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Addvalue Signs Exclusive Collaboration Agreement with Network Innovations Inc to jointly market Addvalue iFleetONE™ VMS in the US

 

4 October 2018

Addvalue Communications Pte Ltd (“Addvalue’) has entered into a collaboration agreement with Network Innovations Inc (“NI”), a company based in USA to market the iFleetONE™ maritime satellite communications terminal together with the Addvalue proprietary Vessel Monitoring System (“Addvalue iFleetONE-VMS™”) which has been Type Approved by the US National Marine Fisheries Service (NMFS) Office of Law Enforcement (OLE) as meeting the requirements of the NMFS/OLE Vessel Monitoring Systems (VMS) program for use in the:

• Fisheries of the Western United States

• Fisheries of Alaska

• Fisheries of the Western and Central Pacific

• Papahanaumokuakea Marine National Monument (Hawaiian island chain)

It is mandatory for all commercial fishing vessels legally licensed and permitted to fish in certain US Fisheries Management regions to carry NMFS/OLE type approved VMS terminals that securely report their GPS positions via a secure satellite link. In the US there are around 4,000 fishing vessels required to comply with the VMS regulations  

Until now all of the type approved VMS terminals used in US and most of the rest of the world are based on older low-speed, narrow band communication technologies introduced more than two decades ago. The Addvalue iFleetONE-VMS™, with its broadband capability, represents the most significant advancement in fisheries management VMS technology today. It is capable of taking full advantage of the modern IP connectivity technologies built upon the backbone of the 4th generation of Inmarsat satellite network, arguably the most advanced and reliable L-band mobile satellite technology service to date. The introduction of the Addvalue iFleetONE-VMS™ will enable Fisheries Management officials, biologists, researchers, analysts and NMFS Law Enforcement for the first time to have a suitable platform for applications and tools that have previously been severely limited by the available technologies of the past, such as on-board imaging and other monitoring systems like winch and other gear sensor data that can be economically transmitted in real time back to shore.  

Under the Agreement, Addvalue and NI will exclusively market the Addvalue iFleetONE™ VMS in the USA NI will place an initial order of 50 units immediately to kick start the marketing program, which will also be supported by NI’s well positioned maritime dealer network and multiple technical support offices.  

Dr Colin Chan, Chairman and CEO of Addvalue remarked: “The commercialization of the US type approved Addvalue iFleetONE-VMS is a testament that our business transformation process to grow our recurring revenue is bearing fruit. Barring any unforeseen circumstances, we expect the hardware sales, the VMS subscription and airtime revenue to grow significantly from this year and beyond.”

 

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