Thalassa Holdings Ltd
(Reuters: THAL.L, Bloomberg: THAL:LN)
("Thalassa", "THAL" or the "Company")
Successful completion of autonomous flying node sea trials
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
The board of Thalassa is pleased to report that the autonomous sea trials recently conducted by its subsidiary Autonomous Robotics Ltd (ARL) in Plymouth harbour were successful.
Details are provided in ARL's press release repeated below:
"The board of directors of Autonomous Robotics Ltd (ARL) is pleased to report successful autonomous sea trials of a prototype 'flying node' autonomous underwater vehicle (AUV) at a location offshore Plymouth harbour. The trials were performed under the supervision of Arran Holloway (ARL's Engineering Director) and are a major step forward in the proof of concept prototype development phase. The trial successfully demonstrated the AUV autonomous navigation and seabed landing and take-off operation".
"Arran Holloway said, "The AUV demonstrated exceptionally stable flight and accurate navigation during the trial and completed all tests successfully. This is a major milestone in the development of the flying node concept and demonstrates the viability of some of the novel features of the system".
"ARL is a UK marine robotics company developing a game-changing, patented, autonomous underwater platform for ocean floor-based sensing - the flying nodes system. Defence and offshore energy companies are seeking cost-efficient solutions to replace manually controlled deployment of large sensor grids on the ocean floor. ARL will offer a swarm of novel AUVs carrying industry-proven sensor packages which are autonomously deployed, positioned on the seabed and recovered and creates a new market application for underwater drones."
Duncan Soukup, chairman of Thalassa said: "The autonomous sea trials were identified as a key milestone in the development of the flying node AUV. The success of these trials is testament to the high level of professionalism and dedication of the ARL technical team, led by Arran Holloway."
Thalassa Holdings Ltd
Duncan Soukup, Chairman +33 (0)6 78 63 26 89
WH Ireland Limited (Nominated Adviser and Broker)
Chris Fielding, Managing Director, Corporate Finance +44 (0)207 220 1650
www.thalassaholdingsltd.com
Note to Editors:
Thalassa Holdings Ltd, incorporated and registered in the BVI and quoted on AIM, is a holding company with various interests across a number of industries.
