First Order for Asset Tracking in Rail Industry (1447659)
21 Septiembre 2022 - 9:30AM
UK Regulatory
OTAQ Plc (OTAQ) First Order for Asset Tracking in Rail Industry
21-Sep-2022 / 15:30 GMT/BST Dissemination of a Regulatory
Announcement, transmitted by EQS Group. The issuer is solely
responsible for the content of this announcement.
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OTAQ plc
("OTAQ", or the "Company")
First order for asset tracking in rail industry
OTAQ, the marine technology products and solutions group for the
global aquaculture, offshore energy, and tracking industries,
announced on 20 September that it had been awarded an initial order
for the Company's tracking device. The Company is pleased to
confirm that, having worked closely with Track Tracker Ltd, a
specialist railway technology company, that it has received the
first order for its newly developed asset tracking device for use
in tracking assets in the rail industry.
The contract is for the supply of an initial batch of 40 devices
to Track Tracker Ltd who will monitor the location of railway
assets in use in busy, hazardous, and often complex on track and
trackside locations. The railway network is a highly safety
critical environment in which the OTAQ asset tracking devices, when
integrated into the Track Tracker system, are designed to report
precise locational accuracy ensuring that assets are not placed in
vulnerable locations.
The asset tracking devices will be supplied in the first week of
October, with further orders expected following successful on-site
operations.
The contract demonstrates the innovation and R&D expertise
gained through the Company's acquisition of ROS Technology and the
evolution of aligned applications, in this case working closely
with Track Tracker Limited. This follows the successful launch of
tracking technology products in the sporting events sector earlier
in the year.
Phil Newby, Chief Executive at OTAQ, commented:
"The UK rail industry is proud of its robust safety culture and
safety standards. This advancement in technology will serve to
enhance the industry's already exceptional safety record.
"The potential for the market in UK rail alone is believed to be
considerable and the company hopes the technology will be adopted
by many of the tier one contractors and joint venture projects. We
anticipate that we will continue to develop the tracker technology
and its applications to appeal to many further potential markets,
where precision location and geo-fencing is critical."
Enquiries:
OTAQ PLC Via Walbrook
Alex Hambro, Non-Executive Chairman
Phil Newby, Chief Executive Officer
Matt Enright, Chief Financial Officer
Dowgate Capital Ltd (Broker & Adviser) 020 3903 7715
David Poutney/James Serjeant
Nicholas Chambers/Russell Cook
Walbrook PR Ltd Tel: 020 7933 8780 or Otaq@walbrookpr.com
Tom Cooper/Nick Rome 0797 122 1972 or 07748 325 236
About OTAQ
OTAQ is a highly innovative marine technology company focused on
the marine aquaculture, offshore energy, renewables and
oceanographic research sectors. It operates in four worldwide
locations: Lancaster, Aberdeen and Ulverston in the UK and Puerto
Montt in Chile.
OTAQ's marine technology portfolio includes a market-leading
intelligent acoustic deterrent system, Sealfence, designed to
protect marine-based aquaculture sites from predation, with
multiple systems deployed in Scotland, Chile and Finland.
The Company's Oceansense leak detection systems have a global
reputation as the industry standard solution and have been deployed
successfully on hundreds of jobs. OTAQ's Dragonfish laser
measurement system is fast becoming recognised as one of the most
accurate underwater precision laser measurement systems available.
OTAQ also has significant experience in the design and manufacture
of underwater connectors, penetrators and communication
systems.
It seeks to develop and continuously improve its products using
its specialist mechanical, electronic and software engineers with
decades of experience in bringing underwater technology products to
market. Concurrently, OTAQ seeks to expand its technology portfolio
through acquisitive growth, with the aim of further expanding its
aquaculture and offshore product offering.
OTAQ is proud to be fully ISO 9001:2015 accredited through
DNV-GL. ISO 9001 is an internationally recognised quality
management system and demonstrates OTAQ's commitment to
consistency, continual improvement and customer satisfaction. The
certification also demonstrates its ability to consistently deliver
products and services to market whilst meeting statutory and
regulatory requirements by applying an effective quality management
system.
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ISIN: GB00BK6JQ137
Category Code: MSCL
TIDM: OTAQ
LEI Code: 213800CZGMYB5XTUXJ52
Sequence No.: 189693
EQS News ID: 1447659
End of Announcement EQS News Service
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(END) Dow Jones Newswires
September 21, 2022 10:30 ET (14:30 GMT)
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