Valmie Resources Inc (OTCBB:VMRI) disclosed that it is assessing unmanned aerial vehicle technology successfully implemented outside the U.S., following the completion of a joint venture deal with MEA, a global crop monitor.
Valmie is evaluating these UAV technologies in an effort to locate elements that eventually can be adapted in the United States when Federal Aviation Administration restrictions ease. Gerald B. Hammack, the President and CEO said that while Federal Aviation Administration regulations presented in February are more relaxed compared to expectations, there are some regulations that are still obstructing the automated drone revolution.
It is an important part of the plan. As the company starts its collaboration with MEA, it will have an opportunity to identify foreign technologies that ultimately could prove noteworthy in the U.S.
Jalisco which is a Mexico-based MEA offers crop monitoring and related data collection services primarily in South and Central America. As per the deal with MEA, Valmie will manufacture and commercialize an agricultural drone solutions meeting the needs of MEA and its clients.
The solution will consist of UAV technology and software of Autonomous Intelligence for Mobile Devices. The management said that Valmie is delighted to have an opportunity to work on its UAV technology in a flexible environment and anticipate the FAA will ease some of its restrictions as advanced UAV technology continues to establish itself in the rapidly growing global marketplace.
Valmie’s UAV’s technology will be utilized by MEA to inspect crops, monitor for diseases and accurate application of fertilizers and pesticides. It provides a thorough view of the fields’ overall condition and offers relevant data.
In last trading session, the stock price of VMRI surged more than 7% to close the trading session at $1.46. The gain came at a share volume 76,398 of compared to average share volume of 88,592.