Marine Technology Business Operations - The Marine Technology Business operates through subsidiaries in Orlando, UK, Denmark, Netherlands, and India[17] - The company acquired Octopus Marine Systems Ltd in 2002, leading to the introduction of the Motion product (F180 series)[28] - The company acquired Coda Octopus Martech Limited in 2006, expanding its Marine Engineering Business[29] - The company established Coda Octopus Products Pty Ltd in Australia in 2013, though activities were slowed by the Coronavirus Pandemic[30] Echoscope Technology and Applications - The Echoscope® and Echoscope PIPE products are primarily used in underwater construction, offshore renewables, and offshore oil and gas markets[16] - The Echoscope technology is the only acoustic imaging sonar capable of providing real-time 3D/4D/5D/6D imaging of moving objects in zero visibility water conditions[20] DAVD System and Market Potential - The DAVD tethered system completed successful field trials with a major European Offshore Service Provider, part of the "Big Four" Dredging companies accounting for 80% of global dredging capacity[22] - The DAVD system is expected to generate $2 million in revenue, with firm commitment from a foreign NATO country[25] - The DAVD system is protected by patent, with exclusive license from the U.S. Department of the Navy[26] - The DAVD system combined with real-time 3D sonars allows diving in difficult water conditions, addressing visibility issues[21]
a Octopus (CODA) - 2023 Q4 - Annual Report