Valeport, a global leader in underwater measuring equipment, has achieved the internationally recognised Made In Britain accreditation for its range of innovative marine solutions that are developed, designed and manufactured at its UK headquarters in Totnes, Devon.
The independent, family-owned business, which employees more than 90 people from state-of-the art facilities on the River Dart, designs and supplies precision sensors and probes to a worldwide customer base that includes: environmental, energy, construction, dredging, engineering, scientific research and military sectors.
The Made In Britain accolade is part of an initiative to support and promote British manufacturing. Valeport will now use the Made in Britain registered mark of quality on their products, the mark is recognised as the ultimate stamp of British provenance and seen as an international seal of excellence domestically and worldwide.
Matt Quartley, Valeport managing director commented: “The Made In Britain status promotes our passion for British manufacturing, our commitment to quality and maintaining production here in the UK. We also believe it highlights the quality of our products and expertise gained from over 50 years of British manufacturing expertise.”
Valeport retains all aspects of developing and manufacturing processes in-house, an approach which means they have total control over every stage of the manufacturing process and can guarantee the quality and consistency of their products. The company’s riverside premises house all the facilities for designing, CNC machining, environmental testing, assembly, calibration and servicing for all Valeport products. With a global network of 72 distributors in over 54 countries, Valeport exports almost 80% of its outputs.
Valeport joins a select group of manufacturers who are permitted to use the Made In Britain status and coveted quality mark.
Converted energy from waves powering a Saab Seaeye Sabertooth autonomous vehicle operating in seabed residency mode is a major renewable energy breakthrough.
Significant savings in support vessel costs and CO2 emissions will result.
Pioneering the concept is C-Power’s SeaRAY Autonomous Offshore Power System (AOPS), which provides offshore power, energy storage, and real-time data communications for resident marine systems.
Trials of the Sabertooth residency concept will take place at the U.S. Navy’s Wave Energy Test Site (WETS) in Hawaii and last 20 days. The SeaRAY AOPS and other static assets will remain deployed for six months.
The Sabertooth, owned by Hibbard Inshore, and operated on behalf of C-Power, will repeatedly patrol pre-programmed areas to collect data, before returning to an underwater docking station for cloud upload and battery recharge.
Included in the studies will be seabed analysis, fish densities, infrastructure monitoring and water-column data gathering.
Many sectors will benefit
Many underwater sectors are seen to benefit from this innovative emission-free concept, including marine science and research, defence and security, aquaculture, and offshore energy.
The trials come in partnership with the U.S. Department of Energy’s Water Power Technologies Office, together with the National Renewable Energy Laboratory and the U.S. Navy.
In particular, testing of the SeaRAY AOPS is included in the Navy’s Coastal Trident 2021 program, which is the largest port and maritime security undertaking in the nation.
For the Navy, the conventional difficulty in conducting underwater infrastructure surveys leaves critical infrastructure vulnerable to sabotage and intelligence gathering threats in this hidden environment. Frequently refreshed high-definition sensor data can alert remote operators to possible intruder activity.
Operating the Sabertooth will demonstrate that subsea residence enables a sustained presence to secure underwater port infrastructure and its ability to support efforts to protect shipping against underwater explosive devices.
For the trials, the Sabertooth will be equipped with an R2Sonic Sonic 2024 multibeam echosounder, 2G Robotics ULS-500 PRO Laser Scanner and camera, and the ASL AZFP 70,120 & 200 kHz Acoustic Zooplankton Fish Profiler.
Uniquely Hovering
The success of the multi-role, 3000m rated Saab Seaeye Sabertooth comes from it being the world’s only roaming and hovering system that can operate in both fully autonomous (AUV) and tethered (ROV) modes, enabling fully flexible dual operations from a single platform.
Hibbard will deploy the Sabertooth for other significant projects this year including research at Lake Michigan by the National Oceanic and Atmospheric Administration (NOAA) concerning the invasive zebra mussel that adversely impacts the U.S. Great Lakes Region at a cost of $500million a year.
OceanWise Ltd. has announced two brand new partnerships this month seeing the addition of Avenca Limited and Neotek to their Licenced Partnership programme.
