Thalassa Holdings Ltd - British Virgin Islands-based investment holding company - Subsidiary Autonomous Robotics Ltd has won a project worth GBP400,000, for the development of a bespoke seismic sensor part funded by the Oil & Gas Technology Centre.
The sensor is to be installed in AR's underwater vehicle solution, known as Flying Nodes.
"We are delighted that ARL has won this award and in particular the participation of the two European energy companies. We are continuing to make good progress in the development of our Flying Node solution which will address a number of opportunities in the Offshore Energy, Defence and Environmental markets," said Chair Duncan Soukup.
Current stock price: 64.10 pence
Year-to-date change: up 5.1%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Thalassa (di) (THAL)