Addvalue Signs Exclusive Collaboration Agreement
with Network Innovations Inc to jointly market
Addvalue iFleetONE™ VMS in the US
• Initial order of 50 units immediately to kick start the marketing program
• Addvalue iFleetONE™ Terminal Bundled With Its Proprietary Vessel Monitoring System (VMS) was type approved by the US National Marine Fisheries Service Office of Law Enforcement
• It is mandatory for all licensed commercial fishing vessels in the US Fisheries Management regions to use a type approved terminal and vessel monitoring system for secured reporting
Singapore, 4 October 2018 – Singapore Exchange Mainboard-listed Addvalue Technologies Ltd, a leading player in the mobile satellite communications industry, today announced that its wholly-owned subsidiary, Addvalue Communications Pte Ltd (“Addvalue’) has entered into a collaboration agreement with Network Innovations Inc (“NI”), a company based in USA to market the iFleetONE™ maritime satellite communications terminal together with the Addvalue proprietary Vessel Monitoring System (“Addvalue iFleetONE-VMS™”) which has been Type Approved by the US National Marine Fisheries Service (NMFS) Office of Law Enforcement (OLE) as meeting the requirements of the NMFS/OLE Vessel Monitoring Systems (VMS) program for use in the:
• Fisheries of the Western United States
• Fisheries of Alaska
• Fisheries of the Western and Central Pacific
• Papahanaumokuakea Marine National Monument (Hawaiian island chain)
It is mandatory for all commercial fishing vessels legally licensed and permitted to fish in certain US Fisheries Management regions to carry NMFS/OLE type approved VMS terminals that securely report their GPS positions via a secure satellite link. In the US there are around 4,000 fishing vessels required to comply with the VMS regulations
Until now all of the type approved VMS terminals used in US and most of the rest of the world are based on older low-speed, narrow band communication technologies introduced more than two decades ago. The Addvalue iFleetONE-VMS™, with its broadband capability, represents the most significant advancement in fisheries management VMS technology today. It is capable of taking full advantage of the modern IP connectivity technologies built upon the backbone of the 4th generation of Inmarsat satellite network, arguably the most advanced and reliable L-band mobile satellite technology service to date. The introduction of the Addvalue iFleetONE-VMS™ will enable Fisheries Management officials, biologists, researchers, analysts and NMFS Law Enforcement for the first time to have a suitable platform for applications and tools that have previously been severely limited by the available technologies of the past, such as on-board imaging and other monitoring systems like winch and other gear sensor data that can be economically transmitted in real time back to shore.
Under the Agreement, Addvalue and NI will exclusively market the Addvalue iFleetONE™ VMS in the USA NI will place an initial order of 50 units immediately to kick start the marketing program, which will also be supported by NI’s well positioned maritime dealer network and multiple technical support offices.
Dr Colin Chan, Chairman and CEO of Addvalue remarked: “The commercialization of the US type approved Addvalue iFleetONE-VMS is a testament that our business transformation process to grow our recurring revenue is bearing fruit. Barring any unforeseen circumstances, we expect the hardware sales, the VMS subscription and airtime revenue to grow significantly from this year and beyond.”
About Addvalue Technologies Ltd. (www.addvaluetech.com)
Addvalue Technologies Ltd (A31) a SGX Mainboard-listed company, is a leading one-stop digital, wireless and broadband communications technology products innovator, which provides state-of-the-art satellite-based communication terminals and solutions for a variety of voice and IP based data applications.
Addvalue is presently a leading global developer and supplier of mobile satellite terminals supporting coverage provided by premier mobile satellite communication system operators. These terminals are an ideal choice for communications in areas around the world where terrestrial networks are non-existent, or ineffective. This is particularly so for maritime communications, which rely almost entirely on satellite communications, where Addvalue’s marine communications terminals are well suited.
About Network Innovations Inc (www.networkinv.com)
Network Innovations Inc is a Canadian company with team of about 100 staff and has offices in USA, UK, Sweden, Netherland, Singapore and Australia in the business to provide internet data and voice and communication solutions for the defense, oil and gas, mining, media and fisheries management industries. Our partners include industry-leading companies in satellite communications such as Inmarsat, Telesat, Intelsat, Eutelsat, SES, Cobham (Thrane), Intellian, Iridium, Ligado Networks, Hughes HNS, Skywave, Skyware, iDirect, Thuraya, Comtech, DataPath, Paradigm, Beam, ASE, and Newtec.
For Media and Investor Enquiries, please contact
Ms. Yee Ping, TAN
Senior Manager, Corporate Affairs and Communications
Addvalue Technologies Ltd.
Tel: (65) 6509 5705