Lakeland, Fl. (January 7th 2015) - Coda Octopus Group Inc. (OTC: CDOC.PK). Coda Octopus Echoscope® Real-Time 3D sonar has been selected by Vale to produce dynamic underwater surveys during construction operations on the North Berth of Pier IV at the Ponta da Madeira Maritime Terminal in Sao Luis, Maranhao, Brazil.
Vale S.A. is a global mining company with headquarters in Brazil and operations in over 30 countries. They are leaders in the production of iron ore and the second largest producer of nickel. Vale is constantly investing in technologies to ensure safety and produce high performance results.
The Echoscope® and F180® have been used successfully by Baird & Associates S.A., Chile for more than 18 months under very challenging and turbid conditions to conduct dynamic surveys for Vale. During this period the various applications that the Echoscope® was used for included:
- Underwater subsea sonar imaging and mapping to monitor erosion in the terrain surrounding the piles supporting Pier IV and the morphology of the seabed attributable to the presence of vessels using the facility, particularly on Pier IV's South Berth; and
- Identification of obstacles that pose a risk to dredging operations; and
- Updating of the computer models used by Baird to account for actual temporal changes of scour and shoaling; and
- Use during construction operations on the pier's foundations (pile driving), which require constant monitoring to ensure compliance with project criteria.
Mathews Morais, Vale Engineer states: "[t]he Echoscope® allows us to visualize any change in the marine environment in real time. Consequently, it is possible to monitor precisely whether or not the project's structural and environmental parameters are being confirmed".
Blair Cunningham, our President of Technology, said, "[w]e are extremely pleased with the continued successes achieved during this lengthy project. The Echoscope® real time 3D sonar is again delivering real productivity and safety benefits to our customer. Marine businesses in many industries understand the advantages of the real time 3D imaging capabilities of the Echoscope® over other sonar equipment for dynamic surveys, and are time after time endorsing the productivity gains and safety improvements that can be realized by using the Echoscope®."
| Company Contact: | Blair Cunningham |
| President of Technology | |
| Email: info@codaoctopusgroup.com |
About Coda Octopus Group, Inc.
Originally founded in 1994 as Coda Technologies, the Coda Octopus Group is now headquartered in Lakeland, Florida. The Group consists of a Marine Products business in Florida and Edinburgh, Scotland, and engineering businesses in Salt Lake City, USA and Portland, England. Each of the Group companies are technology innovators with a particularly high level of sonar expertise. Coda Octopus Colmek has longstanding relationships in the USA with Prime Defense Contractors. The Group has facilities in Florida, Salt Lake City, the UK (Scotland and England), Australia and Norway. Alongside providing bespoke engineering and development for defense applications one of the Group's key products is the patented Coda Echoscope® - the first real time 3D sub-sea sonar which is used in oil and gas, underwater construction, search and rescue operations and port and harbor security and constructions. The top end software which runs on the Echoscope® (Underwater Survey Explorer) is also proprietary to Coda Octopus. The Echoscope® is also at the heart of the Underwater Inspection System which is being adopted for port and harbor security, and other applications globally. We have a number of products which are based on our real time 3D technology (Echoscope®, Underwater Inspection System and Dimension® (the latter being a forward looking real time sonar targeted at ROV applications)). With this patented revolutionizing sub-sea visualization capability, and the existing systems integration skills within Coda Octopus Colmek, Inc. and Coda Octopus Martech Ltd., the Coda Octopus Group believes it can become a world leading integrated sonar technology supplier. For further information, please visit http://www.codaoctopusgroup.com or contact Coda Octopus at info@codaoctopusgroup.com.
Safe Harbor Statement:
This press release contains certain forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as Coda Octopus Group plans, expects, should, believes, anticipates or words of similar import. Stockholders, potential investors and other readers are cautioned that these forward-looking statements are predictions based only on current information and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements. Certain of those risks and uncertainties are discussed in registration statement on Form SB-2 and its current filings which can be found at http://www.otcmarkets.com/stock/CDOC/filings and include, but are not limited to, market acceptance of Coda Octopus' planned products and their level of sales, access to the capital necessary to finance and grow the business, a highly competitive environment in the security field that includes numerous large and well established companies much larger than ours, and our ability successfully to deploy our technologies and products to meet the technical demands and market requirements of our customers. These forward-looking statements are only made as of the date of this press release and Coda Octopus Group does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.