Last checked at 28 Nov 2012 07:00
SOFTWARE RADIO TECHNOLOGY PLC
(AIM: SRT)
Initial Aids to Navigation agreements signed
Software Radio Technology plc ("SRT") is pleased to announce that its new AtoN product has received EU Type Approval and initial shipments to contracted customers have commenced.
The AtoN product was soft launched earlier this year and following a period of evaluation and negotiation, SRT has concluded its first agreements which permit certain customers to promote and sell SRT's AtoN products.
The initial shipments are low volume and will allow customers to demonstrate the product to their end customers and markets or commence the integration of the SRT AtoN module into their own product designs.
AtoN is a specific product type within the Automatic Identification System ("AIS") family which is designed for use on buoys and other shipping hazards and markers. It enables the electronic marking of these sites, as well as the broadcast to authorities and mariners of data derived from other sensors located at the site, including information on meteorological, sea and light conditions.
SRT's AtoN solution is the result of a two year development programme. The product has recently received formal Type Approval and has now entered the pre-production phase with volume commercial deliveries expected to commence during the first quarter of SRT's next financial year. The resulting device is a small and extremely power efficient AtoN product with prices ranging from $500 to $3,000 depending on the specific AtoN product. The addressable market is significant with many millions of buoys around the world, which SRT expects increasingly to be marked electronically as part of the continuing expansion of AIS networks.
Simon Tucker said; "AtoN is a complex product which must be certified to stringent international operational and performance standards, making it ideal for SRT given our radio technology development capabilities. Most notably the key challenges of reliability, size and power consumption have been met. We believe that this product will provide a significant new revenue stream for SRT and our customers. There are already a number of requirements in the market that our AtoN range meets and these have resulted in the agreements and the supply of the first units announced today. As AIS networks proliferate, we see demand for our AtoN product range growing commensurately."
Contacts: | |
Software Radio Technology plc | |
Simon Tucker, Chief Executive Officer | +44 (0) 1761 409 500 |
simon.tucker@softwarerad.com | |
WH Ireland Limited | |
Tim Feather | +44 (0) 20 7220 1666 |
Allerton Communications Limited | |
Peter Curtain | +44 (0) 203 137 2500 |
About SRT:
Software Radio Technology plc develops advanced radio communications technologies which are used to create enabling modules and OEM products. SRT Marine Technology Limited focuses on VHF and AIS technologies for use in navigation and homeland security identification and tracking applications. SRT Marine Technology provides its solutions in a variety of module and OEM product formats.