Dutch Ministry of Infrastructure Agency (Rijkswaterstaat) Takes Delivery of Coda Octopus Underwater Inspection System (UIS(TM))
LAKELAND, FL -- (Marketwire) -- 04/17/12 -- Coda Octopus Group, Inc. (PINKSHEETS: CDOC) announced that the world-renowned survey department of Rijkswaterstaat in the Netherlands has just taken delivery of their first integrated Underwater Inspection System (UIS™) from Coda Octopus Products.
Rijkswaterstaat's survey department, whose remit covers mainly inshore rivers and canals, plans to put their new UIS™ to a diverse range of applications including lock and dam inspections, canal floor debris evaluation work and also minimum clearance investigations above shipwrecks sited in and around shipping channels.
The improved and more accurate imaging delivered by the Echoscope® hits every target with 20 or 30 more pings than any other multibeam sonar, and gives thousands of returns at hundreds of different bearing angles. This step change in subsea imaging has already enabled Rijkswaterstaat to find dangerous underwater obstacles that have previously been missed by conventional multibeam sonars.
Stephen Auld, Managing Director of Coda Octopus Products Limited, commented, "We are delighted to be working with Rijkswaterstaat with our UIS™ and Echoscope® products and hope that this is the first of many instances over the next years where our equipment and services will prove useful to them in undertaking their very crucial role in maintaining the safety of the waterways of the Netherlands."
About Coda Octopus Group, Inc.
Originally founded in 1994 as Coda Technologies, the Coda Octopus Group is now headquartered in Lakeland, Florida. The Group consists of a Marine Products business in Florida and Edinburgh, Scotland, and engineering businesses in Utah and Weymouth, England. Each of the Group companies are technology innovators with a particularly high level of sonar expertise. The Group has facilities in Florida, Utah, the UK and Norway.
Alongside providing custom engineering and development for defense applications, and oil and gas companies, one of the Group's key products is the Coda Echoscope® -- the first real time 3D sub-sea sonar. The Echoscope® is also at the heart of the Underwater Inspection System™ which is being adopted for homeland security, and other applications in ports around the world.
With this patented revolutionizing sub-sea visualization capability, and the existing systems integration skills within Colmek Systems Engineering, Inc and Martech Systems Engineering Ltd, the Coda Octopus Group believes they can become a world leading integrated sonar technology supplier.
Rijkswaterstaat is the executive arm of the Dutch Ministry of Infrastructure and the Environment. On behalf of the Minister and State Secretary, Rijkswaterstaat is responsible for the design, construction, management and maintenance of the main infrastructure facilities in the Netherlands.
Carrying out these tasks effectively and efficiently requires a national organization that is close to those who actually use the infrastructure. Ten regional departments (including 19 road districts and 16 water districts) and one project organization (Room for the River) put Rijkswaterstaat at the heart of Dutch society. Rijkswaterstaat also has five centers of excellence on which it has concentrated its specialized knowledge.
Safe Harbor Statement:
This press release contains certain forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as Coda Octopus Group plans, expects, should, believes, anticipates or words of similar import. Stockholders, potential investors and other readers are cautioned that these forward-looking statements are predictions based only on current information and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements. Certain of those risks and uncertainties are discussed in registration statement on Form SB-2 and include, but are not limited to, market acceptance of Coda Octopus' planned products and their level of sales, access to the capital necessary to finance and grow the business, a highly competitive environment in the security field that includes numerous large and well established companies much larger than ours, and our ability successfully to deploy our technologies and products to meet the technical demands and market requirements of our customers. These forward-looking statements are only made as of the date of this press release and Coda Octopus Group does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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Source: Coda Octopus Group, Inc.
Released April 17, 2012