Thalassa Holdings Ltd
(Reuters: THAL.L, Bloomberg: THAL:LN)
("Thalassa" or the "Company")
Grant Funded Project for Autonomous Robotics Limited
The Board of Thalassa is delighted to announce that its wholly-owned subsidiary Autonomous Robotics Ltd ("ARL") has been awarded a project (the "Project") that has been part-funded by OGTC and, separately, by two European energy companies which have a proven track record using ocean bottom seismic and are keen supporters of technology development. The Project, which has a value in the order of £400,000, is to develop a bespoke seismic sensor to fit in the company's autonomous underwater vehicle solution, Flying Node, and is expected to last 15 months.
The grant was awarded as part of OGTC's strategy to work with partners as they transition to a net zero objective and their Offshore Energy 4.0 programme is focused on enabling remotely controlled operations, empowered by data, robotics and autonomous systems. See https://youtu.be/Z8mVM4IS8Bk.
Duncan Soukup, Chairman of Thalassa, stated: "We are delighted that ARL has won this award and in particular the participation of the two European energy companies. We are continuing to make good progress in the development of our Flying Node solution which will address a number of opportunities in the Offshore Energy, Defence and Environmental markets".
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| Enquiries: |
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| Thalassa Holdings Ltd |
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| Duncan Soukup (Executive Chairman) | +33 (0)6 78 63 26 89 |
| WH Ireland Limited (Financial Adviser) | +44 (0)207 220 1650 |
| Chris Fielding, Managing Director, Corporate Finance |
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Note to Editors:
About Thalassa
Thalassa Holdings Ltd, incorporated and registered in the BVI, is a holding company with various interests across a number of industries.
About ARL
ARL is a UK company developing an autonomous underwater vehicle solution - Flying Nodes - to be deployed in swarms of up to 3,000 for assessing and measuring key data in depths of up to 3,000 metres. This ground breaking technology will dramatically reduce the cost of obtaining accurate data in the key sectors of environmental, offshore energy and defence. The Flying Node technology will disrupt these markets by offering commercial advantages in cost, time and higher data quality compared to existing technologies.
www.autonomousroboticsltd.com
About OGTC
OGTC develops technology to accelerate the transition of the oil and gas industry to an affordable net zero future - supporting the diversification of its supply chain to a position of technology leadership. OGTC continues to support the oil and gas industry, working with industry, Government and innovation partners to enable the transition to an affordable net zero North Sea.
www.ogtc.com
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