FLYHT Solidifies Capabilities, Acquires Water Vapor Sensing System from SpectraSensors
September 20 2021 - 6:04AM
FLYHT Aerospace Solutions Ltd. (TSX-V: FLY)
(OTCQX: FLYLF) (the “Company” or “FLYHT”) announced it has acquired
the Water Vapor Sensing System (“WVSS-II”) product line from
SpectraSensors Inc (“SpectraSensors”).
The WVSS-II is a sensor installed on aircraft and provides water
vapour measurements in near real-time throughout an aircraft’s
flight. These observations directly benefit weather forecasting and
improve weather support to aviation.
The acquisition includes manufacturing assets, inventory,
aviation-specific intellectual property, and a license to
SpectraSensors’ Tunable Diode Laser Absorption Spectroscopy
(“TDLAS”) technology for use in the weather and aviation
markets.
There are broad use cases for WVSS-II data. For airlines,
forecasters rely on WVSS-II data to determine the location and
timing of fog, cloud formation, altitude of cloud ceilings, and
precipitation types; this information is critical to determine safe
conditions for aircraft travel. Beyond airlines, this data enables
industry organizations to provide more accurate weather and climate
forecasts leading to increased societal and economic benefits.
A recent NOAA study showed that these aircraft-based
observations are critical for rapidly updating numerical weather
prediction models and reducing numerical weather prediction
forecast error up to 15-20%. This improvement has the potential to
save airlines money by avoiding air traffic delays, which have
raised annual airline operating costs by over $8 billion in the
U.S. alone. Weather accounts for 70% of all air traffic delays
within the U.S. National Airspace, and almost two-thirds of these
delays are potentially avoidable.
“The addition of the WVSS-II sensor to FLYHT’s airborne weather
observation capabilities enhances our already strong commitment to
the collection and dissemination of global weather for the
meteorology community,” said Captain Mary McMillan, FLYHT Board
Member. “As a former airline pilot, I believe our growing
suite of formidable weather tools, which monitor the changing
climate and help improve weather forecasts, provide significant and
growing benefit to the industry and individuals. Our aviation
customers directly benefit through optimized flight plans which
save fuel and ultimately reduce the global carbon footprint.”
The WVSS-II product will enhance FLYHT’s weather business by
adding additional hardware, integration and recurring revenue
sources to its existing Tropospheric Airborne Meteorological Data
Reporting (TAMDAR™) and Aircraft Meteorological Data Relay (AMDAR)
programs.
John Schnake, General Manager at SpectraSensors noted, “We are
excited to find a good partner in FLYHT where the WVSS product line
will continue to provide value to the aviation and weather
community. By divesting this product line, SpectraSensors
will focus on growing our TDLAS technology in our core Oil &
Gas and Chemical industries.”
The WVSS-II will be fully integrated with FLYHT’s AFIRS and EDGE
products to provide real-time aircraft-based observations into
FLYHT’s software products.
“WVSS-II data is integral to FLYHT's Actionable Intelligence
software product suite rollout,” said Ryan Pepper, FLYHT Product
Owner, Flight Dispatch. “Accurate in situ weather data is key to
FLYHT’s real-time optimal flight level and routing product
development roadmap. Airlines installing WVSS-II, along with the
AFIRS Edge product, will have access to unprecedented amounts of
data to drive flight crew decision-making and pre-planning
functions. This provides not only an enhanced level of safety but
also significant fuel cost savings. We will integrate our
JetBridge™ technology with WVSS-II data, and are looking for
creative ways to use this accurate information to provide increased
capabilities for our customers. This data, along with data
collected by the AFIRS family, is ripe for use in FLYHT’s machine
learning applications being developed in conjunction with our
customers.”
The WVSS-II product line was purchased by FLYHT
from SpectraSensors for $500,000 USD.
About FLYHT Aerospace Solutions
Ltd.
FLYHT provides airlines with Actionable
Intelligence to transform operational insight into immediate,
quantifiable action, delivering industry leading solutions to
improve aviation safety, efficiency and profitability. This unique
capability is driven by FLYHT’s patented aircraft certified
hardware products including AFIRS™, a satcom aircraft interface
device which enables real-time streaming of flight information,
cockpit voice and black box data streaming and TAMDAR™, which
aggregates and streams airborne weather data in real-time. FLYHT is
headquartered in Calgary, Canada with an office in Littleton,
Colorado, and is an AS9100 Quality registered company. For more
information, view our latest presentation here, or
visit www.flyht.com.
Cautionary Note Regarding
Forward-Looking Statements
Except for statements of historical fact, this
news release contains certain “forward-looking information” within
the meaning of applicable securities law. Forward-looking
information is frequently characterized by words such as “plan”,
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Contact Information:
FLYHT Aerospace Solutions Ltd. |
FNK IR LLC |
Alana Forbes |
Matt Chesler, CFA |
Chief Financial Officer |
Investor Relations |
403.291.7437 |
646.809.2183 |
aforbes@flyht.com |
flyht@fnkir.com |
investors@flyht.com |
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