Business
AIS Class B
AIS Class B.
About this update from Srt Marine Systems Plc
[{"type":"text","content":"\n \n SOFTWARE RADIO TECHNOLOGY plc \n\n Heads of agreement signed with two prospective customers \n\n for AIS Class B technology \n\nThe Directors of Software Radio Technology plc (\"SRT\") are pleased to announce\nthat SRT has signed heads of agreement with Xanatos Marine Ltd (\"Xanatos\"), a\nVancouver-based marine systems integrator specialising in AIS coastal\nsurveillance systems and Comar Systems Limited (\"Comar\"), a UK-based\nmanufacturer of AIS products.\n\nBoth companies are working on specific projects for which SRT's AIS technology\nwill provide the key enabling element. The heads of agreement pave the way for\ncloser co-operation and the finalising of formal contracts during the first\nquarter of 2006. The Directors believe the agreements could generate over US$2\nmillion in revenues for SRT during 2006.\n\nXanatos Agreement\n\nSRT's technology will be used within a project currently being tendered for by\nXanatos, providing surveillance of up to 7,000 vessels in the Americas as part\nof a comprehensive regional coastal homeland security project. Further projects\nare also being considered.\n\nPresident of Xanatos, Bill English said, \"SRT's AIS product was exactly what we\nhad been looking for in order to complete the system requirements for this\nproject. The attraction to us in working with SRT is their expertise in AIS\ntechnologies and the highly competitive cost of their product.\"\n\nComar Agreement\n\nComar is an established manufacturer and distributor of AIS transponders.\nComar's products are sold through a network of distributors and dealers and for\nuse in `national level' projects. SRT's AIS Class B technology will enable\nComar to develop a competitively priced AIS Class B product for sale into the\nworldwide market.\n\nManaging Director of Comar, Peter Cotton said, \"Comar has been a pioneer in the\ndevelopment of the AIS market, particularly for non-Solas vessels. We see\nmassive worldwide growth in this market as governments, vessel owners and users\nrespond to security and safety concerns. Our AIS Class B product which will be\nbased upon SRT's technology should enable us to secure a strong position in\nthis market.\"\n\nSRT's Commercial Director, Simon Tucker said, \"These agreements demonstrate\nSRT's lead in AIS technology following an intensive period of investment to\ndevelop the technology...