Agreement to Roll-Out UAV Training in Malaysia

RNS Number : 0436I

Strat Aero PLC

24 August 2016

 

Strat Aero plc / Index: AIM / TIDM: AERO / Sector: Support Services

24 August 2016

Strat Aero plc ("Strat Aero", the "Company" or the "Group")

Agreement with International University's Malaysian Campus to Roll-Out UAV Training Services

Strat Aero plc, an international aerospace company focused on the rapidly emerging Unmanned Aerial Vehicle ('UAV') sector, is pleased to announce that it has entered into a Master Franchise Agreement with the Limkokwing University of Creative Technology ('LKW'), an international technology university, to roll out UAV training services.

Initially launching in LKW's prestigious Cyberjaya campus outside Kuala Lumpur in Malaysia, Strat Aero and LKW plan to roll-out the Strat Aero UAV training solutions to other LKW campuses over the next two years, with a particular focus on Africa. 

Strat Aero will provide a complete set of training materials and accreditation services as well as instruct LKW's trainers, enabling LKW to deliver a comprehensive suite of UAV training products.

In addition to initial set up fees, Strat Aero will earn a percentage of student fees charged by LKW.  One course is expected to be held during 2016 with the programme expanding during 2017 with a target in the range of 15 - 20 courses per year.  Strat Aero expects 2016 revenue from this contract to be approximately $50,000 with the expectation that this will build substantially over the coming years.

The Strat Aero training solutions have been created by leading experts from the UAV industry. The Strat Aero training team includes:

•         The Head of Flight Training from one of the UK's leading flight training schools

•      The Chief Instructor and Commander of Standards & Evaluation for the Royal Air Force MQ-9 Reaper fleet

•         Industry experts from the commercial and military unmanned aviation sector who between them have several thousand hours of flight experience with Unmanned Aerial Vehicles

Unlike many training organisations, Strat Aero flies its own commercial UAV fleet to deliver inspection and survey services to clients, allowing real-world learnings to be embedded directly into Strat Aero's training materials.   By offering Strat Aero's training solutions, LKW will therefore be able to provide a complete programme for students keen to develop their careers as professional UAV operators, with an up-to-date understanding of regulation and technology as well as practical flying skills.  In addition, LKW will be able to integrate a UAV module into many of their existing courses such as Urban Planning & Design, Construction Management, Digital Film & Television, Creative Multimedia and Events Management - industry sectors that will increasingly take advantage of UAV technology.

Iain McLure, CEO of Strat Aero, said:  "We are delighted to be working with LKW to roll-out our professional UAV training solutions.  LKW has a globally recognised track record for innovation and we are proud to be adding our specialist expertise to their range of educational offerings. Receiving this contract award from LKW in the same month as being granted National Qualified Entity status by the UK's Civil Aviation Authority underpins the highly professional quality of Strat Aero's UAV training programmes."

Dato' Gail Phung, Vice President of Corporate Development of LKW, said: "UAVs are a powerful new technology platform, and we see growing demand from our students to master both the theoretical and practical aspects of using these devices.  We expect to see a wave of creative innovation as LKW students use UAVs not only to capture video footage but to create 3D models, infra-red analysis, composite photos and a whole range of new applications that we haven't yet begun to imagine.  Strat Aero's professional knowledge and real-world track record will enable us to deliver a first-class student experience, and to keep this up-to-date as technology changes."

Background to Limkokwing University of Creative Technology

Limkokwing University of Creative Technology is a private international university with a presence across Africa, Europe and Asia.  With its main campus in Malaysia, the university has 12 other campuses in Botswana, Cambodia, China, Indonesia, Lesotho, Sierra Leone, Swaziland and the United Kingdom.  Founded in 1991 by Tan Sri Dato' Sri Paduka Dr Lim Kok Wing, the Limkokwing network of campuses now support a total enrolment of more than 30,000 students from more than 165 countries, making it the world's most globalised university.  Limkokwing's UK operations are accredited by the Accreditation Service for International Colleges and Universities (ASIC).

- ENDS -

For further information please visit www.strat-aero.com or contact:

Strat Aero plc	Tel: [phone]
Graham Peck (Chairman)
SP Angel Corporate Finance LLP	Tel: [phone]
Nominated Adviser and Joint Broker
Stuart Gledhill Jeff Keating
Beaufort Securities Limited	Tel: [phone]
Joint Broker
Elliot Hance
Cornhill Capital Ltd
Joint Broker
Colin Rowbury	Tel: [phone]
St Brides Partners Ltd	Tel: [phone]
Financial PR Frank Buhagiar Susie Geliher

Notes

Strat Aero plc is a multi-divisional international aerospace services company, focussed primarily on the provision of complete client solutions in the Unmanned Aerial System ('UAS' market), which is predicted to show exponential growth over the coming decade.  Commercial and military applications in UASs are expected to be a dynamic growth sector in the aerospace industry over the next 10 years with the UAS market forecast to grow to more than US$82.1 billion between 2015 and 2025 (AUVSI Economic Report 2013) and the global airborne Intelligence, Surveillance and Reconnaissance ('ISR') market estimated to grow to US$19.23 billion by 2023. 

 

END

 

 

AGRPIMBTMBBTBIF