Aero Velocity and HMT Announce Strategic Agreement to Scale Drone & Robotics Inspections

Key Terms

ndaa-compliant regulatory

NDAA-compliant means that a product, supplier, or company meets the rules in the U.S. National Defense Authorization Act that bar certain foreign technologies and require specific security practices. For investors, compliance matters because it determines whether a business can sell to the U.S. government, avoid fines or bans, and reduce supply‑chain or reputational risk—similar to passing a background check that lets you bid on a sensitive contract.

uavs technical

Unmanned aerial vehicles (UAVs) are remote-controlled or autonomous flying machines—think of them as motorized, programmable model airplanes or helicopters that can carry cameras, sensors, cargo or other equipment without an onboard pilot. For investors, UAVs matter because they create new revenue streams and cost savings across industries like defense, delivery, agriculture, and inspection, while being sensitive to regulation, technology changes, and manufacturing supply chains.

photogrammetry technical

Photogrammetry is a method of creating accurate measurements and 3D models from multiple overlapping photographs, using the differences between images to calculate distances, sizes and positions. For investors it matters because it turns routine photos into precise maps and digital replicas used to inspect assets, monitor construction or environmental changes, assess damage and reduce surveying costs — helping companies reveal risks, prove progress and save time and money.

lidar technical

Lidar, which stands for Light Detection and Ranging, is a technology that uses laser beams to create detailed, three-dimensional maps of the environment. It works like a sophisticated eye that measures distances by bouncing light off objects, helping machines see and understand their surroundings. For investors, lidar is important because it enables advancements in autonomous vehicles, robotics, and mapping, which can drive innovation and growth in related industries.

MINNETONKA, Minn.--(BUSINESS WIRE)-- BT Brands, Inc. (Nasdaq: BTBD) today announced a strategic collaboration between its proposed merger partner, Cincinnati, Ohio-based Aero Velocity Inc. (“Aero Velocity”), and privately held HMT LLC (“HMT”). Aero Velocity is a designer and manufacturer of American-made, NDAA-compliant UAVs and an operator of a Drones-as-a-Service (DaaS) business. HMT LLC (“HMT”) is a leader in aboveground storage tank technology and environmental solutions for energy storage. The strategic collaboration establishes Aero Velocity as HMT's preferred provider for drone and robotic data acquisition in support of internal and external tank inspection and asset integrity programs.

Targeting a Large, Regulated, Recurring Market

The collaboration positions both companies to address a large and recurring U.S. inspection services market, driven by regulatory compliance requirements, aging infrastructure, and increasing demand for safer and more efficient inspection methods. Industry estimates suggest the U.S. above-ground storage tank inspection services market represents several hundred million dollars in annual spend, with long-term growth supported by mandatory inspection cycles across the energy, chemical, and industrial sectors.

Scalable, Technology-Enabled Inspection Model

Under the strategic collaboration, Aero Velocity will deploy its drone and robotics suite to capture high-resolution internal and external inspection-grade imagery, targeted robotic/UAV datasets where appropriate and photogrammetry/LiDAR-driven 3D digital twins to support HMT’s inspection operations. HMT will continue to lead inspection engineering, interpretation, reporting and certification, leveraging Aero Velocity’s datasets to enhance consistency and documentation.

The agreement is expected to advance the tank inspection industry by providing the following benefits:

• Lower costs – inspections may be performed faster, resulting in reduced out-of-service time;
• Higher quality – data collection designed to deliver repeatable, inspection-ready digital output; and
• Enhanced safety – use of drones to reduce the need for confined space entry by humans.

“Industrial inspection is entering a new era in which safety and data quality are rising, while costs and business disruptions are falling,” said Mark Hastings, Chief Executive Officer of Aero Velocity. “The U.S. above-ground tank inspection market is large, highly regulated and recurring by nature. We built our industrial solutions business to capture inspection-grade data quickly and repeatably at scale. Combined with HMT’s industry leadership, this collaboration modernizes how tanks and other critical assets are documented—improving safety and lowering costs while giving operators better information to plan maintenance and manage risk.”

“Asset owners are increasingly demanding inspection programs that reduce downtime, while improving data quality and safety,” commented Veronique Trudeau, Chief Executive Officer of HMT. “Working with Aero Velocity strengthens our ability to deliver exceptional results to our customers in the form of high-quality, consistent datasets at scale, while offering safer execution, reduced costs and more efficient inspection planning.”

