ECA Group will supply Degaussing Systems and UAV IT180 based Magnetic Ranging Systems to an Asian Ministry of Defence through a Contract of more than 7 million euros.
The knowledge of the ship signature and efficiency of its Signature Reduction System is of prime importance to assess vulnerability against underwater mines and unfriendly detectors. To reduce the magnetic signature of Client's vessels, ECA Group will provide and set-up degaussing systems in compliance with NATO standards.
To perform magnetic signature vessel's measurement, ECA Group will deliver its patented portable magnetic ranging systems, called STERNA® based on UAV IT180 technology.
STERNA® is the best combination of an IT180 UAV and an embedded magnetometer and its digitizer. To perform the mapping in a horizontal plane of the vessel, STERNA® overflies the vessel. Data are analyzed and degaussing parameters are computed.
This ECA Group innovation was awarded by the Innovation Trophy during Euronaval tradeshow for their patent named STERNA®. This patent combines the use of an UAV (for example, the UAV IT180) and a magnetic sensor carried by the drone to measure the ship's magnetic field.
Integrating a robust industrial design and functionalities, this innovative and cost-effective solution is adapted for Navies seeking for reliable, modular and fast-deployable operational tools in order to secure the vessel and the crew.
ECA Group estimates the market for this new technological solution up to 30 M€ for the next 5 years.
This press release could contain statements on past events and forward-looking statements including statements regarding future goals or targets. Forward-looking statements reflect current expectations for results and future events.
Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that may cause actual results, performance or events to differ materially from those anticipated herein. All these risks and uncertainties could affect the Group's future ability to achieve its targets. Risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements and targets include, among other things: the risks and uncertainties possibly mentioned in this press release; the strength of competition; the growth of the market; currency fluctuations; interest rate fluctuations; raw materials and freight price fluctuations; armed conflicts or political instability; control of costs and expenses; changes in tax legislation, rules, regulation or enforcement; our ability to successfully keep pace with technology changes; our ability to attract and retain qualified personnel and key-men; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements; supply chain bottlenecks; the performance of our business partners (subcontractors, agents, suppliers, etc.).
Some of these risk factors are set forth and detailed in our Document de Référence (Registration Document including the annual financial report filed with the French Autorité des Marchés Financiers). This list of risks, uncertainties and other factors is not limitative. Other non-anticipated, unknown or unforeseeable factors could also have material adverse effect on our targets. The Group expressly disclaims any obligation or undertaking to update or revise any forward-looking statements or targets potentially contained in this press release to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based.
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About Groupe Gorgé
Groupe Gorgé is an independent group that specializes in high-tech industries. Today, the Group is active in the fields of security and protection in extreme environments, as well as in the 3D printing sector. It employs around 1,700 people, is located in eight countries and directly exports around 40% of its activity. In its more than twenty-five year history, Groupe Gorgé has always developed and driven the latest technological and industrial innovations.
Smart Safety Systems: Developing complete, innovative technological solutions for complex missions in hostile and confined environments.
Protection of High-Risk Installations: Protecting people and securing installations - Conducting Robotics projects for industry and service-sector player.
3D Printing: Enabling major industry players to find new routes to successful innovation and production processes by providing systems, 3D printers and new premium material.
In 2016, the Group reported revenue of €281.2 million. It is backed by 1,700 employees and operations in over ten countries.
More information available on www.groupe-gorge.com
Groupe Gorgé is listed on Euronext Paris and on the US OTC market in the form of ADR.
isin code: FR0000062671
Ticker code: GOE
US OTC market:
CUSIP NUMBER: 399451 103
ISIN NUMBER: US3994511034
Ticker Code: GGRGY / GGRGF
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