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20/11/18

Commerical Update

Ocean Infinity expands its offering as full potential of technology gains recognition.

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Ocean Infinity, the next generation seabed survey and ocean exploration company, is pleased to
provide an update on recent commercial developments. In response to the clear demand for true
technology driven solutions, Ocean Infinity has made a number of significant additional strategic
investments;

  • Today announces the signing of a three-year charter with two 12 month options with the Norwegian company Solstad (OTCMKTS: SLOFF), for a third modern fuel efficient multi-purpose vessel capable of both supporting AUV operations, as well as deep water search and recovery services. The charter is due to commence in Q3 2019, and will allow Ocean Infinity to serve its clients on a global basis across each of the three major oceans.
  • Acquired an additional five Hugin Autonomous Underwater Vehicles (AUV), making a total fleet of 15 which will be powered by Kraken Robotics (TSX-V: PNG) (OTCQB: KRKNF) latest generation long life battery technology.
  • Awarded a contract for the provision of survey services on MV Island Pride, Ocean Infinity’s second vessel, to Guardian Geomatics, the leading geophysical and hydrographic survey provider. Initially Guardian Geomatics will provide management, field personnel, QC, processing and deliverable reporting of data acquired by the fleet of AUVs operated from the Island Pride.

Oliver Plunkett, Ocean Infinity’s CEO, said:

 

“Following significant commercial success during our first full year of operations, we are looking forward to a busy 2019 delivering a number of projects for our growing client base.  We are delighted to be in the position that we can announce such a positive stream of news, driven solely by momentum in demand for our highly technology and IT systems based innovative approach.  The power of our platform has been repeatedly proven through 2018 most recently in Argentina, where we successfully locating the ARA San Juan in the most challenging of deep water undersea conditions.

 

There can be no doubt that the market craves real technological change in seabed survey and ocean exploration, and recognises that we are unique in truly delivering commercial solutions in response to that demand.  We are excited about the future as we continue to expand our position as the leading ocean technology company.

 

As we look to 2019, we are particularly pleased to be working with Guardian Geometrics, who have already shown themselves to be top quality operators with a proven record of delivering large scale projects.  We have chosen Guardian as our primary survey provider as they share a genuine and passionate belief in delivering outstanding value to our clients through smart thinking and use of technology.  The Guardian team complement perfectly our existing partnership with Kraken Robotics and allow us to bring to bear a wider group of like-minded commercially driven organisations for the greater benefit of our clients.”

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