SM8’s Clever Buoy shark mitigation system endorsed for Southern California roll-out
Australian marine technology group, Shark Mitigation Systems (ASX:SM8), yesterday announced some encouraging developments relating to the roll-out of its Clever Buoy system in Orange County, Southern California.
SM8 has welcomed the support of United States federal congressman, Dana Rohrabacher, for a pilot project involving the company’s Clever Buoy technology.
SM8, which is focused on expanding its Clever Buoy system in the US market, has been working with Orange County officials in recent months on an integrated shark management plan, including installation of Clever Buoy systems at a further six beaches along their coastline.
This pilot installation will act as a precursor to a US$10 million shark management proposal.
Rohrabacher said: “It’s clear that increasing numbers of sharks have been sighted in local waters here in Southern California. In fact, there have been several recent attacks, including a nearly fatal one here at Big Corona Del Mar. This technology can help us save lives and give people confidence in our local beaches.”
Clever Buoy is a non-invasive, early warning shark detection system which identifies shark activity and communicates this information to the appropriate authorities.
Formal support by US federal government representatives, as well as the sheer scale of the US market itself, serves as strong endorsement of SM8’s technology.
Although it is an early stage stock and investors should seek professional financial advice if considering this stock for their portfolio.
SM8 founding director, Craig Anderson, said: “Our shark-detecting sonar technology provides a solution for more than 3,300 patrolled beaches in the US. We are delighted about the opportunity to roll-out our technology in Southern California and encouraged by the US government’s willingness to proactively implement non-invasive methods to protect beach goers.”
According to Rohrabacher, the initial deployment will be underpinned by a federal, state and county funding collaboration, with plans for discussing participation in this initiative with local businesses and residents.
SM8 is committed to focusing on Clever Buoy deployments in California to ensure the project’s success. Subject to finalising funding arrangements and environmental permits in California, the proposed pilot project will use Clever Buoy to assist lifeguards and beach authorities in mitigating the risk of shark attacks along their coastline.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.