Avenca Limited, a UK company based in Salisbury, will be integrating and reselling the extensive marine mapping range from OceanWise to their government, commercial and military customers around the world. Avenca have developed a range of systems and services for marine data analysis and wish to integrate OceanWise’s Marine Mapping Data Services like the Electronic Navigation Charts Web Map Service, into their products.
For more information please view their website at: www.avenca.co.uk.
Neotek, who supply end-users with high-tech instrumentations in the field of marine environmental assessment providing “best quality solutions for successful operations at sea” are based in Caudan France. Neotek will be reselling the OceanWise range of environmental monitoring products including OceanWise’s data platform Port-Log, which is widely used by a majority of ports in the UK and increasingly across the world. The system which provides a quick and easy storage and publishing solution for environmental data is consistently being developed to cater for the changing needs of this important sector.
For more details please view their website at: neotek-web.com
UK based OceanWise Ltd. Deliver their portfolio of speciality products and services that cater for the unique requirements of the marine industry directly and through their network of licenced partners around the world. They are looking forward to developing their relationship with both new partners.
Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean Company, is pleased to announce that it has acquired 13 Robotics Ltda of Brazil (“13R”). The 13R team, with offices in Rio de Janeiro and Salvador, Brazil, consists of software developers and engineers who have significant experience in underwater robotics and autonomous systems for the energy markets. Since inception in 2013, 13R have completed projects for a number of global energy companies, with a focus on autonomous underwater inspection in offshore oil and gas as well as renewable energy.
Commenting on the acquisition, Karl Kenny, Kraken President and CEO said, “Kraken has known and worked with members of the 13R team since 2016. We look forward to utilizing their expertise in robotic system development, leveraging their relationships with leading international energy companies, and to them providing a base of opportunity for Robotics/Data as a Service capabilities in South America. As the offshore energy markets continue to focus on reduction of costs and reduction of greenhouse gases through the use of resident autonomous systems, Kraken and the 13R team will be well positioned to support the need for clean, efficient and cost-effective technology.”
13R, which will operate as Kraken Robotics Brasil Ltda., is highly complementary to Kraken:
13R’s substantial experience in Artificial Intelligence and Autonomy will both complement and augment Kraken’s existing offerings, reducing time to market for new applications of Kraken’s SeaVision underwater 3D laser scanner.
13R has a demonstrated track-record in subsea autonomy for seabed resident AUVs, including dynamic path planning, obstacle detection and avoidance, underwater docking, and adaptive failure-tolerant control systems, all of which will directly benefit Kraken’s ThunderFish XL Seabed Resident AUV program.
13R’s continued work in resident systems with multi-modal inspection capabilities will support Kraken’s ongoing applications in digital twinning of critical subsea assets.
Furthermore, Kraken’s acquisition of 13R provides technical and commercial on-the-ground access to the Brazilian offshore oil and gas industry, opening the door to further opportunities in that major market.
Consideration for the 13R acquisition was US$220,000 cash.
Offshore hydrographic survey specialist joins forces with subsea glider and ocean monitoring expert team
Hydrographic marine survey company Nicola Offshore GmbH and Cyprus Subsea Consulting and Services C.S.C.S. Ltd (C.S.C.S.) have signed a commercial partnership agreement with the goal of sharing knowledge and resources to unlock new efficiencies for acquiring marine data using multibeam echosounders, subsea gliders and ocean monitoring instruments.
Opened in March 2021 as a sister company to Nicola Engineering, a survey company operating since the seventies, Nicola Offshore will bring technical expertise on the more specialist aspects of marine data acquisition such as object and unexploded ordinance (UXO) search to the partnership. Established in 2012, Cyprus Subsea Consulting and Services C.S.C.S. Ltd will contribute its expertise in subsea glider surveys and oceanographic sensors for marine monitoring, as well as its experience in automating aspects of marine environmental surveying.
Nicola Offshore Explorer
“The partnership helps to extend the reach of both companies, opening more opportunities to support clients in Northern and Southern Europe,” said Daniel Esser, Managing Director, Nicola Offshore. “While the commercial potential is exciting, we’re also keen to extend our service platform with glider capabilities and expertise, and be part of developing new methodologies and processes together with C.S.C.S. that will enable us to expedite and secure the precision of the data we acquire on behalf of clients.”
