NEW YORK, June 7, 2005 (PRIMEZONE) -- Coda Octopus Group, Inc (Pink Sheets:CDOC), an international leader in marine technology solutions, today announced a further sale of Octopus equipment to the Royal Swedish Navy.
Following deliveries in February and November 2004, the Swedish Navy recently completed the purchase of a number of Octopus 460PX portable systems, which together with software, field support kits, training and accessories, are valued in excess of $270,000. The sidescan sonar systems comprise an integrated Octopus 460P portable splash-proof acquisition instrument and a C-MAX CM2 digital dual frequency towfish (lightweight device towed behind a vessel which produces sonar images of the seabed surface). Extremely portable and rugged, the system is ideally suited to operations from very small vessels such as rigid inflatable boats. Planned applications by the Swedish Navy include mine counter measures.
Already used by the Royal Navy in the United Kingdom, Octopus 460PX systems record and display high resolution digital sidescan sonar seabed images at 325kHz or 780kHz for optimum image quality at ranges of up to 150m. The systems are complemented by Octopus 461 mosaicing software, which provides high speed image and target analysis. Combined with an optional battery pack, the 460PX is capable of operating for up to 8 hours. It is extremely well suited to rapid reconnaissance operations on "vessels of opportunity" and has already seen active service within the UK Ministry of Defence.
About Coda Octopus
Founded in 1994 as Coda Technologies, recently public Coda Octopus is recognized internationally as a leading developer of underwater technologies for imaging, mapping, defense and survey applications. Based in New York, with R&D and manufacturing facilities in the UK and Norway, its key products include Octopus precision motion sensors, Coda and Octopus marine software and systems, Octopus thermal printers and the unique Coda Echoscope -- the first real-time 3D subsea sonar -- with particular applications in the homeland security and construction markets. With this patented new product, which revolutionizes subsea visualization, Coda Octopus believes it is well on its way to becoming the world's leading sonar technology company, with the further goal of becoming the top company in the broader $500 million international marine products market.
Additional information about Coda Octopus and its products is available on its website website at http://www.codaoctopus.com
Safe Harbor Statement: Except for historical information, the matters set forth herein, which are forward-looking statements, involve certain risks and uncertainties that could cause actual results to differ. Potential risks and uncertainties include, but are not limited to, market acceptance of Coda Octopus' planned products and their level of sales, the competitive environment and successful technical and economic implementation.