Federal Communications Commission approval for its marine identification technology will boost Software Radio Technology.
The US Coast guard has been pushing for approval of the AIS Class B products by the FCC on safety grounds. It helps to prevent collisions between boats as well as helping the authorities track them. This means that the marine identification products can be sold to smaller boats in the US for the first time.
SRT’s technology is cheaper than its competitors and is included in the products of a number of manufacturers and is already being sold in Turkey. The fact that there are products already available gives it a head start over competitors.
There are 16m vessels in the US out of a world total of 26m vessels.
SRT shares are unchanged at 16.5p, which values the company at £16.1m.
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