Aero Velocity’s industrial solutions business combines UAV and robotic data capture with structured, inspection-ready deliverables designed to integrate into existing integrity management programs. Typical deliverables may include:

• High-resolution photo documentation sets with consistent labeling and coverage by asset zones;
• LiDAR/Photogrammetry-based 3D digital twins for navigation, measurement and visual review;
• Tagged points of interest (e.g., corrosion indicators, coating breakdown, deformation, anomalies) to support inspection follow-up;
• Secure data packaging and transfer aligned with client documentation requirements; and
• Repeatable capture templates designed to support trend analysis over time.

Aero Velocity and HMT have already begun working together to provide cost-effective, safe inspections, data capture, and analysis to HMT’s industrial clients in the energy sector. The two companies plan to jointly market their services to existing and new customers through established sales channels and joint participation in industry conferences and trade expos throughout the year.

Strategic Growth Implications

The collaboration aligns with Aero Velocity’s broader industrial growth strategy focused on expanding recurring inspection services revenue, leveraging technology to improve margin profile and scalability, deepening penetration within energy and infrastructure verticals and building long-term strategic relationships with industry leaders.

Mr. Hastings added, “We are excited about the opportunity to team with the clear industry leader in HMT. We expect this collaboration to be a cornerstone of our revenue growth in 2026 and beyond.”

About Aero Velocity

Aero Velocity, based in Cincinnati, OH, designs and manufactures American-made, NDAA-compliant UAVs and operates a robust Drones-as-a-Service (DaaS) business. Aero Velocity is also a founding member of AeroShield Alliance, a consortium of small-business leaders in AI and technology, UAVs, ISR and workforce solutions to deliver mission success from air to ground. Aero Velocity offers end-to-end UAV-powered solutions that enable organizations to assess, analyze and respond to real-world conditions with enhanced speed and safety.

Aero Velocity and BT Brands, Inc. (Nasdaq: BTBD) entered into a definitive merger agreement in September 2025 pursuant to which the combined company is expected to be renamed "Aero Velocity Inc." and trade on the Nasdaq Capital Market. Mr. Hastings will serve as CEO of the combined company. The transaction has been unanimously approved by the boards of directors of both companies. It is expected to close in early 2026, subject to stockholder approvals for each company and other customary closing conditions.

About HMT LLC

HMT, based in The Woodlands, TX, is a longstanding leader in aboveground storage tank technology and environmental solutions for energy storage, supporting operators with products and services that improve safety, compliance, and operational performance. Founded in 1978, HMT provides a broad set of capabilities, including design, construction, maintenance, inspection, and repair services for aboveground storage tanks, along with engineered solutions such as seals and roof systems designed to reduce emissions and optimize tank performance. HMT’s inspection organization supports industry-recognized standards and programs, and the company offers a wide range of specialty and advanced services spanning integrity planning, NDE, turnaround support, and related solutions.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the benefits of the transaction, the anticipated timing of the transaction, the products and services offered by Aero Velocity and the markets in which it operates, and Aero Velocity’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are based on management’s current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from the forward-looking statements in this press release, including the risks described in BT Brands’ SEC filings, which are available on the SEC’s website at www.sec.gov. These forward-looking statements speak only as of the date hereof, and Aero Velocity and BT Brands expressly disclaim any obligation to update or revise them except as required by law.

Participants in the Solicitation

BT Brands, Inc. (“BT Brands”) and Aero Velocity Inc. (“Aero Velocity”) and their respective directors and executive officers may be deemed participants in the solicitation of proxies from BT Brands’ stockholders in connection with the proposed transaction. Information regarding BT Brands’ directors and executive officers is available in BT Brands’ filings with the SEC, including its most recent Annual Report on Form 10-K and other reports. Additional information regarding the participants in the solicitation and their interests in the proposed transaction will be included in the registration statement on Form S-4 (including the proxy statement/prospectus) that BT Brands intends to file with the SEC. Investors and security holders may obtain copies of these documents, when available, free of charge at the SEC’s website at www.sec.gov.

No Offer or Solicitation

This communication is for informational purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities, or the solicitation of any vote or approval. Any solicitation will be made only through a proxy statement/prospectus and other documents filed with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260226667727/en/

Investor Relations & Media Contacts

BT Brands, Inc.

Kenneth Brimmer, Chief Financial Officer

kbrimmer@itsburgertime.com

612-414-5104

Aero Velocity Inc.

Mark Hastings, Chief Executive Officer

contact@aerovelocity.com

513-224-4439

HMT LLC:

Lesley Maxwell, Marketing Manager

Lesley.Maxfield@hmttank.com

281-681-7054

Source: BT Brands, Inc.