SeaRobotics Teams with Private Equity Group

News Release SeaRobotics Corporation August 31, 2012

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In order to expand its core
business, SeaRobotics has teamed with Private Equity Group led by Ocean
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SeaRobotics Corporation has teamed with
a private equity group led by Ocean Investments Capital to fund the expansion of
the company’s core business, including the production of Unmanned Surface
Vessels (USVs), the commercialization of its Robotic Hull Cleaning systems, and
the development of new product lines in the ocean sciences and survey
markets.<o:p></o:p>
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SeaRobotics is a leader in the
development and production of USVs, ranging from small river survey systems to
10-m USVs capable of long-duration cruises in the open ocean.  "The partnership with the private equity
group gives SeaRobotics the capital to further refine our standard product line
of USVs, but more importantly, the opportunity to commercialize the development
projects we've had in process for years in the area of Ship Hull Cleaning,"
explained Don Darling, president of SeaRobotics.<o:p></o:p>
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SeaRobotics specializes in small, smart
vessels that are remotely or autonomously operated.  Its clients include major military and
commercial organizations, both U.S. and foreign.  SeaRobotics' seasoned marine survey
software interfaces with most data acquisition hardware, software, and sensing
systems to produce multi-spectral, DGPS-stamped data for survey, research, or
surveillance efforts.  Applications
for SeaRobotics vessels range from bathymetric and hydrographic surveys to
coastal, harbor, and riverine surveillance.  Many SeaRobotics vessels are small,
modular, and man-portable, allowing rapid deployment in remote areas or
deployment by larger vessels, and its command and control systems are
user-friendly and compact, allowing backpack mobilization.
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