Addvalue unveils mobile satellite terminal for US fisheries market in tie up

MAINBOARD-LISTED Addvalue Technologies, together with Inmarsat and Network Innovations, has launched a broadband communications and vessel monitoring system (VMS) package for US fishing vessels.

The Addvalue iFleetONE, an IP-based (Internet Protocol-based) communications terminal and proprietary VMS, have been type-approved in four of the five US fisheries management regions, as required by the US National Maritime Fisheries Service (NMFS) Office of Law Enforcement.

Type approval in the fifth region is expected imminently, said the companies in a joint media statement.

The estimated 4,000 legally licensed commercial fishing vessels in the five US regions are required to report their GPS positions via a type-approved secure satellite link.

The companies said iFleetONE VMS is the first and only mobile satellite terminal to provide secure VMS services for NMFS with full-featured voice and IP-based communications capabilities.

Colin Chan, chairman and CEO of Addvalue, said: "Leveraging the resilient and competitive Inmarsat Fleet One services and Network Innovations' established and pervasive market reach for coastal fishing vessels in the US, we are confident to see good penetration into the fishery market.

"This will not only generate significant terminals sales but also grow recurring revenue with the bundled VMS subscription service for us and our partners."

Shares of Addvalue, which designs and develops communications technologies, closed down S$0.001 or 4 per cent to S$0.024 on Thursday.