and gas industry
Aerospace group SkyX is to launch series A financing to develop Unmanned Aerial Vehicles (UAVs) to service the gas and oil industry. SkyX's SkyOne drones are capable of vertical take-off and landing, autonomous flight and recharging. While the drones tend to be deployed for the inspection of pipelines, they are also used for mapping and security surveillance. The industry spends $37bn per annum monitoring pipeline leaks.
SkyX – the innovative aerospace group based in the Greater Toronto Area (GTA) – has announced its public launch as it prepares to secure its Round A financing. Founded by a former Captain in the Israeli Air Force and a Drone Pilot, Didi Horn, SkyX has developed ground-breaking Unmanned Aerial Vehicles (UAVs) – also known as 'drones' – to service the oil and gas industry.

Developed to inspect pipelines for damage, as well as for mapping and security surveillance, SkyX's SkyOne drones offer Vertical Take-Off and Landing (VTOL) capabilities, as well as autonomous flight and recharging. SkyOne can travel at 150 km/hr for 70 min. and can detect leaks, vandalism, vegetation encroachment – and more.

The oil and gas sector currently relies heavily on road vehicles and manned aircraft (i.e helicopters) to detect any damage or threat. Both methods are more expensive, and less efficient than the SkyX solution. SkyOne allows for 24/7, unlimited data collection, provided in real-time and offers a far wider scope of information for the user. Offered on a service-leasing model, SkyOne allows oil and gas companies to access custom data and information without being burdened by any possible maintenance. The company is able to control either an individual UAV or an entire fleet and can monitor events through real-time video.

Perhaps most groundbreaking is the fact that the SkyOne is able to recharge itself in the field. Through proprietary technology, the drone does not need to return to home base to recharge. Instead, it flies to the nearest available xStation, where it recharges in a weather-shielded dome before continuing its mission.

Pipeline leaks are a massive global concern. Statistics suggest that globally, the market spends US$37 billion/y just in monitoring. With one patent filed in North America and a couple more on the way, and more than 10 000 000 km of oil and gas pipelines worldwide, the market and growth potential is huge.

Didi Horn, SkyX Founder and CEO, said, "We have built not only a fantastic, game-changing product for the oil and gas industry, but have also built a fantastic team of experts ready to get it out there. The market is, obviously, of huge global importance. We know that our technology can significantly cut costs and improve efficiency – helping the sector as a whole, along with each and every customer. Our unique solution, which combines both VTOL flight and autonomous remote charging puts us well ahead of the competition. As a result, we are en route for significant expansion, offering an unprecedented opportunity for a strategic investment partner to help us conquer and secure significant market share in an ever-growing industry."