OTAQ secures approvals for location tracking tech
11 October 2021
OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, announces that it has secured all approvals necessary to supply its innovative, newly developed tracking device for a prestigious annual sporting event. This tracking technology was acquired as part of the ROS Technology acquisition in November 2020 and has been developed for use in OTAQ’s core aquaculture market as well as having wider applications in the field of competitive sports.
After successfully delivering a product prototype, achieving CE certification in August 2021 and passing customer trials and testing in September 2021, OTAQ has been approved to provide 610 devices for delivery before the end of the financial year. The device will provide real-time tracking of competitors within an accuracy of 60cm, supporting the health and safety of the competitors and aiding in event management. The order is a direct sale and will be an important addition to OTAQ’s revenues in the current financial year.
The award results from the initial customer contract agreed as part of the Company’s acquisition of ROS Technology, delivering on the pipeline of revenue-generating contracts being discussed at acquisition. The success of this project is expected to lead to further sporting event tracking opportunities in FY2023 with OTAQ additionally looking to advance this technology in its core aquaculture market.
Commenting on the order, Phil Newby, CEO of OTAQ, said: "We are very pleased to win this order, highlighting the success of our broader acquisition strategy and the innovative strength of our R&D team. The application of this technology in a highly demanding environment goes to prove the quality of the tracking solution.
"This win opens new and exciting opportunities in the competitive events space and is a valuable reference for future land and sea applications benefitting from accurate real-time location data.”