SRT Marine Technology has signed an agreement with an international distributor to distribute its AIS (automatic identification system) technology and has received an initial $1.1m order.
AIS is a navigation system used on board a ship that transmits a vessel’s location, speed and course to other vessels and authorities in the area.
Under the agreement, SRT Marine will supply the distributor with AIS Class B PCB modules for use in a range of AIS-enabled products. The initial order is to fulfil existing orders held by the distributor and is expected to be delivered within the next six months.
SRT has not disclosed the name of the multinational distributor, whose network SRT will use to access new AIS opportunities around the world.
SRT Marine has also agreed to support the distributor with an international marketing campaign targeting 500,000 commercial fishing vessels which are potential customers for AIS Class B.
Simon Tucker, Group Managing Director of SRT said, ‘The initial $1.1m order is extremely encouraging and reflects the distribution and brand power of this customer, as well as the rapidly growing global AIS market. We are looking forward to a long term relationship with this customer.’