Ocean Infinity - Experts & Thought Leaders

Ocean Infinity has reached a significant milestone with the delivery of the final vessel in its fourteen-vessel Armada fleet - closing a chapter that began in 2020 with a bold ambition to redefine offshore operations. Over the past five years, Ocean Infinity has built and deployed a fleet of cutting-edge lean crewed vessels unlike anything the industry has seen before. This latest delivery completes the 86-metre class of Armada ships, following the successful introduction of the 78-metre class in 2023. Twelve vessels are now in live operation, with the remaining two following close behind, pushing the boundaries of robotics and technology at sea. Innovative technology to transform operations This achievement reflects Ocean Infinity’s purpose: using innovative technology to transform operations at sea to enable people and the planet to thrive. The vessels are a huge part of what makes that transformation possible - inherently smaller than conventional counterparts and integrated into Ocean Infinity’s onshore control centre for live monitoring and remote control of robotic sub-systems. The Armada fleet is already delivering safer, more sustainable solutions - reducing the number of people offshore, cutting fuel consumption, and creating more efficient ways of working. Advanced underwater robotic systems Each vessel is mobilised with a tailored suite of equipment, including advanced underwater robotic systems, enabling a wide range of data collection tasks. From geophysical surveys to geotechnical investigations, these capabilities support complex offshore projects globally from the United States to Europe and the Asia Pacific, delivering high quality data and driving innovation in subsea operations. Complete and onshore control centres "Completing the Armada 86-metre class marks an extraordinary moment – five years ago we said we’d build a fleet of fourteen ships, designed unconventionally because speed to capability mattered – and we’ve done it, despite the many challenges along the way. What started out as a bold ambition is now a reality." "These vessels are not a concept or an R&D project - they are operating today, transforming the way offshore work is done by focusing on software and technology first. We owe a huge debt of thanks to everyone involved!” said Oliver Plunkett, Chief Executive Officer. With the fleet complete and onshore control centres becoming increasingly capable, Ocean Infinity is unlocking new possibilities for the future of offshore operations - continuing to lead the way in robotics and technology.

Advanced technology and marine robotics company Ocean Infinity has successfully launched its innovative NeedleFish Uncrewed Surface Vessel (USV) at an official event with the Kuwaiti Coast Guard (KCG). Initiated to be a component of its new national integrated maritime surveillance system being delivered by SRT Marine Systems, the NeedleFish by Ocean Infinity is custom equipped with an array of specialist maritime surveillance sensor systems and leverages the company’s world-pioneering software, advanced robotics, and marine intelligence technology to equip the Kuwaiti Coast Guard with a new class of unmanned patrol, surveillance, mapping and surveying capability for its 11,000 km² of territorial waters, all controlled from KCG’s new purpose-built onshore Command Centres and fully integrated within their new SRT C5iSR maritime surveillance system. Line of sight marine surveillance Ocean Infinity’s technology enables the remote and autonomous operation of the largest fleet of USVs and UUVs Ocean Infinity has operated USVs for client projects since 2019. With deep operational experience from work in some of the most challenging maritime environments, Ocean Infinity’s technology enables the remote and autonomous operation of the largest fleet of USVs and Uncrewed Underwater Vehicles (UUVs) currently in active service.  This, combined with the company’s understanding of data capture and transfer at sea, has led to this ultimate platform tailored for the client’s specific need in the demanding conditions of Kuwait, delivering ultra-high-performance robotics for beyond line of sight marine surveillance with live surveillance streaming fully integrated into their new MDA System.    NeedleFish USV rollout This week, one of the KCG fleet of bespoke 14-metre, dual-hull NeedleFish USVs completed live demonstration exercises in open water in a special demonstration for His Excellency Sheikh Fahad Yousef Saud Al-Sabah, First Deputy Prime Minister and Acting Minister of Interior and Commodore Sheikh Mubarak, overall Commander of the Kuwait Coast Guard.  Oliver Plunkett, CEO of Ocean Infinity, said: “We are excited to see our NeedleFish USV rollout continue this week. This programme is another significant milestone for Ocean Infinity as we employ our deep operational experience and proven technology to support clients in new and more complex markets at a time when these capabilities are more relevant than ever.”

SRT Marine Systems plc (SRT), a global provider of maritime domain awareness systems and technologies for security, safety, and environmental protection, is pleased to announce that it has agreed a substantial investment and short-term finance bridge support package from existing shareholder Ocean Infinity (OI), worth approximately £31 million.   Finance support package This new financing allows SRT to immediately satisfy the need for the substantial performance bond required under the terms of the recently announced $213 million contract, which is expected to be signed and commenced on Thursday, October 31st, 2024. It also provides a foundation to support the simultaneous proceeding of three other contracts worth an additional $210 million during the next quarter. All four contracts will have parallel implementation periods over the next two years, with follow-on support phases of up to 10 years. Components of the package The finance package has multiple interlinking components as defined below: SRT will issue up to 21.5 million new ordinary shares at an issue price of 35p per share by way of a placing which is entirely underwritten by OI, raising gross proceeds of £7.5 million. Existing shareholders will be given the right to acquire up to a maximum of 7.5 million shares in aggregate, with OI reserving a minimum of 14 million shares. Subject to shareholder approval, the Company has agreed to complete the fundraising at the earliest opportunity in November. A further announcement will be made in due course. OI has provided a $21.4 million guarantee to SRT to enable SRT to issue a contract performance bond of similar value. The OI guarantee is initially provided as a cash loan of $21.4 million with an interest rate of 0.75% per month. The loan is expected to be repaid by SRT with a period of approximately one month and replaced with a bank guarantee on OI's behalf. The OI bank guarantee itself will then be replaced within the next 6 months using a combination of SRT's own resources and UKEF export guarantee programme. In return for providing this guarantee, OI is being granted 20,000,000 warrants at a strike price of 35p, with an exercise period of 3 years, which when exercised will inject a further £7 million equity for SRT. In the event that SRT does not replace the OI guarantee within 8 months, a further 4 million warrants per month will be issued with a strike price equal to a 15% discount on the share price at the relevant time. Oliver Plunkett, Board Member and CEO of OI, will join SRT's board as a Non-Executive Director, following the completion of the placing. Transformational leap Simon Tucker, CEO of SRT Marine Systems, commented, "This financing package enables SRT to make a truly transformational commercial leap and very significantly accelerate the financial performance of the Company through the simultaneous delivery of over $400 million of contracts and with capacity for more." Simon Tucker adds, "Besides the obvious product and technology synergies between OI and SRT in the MDA space, we are fortunate to have this level of support, which enables us to confidently deliver on these contracts, while also taking full advantage of our growing pipeline of future opportunities, which we expect to continue to grow, and deliver a flow of more new contracts." Maritime data and systems Oliver Plunkett, Group CEO of Ocean Infinity, commented, "This contract awarded to SRT in which Ocean Infinity will play a key supporting role is precisely the kind of opportunity to work together that we foresaw when we first invested in the Company. We strongly believe in the relationship, the wider market opportunity for maritime data and systems, and the long-term potential for both companies to continue working together to benefit our clients and each other." Oliver Plunkett adds, "That long-term vision is why we have seized this opportunity to provide additional equity funding to SRT, as well as help out in the short term with a bridge guarantee, which will facilitate SRT providing the necessary up front contractual guarantees to their customer, as they wait for UKEF to complete their processing."