UAS pilot trainer Strat Aero is spying out the lie of the land for a flotation on Aim. The firm has raised £650,000 in a placing at 8p a share, giving it a value of £6.2million. Trading in the stock was due to start yesterday.
Strat Aero’s adviser is SP Angel, which is also joint broker alongside Beaufort Securities. The funds will be used to expand its operations, particularly in the so-called unmanned aerial systems (UAS) market. The industry trade body has estimated the UAS market will grow to £51billion by 2025.
The chief executive is former American airline pilot and trainer Russell Peck. Despite their surnames, the two are not related. Russell Peck said: “Strat Aero offers a unique opportunity to gain exposure to the near exponential growth forecast for the UAV (unmanned aerial vehicle) market and also to the wider aerospace industry.
“The potential uses for UAVs in both the public, governmental and commercial sectors are seemingly limitless and highly varied.
“They range from the delivery of goods by retailers to the monitoring of wind farm turbines and remote oil and gas fields, and search and rescue operations.”
Source: Daily Express