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24 Sep 2008 07:00
SOFTWARE RADIO TECHNOLOGY PLC
("SRT" or the "Company")
US authorities approve AIS Class B
SRT, the AIM-listed the provider of professional digital radio communications and marine identification and tracking technology, is pleased to announce that its AIS Class B standard technology has been approved for use in the USA by the Federal Communications Commission ("FCC").
The approval enables the sale of AIS Class B products in the USA for the first time where 16 million of the world's estimated 26 million vessels are located. This represents a significant increase in SRT Marine Technology's addressable market for its AIS products.
In 2007 SRT Marine Technology launched the world's first low cost AIS Class B engine. This has been provided in various formats to a global customer base of established Marine Electronics companies and enabled them to create and sell their own final form AIS Class B products. These products can now be sold into the US market.
AIS enables the precise identification and tracking of vessels in all conditions. Following on from the successful International Maritime Organisation "IMO" SOLAS mandate in 2002 which required most vessels over 300GT to be fitted with AIS Class A transponders worldwide, the AIS Class B standard was created as an open international technology standard specifically for use on small and medium size commercial and leisure vessels.
The key market drivers for AIS has been maritime safety, homeland security and the all important 'gadget factor'.
Simon Tucker, SRT Group Managing Director said; "This is a major event for SRT Marine Technology and opens a significant new market in terms of size and general dynamics. Our AIS Class B solution is embedded into multiple proven products, therefore enabling us to immediately work with our partners to satisfy demand in the USA."
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Enquiries: |
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Software Radio Technology plc Simon Tucker Group Managing Director |
+44 (0)1761 409500 simon.tucker@softwarerad.com |
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Numis Securities Limited David Poutney, Corporate Broking Lee Aston, Nominated Adviser |
+44 (0) 207 260 1000 |
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Paul Quade CityRoad Communications |
+44 (0) 248 8010 +44 (0) 7947 186694 |
About SRT:
Founded in 1987 and quoted on AIM in 2005, SRT develops and provides core wireless technology and product solutions for homeland security communication and maritime identification and tracking applications. SRT's solutions enable its customers to enter these markets quickly and without risk with their own unique product proposition and leverage local sales channels. The Company has a worldwide customer base from which it earns a combination of support, license, royalty, module and product derived revenues.
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