“Nicola Offshore has demonstrated a unique focus on delivering high quality marine data for demanding ad-hoc campaigns, which we feel strongly complements our existing services and technology portfolio,” said Cyprus Subsea Managing Director, Dr. Daniel Hayes. “We’re looking forward to developing the capabilities, technology and network of C.S.C.S. and Nicola Offshore, while at the same time providing new and extended capabilities to our established client base.”
Sonardyne’s Ranger 2 Ultra-Short BaseLine (USBL) underwater tracking technology is to support to critical oceanographic work from the research vessel Atlantis, including science expeditions in the human occupied submersible Alvin. The most updated version of Ranger 2 replaces the vessel’s existing Ranger 1 system, and provides greater precision, speed and range tracking and.
Additional upgrades include a new 10,000 m rated AvTrak tracking and telemetry instrument for Alvin, needed to support the increased depth rating of the submersible, from 4,500 m to 6,500 m. The Ranger 2 system will support the Atlantis’ work by enabling science teams to precisely position submersibles and other underwater platforms deployed from vessel, as well as tracking instruments, towed sleds and dredges, in all water depths.
The team on the Atlantis will also be able to use Ranger 2 to communicate with scientists onboard the Alvin via the AvTrak, which can also act as a relocation beacon for the Alvin, as well as remotely operated vehicles (ROVs) deployed by the Atlantis. The Atlantis, which is owned by the US Office of Naval Research and operated by Woods Hole Oceanographic Institution for the benefit of the US oceanographic community, is also upgrading its through-hull transceiver from a High Performance Transceiver (HPT) 5000 to a Gyro USBL 7000, complete with a new gate valve, flanges and sea chest.
Partnership will offer leading offshore geotechnical services across the world
Marine robotics company Ocean Infinity and geotechnical drilling experts Gregg Drilling, a subsidiary of Alaska Native Corporation Sealaska, have formed a Joint Venture (JV) to provide geotechnical services to offshore markets in traditional and renewable energy field developments and cables.
The JV combines the expertise and assets of the two companies and will see Gregg Drilling mobilise its seabed drills onto the Armada fleet of uncrewed and optionally crewed vessels ranging from 21m-78m in size.
Pairing Gregg’s deep-water geotechnical drilling capability with Ocean Infinity’s Armada geophysical fleet, and recently enhanced data analytics capabilities following the acquisition of MMT, will expand capabilities for both companies to complete offshore investigations globally. The JV will enable more sustainable underwater development, including geotechnical data collection, needed to support offshore wind anchor and foundation design.
Oliver Plunkett, Ocean Infinity’s CEO, said:
“Partnering with Gregg Drilling to further expand the capabilities of our Armada fleet of vessels will enable us to provide full-service solutions to customers spanning geophysical and geotechnical tasks.”
“Gregg Drilling and its parent company Sealaska share our vision for reducing the environmental impact of offshore activities. This agreement marks another step on our journey to transform marine operations, and we are excited to be doing so in partnership with another innovative team that shares our passion for sustainability.”
John Gregg, President of Gregg Drilling, said:
“We are pleased to partner with Ocean Infinity to provide an industry-leading geotechnical offering. Ocean Infinity’s Armada fleet has revolutionised the outlook for marine operations through its uncrewed capability and its unmatched focus on sustainability. We look forward to working together to best use the expertise of both companies.”
aae technologies, an award-winning manufacturer of specialist subsea equipment, has refreshed its brand and website as it looks to accelerate business growth in the UK and overseas.
Complementing the launch of its groundbreaking Easytrak Pyxis INS + USBL tracking system, the rebrand also underpins recent company expansion and the formation of aae’s dedicated geophysics and renewables divisions.
Originally founded as applied acoustics in 1989, aae technologies was launched in 2016 as a parent company for applied acoustics and sister company, modulus technology. Through its two sub-brands, the company designs and develops innovative hydro-acoustic solutions for customers in the marine, defence, oil & gas and renewable energy industries worldwide.
applied acoustics has twice won the Queen’s Award for Enterprise in the International Trade category, in recognition of its technical innovation and export growth.
