MIND Technology (MIND) Update - Sept 28

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dan_s
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Joined: Fri Apr 23, 2010 8:22 am

MIND Technology (MIND) Update - Sept 28

Post by dan_s »

If the U.S. Navy decides to buy the Klein system for the fleet, it is a BIG DEAL for MIND. On the other hand, if they don't MIND will be in trouble. Make your bets.

THE WOODLANDS, Texas, Sept. 28, 2020 /PRNewswire/ -- MIND Technology, Inc. (NASDAQ: MIND) and its Klein Marine Systems subsidiary successfully completed a live Advanced Naval Technology Exercise (ANTX) in a collaborative effort with the Naval Surface Warfare Center Panama City Division (NSWC PCD); Commander, Naval Meteorology and Oceanography Command (CNMOC) and in coordination with the Naval Oceanographic Office's Fleet Survey Team (FST), at NSWC PCD.

Despite COVID-19 limitations and numerous planning challenges caused by Hurricanes Laura and Marco, the collaborative team succeeded in conducting a live ANTX event. Participants travelled across the country to both Gulfport, Mississippi and Panama City, Florida to assess the operational and technical capabilities of emerging technology innovations.

Klein and a group from NSWC Panama City partnered to integrate the Klein UUV 600 and µMAX technologies into their Iver3 vehicle. In addition, Klein partnered with Seafloor Systems, Inc. to integrate the Klein MAX View 600 gap-filling side scan sonar system with their large-format, wave adaptive HydroCat-180 USV. The HC-180 has been integrated with a winch and Towfish Launch & Recovery System (T-LARS) designed and tested by Seafloor Systems. The USV is designed to be deployed by boat or from shore and be remotely piloted or programmed to conduct a pre-planned mission. The MAX View towfish was remotely deployed and recovered and the sonar data was sent back in real-time to either the mother ship or shoreside via a radio data link.

"The main benefits of ANTX are two-fold, the government gains first-hand interaction with emerging technology and the innovation providers gain warfighter feedback and insight on how to better work with government," said Todd Holland, director, mine warfare prototyping at NSWC PCD. "Our team here at Panama City Division, including our test directors, test engineers, range managers, and public affairs personnel did a great job of responding to various challenges while hosting an outstanding ANTX event in collaboration with Klein Marine Systems."

Guy Malden, Co-Chief Executive Officer and Executive Vice President Marine Systems, MIND Technology, added, "We were very pleased to have successfully demonstrated the benefits of our MA-X and µMA-X technologies despite the challenges of weather and COVID-related travel restrictions and greatly appreciate the efforts of NSWC Panama City and Seafloor Systems in this project. We believe through improved data quality and reduced time on station, MA-X provides for more than a 40% improvement in survey efficiency."

About MIND Technology
MIND Technology, Inc. provides technology and solutions for exploration, survey and defense applications in oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND Technology has a global presence with key operating locations in the United States, Singapore, Malaysia and the United Kingdom. Its Klein and Seamap units design, manufacture and sell specialized, high performance sonar and seismic equipment.
Dan Steffens
Energy Prospectus Group
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