Stratech Systems establishes Stratech Sub-sea Technologies Pte. Ltd., to provide revolutionary sub-sea technologies
Mainboard listed, IT systems and technology developer, Stratech Systems Limited ("Stratech"), today announced the set up of a wholly-owned subsidiary in Singapore known as Stratech Sub-sea Technologies Pte. Ltd. ("Stratech Sub-sea"). Stratech Sub-sea has an initial authorised capital of S$ 1 million with an initial issued and paid-up share capital of S$ 2. Stratech Sub-sea’s mission is to become a dominant underwater sub-sea technology provider in the Asia Pacific region and the World through the establishment of a quality R&D team that will innovate and develop state-of-the-art sub-sea technologies and applications.
Stratech Sub-sea will conduct applied research, design and development activities in the area of Unmanned Underwater Vehicles (UUV) which include Remotely Operated Vehicles (ROV) and Autonomous Underwater Vehicles (AUV). ROVs are small tele-operated vehicles that are used for sub-sea operations and which are submerged in deep water. Sub-sea operations include data collection and delivery of services in the underwater environment, involving the use of remote sensing technologies, such as computer vision systems, and manipulator technologies, such as tele-robotic systems, to gather information and accomplish complex tasks.
Applications for UUVs range from remote observation to high-precision underwater surveys and manipulative tasks. Key market segments include offshore oil and gas production, and submarine telecommunications cable installation, both of which are multi-billion dollar industries. Other applications include seabed survey, floating oil and gas production support, sub-sea mining and oceanic research, as well as military and recreational applications. The market for UUVs and sub-sea operations is projected to grow to over US$ 1.2 billion (annually) by 2004.
Stratech will bring to Stratech Sub-sea its proven R&D capabilities and advanced technologies know-how in real-time 3-D (three-dimension) computer vision, intelligent transport systems and communications (both wired and wireless), as well as its emerging competence in robotics. Stratech Sub-sea is in the process of finalising a strategic partnership arrangement with a company that possesses extensive sub-sea industry experience. This partnership will bring to Stratech Sub-sea an extensive set of competencies in sub-sea technology development. When this is in place, Stratech Sub-sea will become a joint venture partnership, with Stratech holding majority of the new company shares.
Stratech Sub-sea is also in the process of establishing a collaborative R&D and manufacturing agreement with Thales GeoSolutions ("Thales", formerly known as Racal Survey). Through this agreement, Stratech Sub-sea expects to undertake joint technology contracts with Thales, and Thales is expected to provide manufacturing and testing services for both prototype and production systems.
Under the initial Safe-EX service, Buyers and Sellers can negotiate payment or shipment terms and re-negotiate options either offline (e.g. by fax, phone) or online (e.g. e-mail) before placing the transaction on Safe-EX to ensure total payment & fulfilment assurance. Safe-EX acts as the neutral and trusted third party that holds money paid by the Buyer in a trust account, until the funds are released to the Seller upon the safe delivery of the purchased goods to the Buyer. Thus, Safe-EX dramatically reduces the risks normally associated with online transactions and offline, international transactions – specifically that of the Buyer not paying or the Seller not fulfilling.
In the long term, Stratech expects Stratech Sub-sea’s activities and capabilities to be synergistic with Stratech’s plans in the areas of computer vision, intelligent transport systems, communications, medical robotics and Life Sciences.
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