Adam Darling, chairman of aae technologies, first launched the company from a goat shed in his back garden. A talented engineer himself, he now heads a team whose products are used extensively around the globe and in ways that genuinely transform the world for the better – whether it’s playing a vital role in the development of offshore renewable energy installations, keeping marine traffic safe from underwater threats and hazards, or helping the scientific community gain a better understanding of the oceans.
The company’s rebrand encompasses contemporary new logos for aae technologies and its two sub-brands – applied acoustics and modulus technology – as well as a new website that incorporates the refreshed branding and effectively consolidates the three companies.
Adam Darling, chairman of aae technologies
“Lockdown gave us an opportunity to refocus the business and find even better ways of connecting with our customers,” said Adam Darling, chairman of aae technologies. “Our new website reflects a changing industry, and indeed a changing aae technologies, as we continue to develop new products and enhance our expertise in a number of areas, not least geophysics and renewables, which are vital industries both now and in the future.”
applied acoustics’ products range from sophisticated underwater positioning and tracking systems to acoustic equipment for sub-bottom profiling and geophysical surveys. modulus technology provides technical support for applied acoustics products, as well as custom engineering services for customers in need of bespoke solutions for one-off projects.
Integrated subsea technology and services provider Ashtead Technology has signed a deal with Zetechtics to offer customers a range of new ROV tooling technologies.
The agreement will see an array of torque tools, control systems and associated peripherals from the subsea control systems specialist made available to customers through Ashtead Technology’s nine customer service hubs.
David Mair, Ashtead Technology’s Business Development Director said: “We are continually developing and expanding our capability to meet the diverse needs of our customers around the world, who operate in all areas of the global energy industry. These new technologies offer improved performance, reliability and efficiency, as well as a greater level of user-friendliness.
“Zetechtics has 27 years of experience for us to draw on and this collaboration is set to add undeniable value to our customers operations.”
The deal gives both organisations the scope to add further specialist equipment based on demand.
Alan Duncan, Commercial Director of Zetechtics, said: “Customers prefer to use modern, easily-supported equipment, with the type of technical features they would have access to if buying new.
“We are excited to collaborate with Ashtead Technology and by introducing a wide range of new equipment to the market in this way will enable their customers to unlock the potential of our market-leading solutions.”
Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean Company, is pleased to announce that it has entered into a non-binding letter of intent (the “LOI”) dated April 8, 2021 in connection with the proposed acquisition of PanGeo Subsea Inc. (“PanGeo”) from Cahill Innovation Inc, a member of the Cahill Group of Companies, and Argentum Asset Management AS. Moya Cahill, a director of Kraken, is a shareholder of Cahill Innovation Inc, and she resigned as a director of Kraken prior to the approval and execution of the LOI in order to ensure proper governance and review of the transaction by a fully arm’s length board.
PanGeo is a private Canadian services company specializing in high resolution 3D acoustic imaging solutions for the sub-seabed. This proposed acquisition would accelerate Kraken’s transformation to a Robotics/Data as a Service model by increasing recurring service revenue and providing increased exposure to the non-defense market, including the offshore renewable energy market. Following completion of the proposed acquisition, Kraken would offer a holistic solution of world-leading technologies and services in subsea acoustic and optical imaging: Kraken’s suite of ultra-high resolution seabed 3D acoustic imaging sensors, autonomous robotics, and optical laser scanning paired with PanGeo’s suite of leading-edge sub-seabed high resolution 3D acoustic imaging systems.
Acquisition Rationale
The proposed acquisition would create a Canadian-headquartered global leader in ocean technology in the areas of subsea and sub-seabed imaging. If completed, Kraken would benefit from a number of synergies and advantages including:
PanGeo would provide a broader foundation for Kraken to build a significant recurring revenue stream from a provision of reduced carbon emissions survey services.
The acquisition will result in a more balanced blend of revenue (both defense and commercial) and product mix (product sales and services).
