Regulatory News

Non-Regulatory Announcement

OTAQ plc

("OTAQ", or the "Company")

Cycling Event Tracking Contract with NTT

OTAQ, the marine technology products and solutions group for the global aquaculture, offshore energy and the sport and leisure industries, announces the continuation of its relationship with NTT Ltd following the award of a contract to deliver OTAQ’s bespoke precision tracking devices for a major cycling event in France. NTT Ltd is part of a £70bn revenue technology communications group.

The OTAQ trackers will be used to precisely monitor the location of the in-race vehicles and other support vehicles used by the race organiser.

The tracker technology was initially acquired through the acquisition of ROS Technology by OTAQ in November 2020, and was fully commercialised in 2021 through the development of prototypes and the completion of successful client field trials, culminating in the delivery of over 500 trackers for a major motorcycling event, also in association with NTT.OTAQ is continuing its product development programme to broaden the applications for this technology.The Board sees considerable market opportunities for OTAQ's tracking technology, not only in the sports events sector but also in other industries where the monitoring and management of mobile assets can be critical.

Phil Newby, Chief Executive at OTAQ, commented: “Competitive sport is a fantastic proving ground for our technology to demonstrate its tolerance and durability.This commercial contract follows extensive trials across differing environments and endorses our approach to developing the product suite for different applications and markets using our core technology. We look forward to continuing our relationship with NTT in the future.”

Tim Wade, Vice-President, Advance Technology Group at NTT, added: “OTAQ’s tracking device gives us very high precision tracking of assets without the need for costly additional infrastructure compared to the alternatives.Accuracy is key in competitive environments where precision has a significant bearing on both the quality of the competition and its safety.”

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About OTAQ

OTAQ is a highly innovative marine technology company focused on the marine aquaculture, offshore energy, renewables and oceanographic research sectors. It operates in four worldwide locations: Lancaster, Aberdeen and Ulverston in the UK and Puerto Montt in Chile.

OTAQ's marine technology portfolio includes a market-leading intelligent acoustic deterrent system, Sealfence, designed to protect marine-based aquaculture sites from predation, with multiple systems deployed in Scotland, Chile and Finland.

The Company'sOceansenseleak detection systems have a global reputation as the industry standard solution and have been deployed successfully on hundreds of jobs. OTAQ's Dragonfish laser measurement system is fast becoming recognised as one of the most accurate underwater precision laser measurement systems available. OTAQ also has significant experience in the design and manufacture of underwater connectors, penetrators and communication systems.

It seeks to develop and continuously improve its products using its specialist mechanical, electronic and software engineers with decades of experience in bringing underwater technology products to market. Concurrently, OTAQ seeks to expand its technology portfolio through acquisitive growth, with the aim of further expanding its aquaculture and offshore product offering.

OTAQ is proud to be fully ISO 9001:2015 accredited through DNV-GL. ISO 9001 is an internationally recognised quality management system and demonstrates OTAQ's commitment to consistency, continual improvement and customer satisfaction. The certification also demonstrates its ability to consistently deliver products and services to market whilst meeting statutory and regulatory requirements by applying an effective quality management system.