PanGeo has an attractive diversified customer base consisting of leading companies in offshore renewables and offshore energy. Most of PanGeo’s offshore survey revenue is generated in Europe, with new opportunities emerging in the U.S. and Asia.
PanGeo’s geotechnical and geophysical expertise, operational excellence and service delivery capabilities for the marine survey market are complementary to Kraken’s newly emerging service business. Kraken’s service capabilities consist of ultra-high-definition subsea imaging technologies that have been proven and well received in the defense market but are just as applicable to the commercial subsea survey and inspection markets, albeit delivered as a service (rather than a product sale).
PanGeo’s technology augments Kraken’s to provide a more complete range of subsea surveying services. PanGeo’s Synthetic Aperture Sonar 3D seabed penetrating technology, which allows customers to understand the characteristics of the sub-seabed, will pair well with Kraken’s high ultra-high-definition seabed imaging technologies. This is essential to understanding the sub-seabed characteristics for infrastructure builds as well as maintenance and repair (buried pipelines, buried cables, buried UXOs, offshore wind turbine and offshore oil platform construction).
Kraken will be able to take advantage of synergies to advance the development of technology on both platforms more quickly and more efficiently. The combined platforms will have a strong R&D feedback loop as new technologies are deployed, tested, and iterated in Kraken’s services business.
Kraken does not expect significant integration risk as PanGeo’s management team is also headquartered, and has significant operations, in Newfoundland and Nova Scotia.
Kraken CEO Comments
Karl Kenny, Kraken President and CEO said:
Commenting on the LOI, “Since plans for our OceanVision project started in 2018, we have been preparing our industry leading Synthetic Aperture Sonar and 3D underwater laser scanning technologies to be used in a Robotics/Data as a Service (RDaaS) business model as opposed to a product only strategy. While customers in the defense industry generally purchase this technology, in the commercial market customers are more focused on the provision of services by capable third-party companies. We believe that this potential acquisition would complement Kraken’s existing products and services with a stronger base of recurring revenues. As in the past, we expect PanGeo and Kraken will continue to work with many offshore service companies that prime these jobs and integrate specific scopes of work from various sub-contractors.”
PanGeo CEO Comments
Moya Cahill, PanGeo’s co-founder and CEO noted:
“Notwithstanding that there is due diligence and negotiation for Kraken to complete this acquisition, this opportunity is very exciting for PanGeo as Kraken and PanGeo are world leaders in seabed and sub-seabed technology applications, respectively. Assuming closing of this transaction, I am confident that ocean industry customers will benefit from a broader suite of offerings from sensors, platforms, and service delivery solutions. PanGeo has a more than 10-year commercial track record of providing 3D acoustic imaging solutions to offshore renewable energy, offshore energy, and defense customers.”
Proposed Transaction Details
Although the LOI remains non-binding, it is anticipated that the purchase price will be between $18-$24 million, based on PanGeo’s performance over the 2-year period following the acquisition, to be paid by way of cash and stock over that period. Based on initial information provided by the target, the unaudited consolidated assets at December 31, 2020, of the business that Kraken is proposing to acquire were $11.7 million and net debt was $0.4 million. Unaudited trailing 12-month revenues for the period ended December 31, 2020, were $9.0 million and the corresponding EBITDA was a loss of $0.5 million. This was down from comparable 2019 revenues of $10.8 million and EBITDA of $2.3 million. The year-over-year decline was largely due to the impact of COVID on customer activity.
Completion of the acquisition is subject to, among other matters, the completion of due diligence, the negotiation of a definitive agreement providing for the transaction, and satisfaction of certain other conditions to be negotiated therein. Given the materiality to Kraken, it is not anticipated that any Kraken shareholder approval would be required to complete the proposed acquisition. Pursuant to the LOI, the parties have agreed to a 60-day exclusivity period during which they will complete their due diligence and negotiate exclusively with each other with a view to settling the terms of the transaction and the form of definitive agreement. Further details will be provided upon successful completion of the due diligence period and the signing of a definitive agreement. The LOI may be terminated by either party if a definitive agreement is not entered into by May 31, 2021. In addition to other conditions, the proposed acquisition remains subject to the approval of the TSX Venture Exchange.
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