Digital Angel to Develop New Submarine Beacon for Royal Netherlands Navy
December 08 2006 - 8:00AM
Business Wire
Digital Angel Corporation (AMEX: DOC) announced today that the
SARBE Division of its London-based subsidiary, Signature
Industries, has signed a new contract to develop and supply a new
crew escape system for submarines for the Royal Netherlands Navy.
The initial development contract to SARBE is for $150,000 and SARBE
expects additional orders for equipment purchases. �SARBE will
develop and supply an automatically activated and deployed
emergency radio which will alert rescue authorities and pinpoint a
stricken submarine submerged or on the surface,� said David
Cairnie, CEO of Signature Industries. �This is a prestigious
contract and we�re honored SARBE has been selected to create this
new product.� SARBE, a world leader in search and rescue radios,
RFD Beaufort, the leader in Submarine Escape Equipment and Weir
Strachan and Henshaw, a design authority for submarine launch
systems, have partnered in a joint venture to develop the
equipment. The venture, Integrated Submarine Escape Capability
(ISEC), will collaborate to effectively meet personnel escape
requirements from submerged vessels or during surface abandonment
situations. The Royal Netherlands Navy has selected the ISEC
System, which triggers the launch of a 35-man life raft either on
the surface or at deep-sea levels. Once inflated, the new SARBE
beacon is automatically activated and sends emergency Cospas-Sarsat
406 MHz transmissions for up to 10 days. The Walrus class vessels
will be the first submarines to be fitted with the equipment. SARBE
is also pursuing opportunities to supply beacons to Scorpene
submarines that have been ordered by the Navies of Malaysia, India
and Chile. About Digital Angel Corporation Digital Angel
Corporation develops and deploys sensor and communications
technologies that enable rapid and accurate identification,
location tracking, and condition monitoring of high-value assets.
Applications for the Company�s products include identification and
monitoring of humans, pets, fish, poultry and livestock through its
patented implantable microchips; location tracking and message
monitoring of vehicles and aircraft in remote locations through
systems that integrate GPS and geosynchronous satellite
communications; and monitoring of asset conditions such as
temperature and movement, through advanced miniature sensors.
Digital Angel Corporation is majority-owned by Applied Digital Inc.
(Nasdaq:ADSX). For more information about Digital Angel, please
visit www.DigitalAngelCorp.com. The statements in this press
release that are not strictly historical, are "forward-looking"
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934 and
are intended to be covered by the safe harbors created by these
sections. The forward-looking statements are subject to risks and
uncertainties and the actual results that the Company achieves may
differ materially from these forward-looking statements due to such
risks and uncertainties, including, but not limited to, that
Applied Digital Inc. owns 55.4% of the Company�s common stock, that
new accounting pronouncements regarding expensing of share based
compensation may impact the Company�s future results of operations,
the Company may continue to incur net losses, infringement by third
parties on the Company�s intellectual property or development of
substantially equivalent proprietary technology by the Company�s
competitors could negatively impact the Company�s business,
domestic and foreign government regulation and other factors could
impair the Company�s ability to develop and sell its products in
certain markets, the Company relies on sales to government
contractors for its animal identification and search and rescue
beacon products, and any decline in the demand by these customers
for such products could negatively affect the Company�s business,
the Company depends on a single production arrangement for its
patented syringe-injectable microchips, and the loss of or any
significant reduction in the production could have an adverse
effect on the Company�s business, technological change could cause
the Company�s products to become obsolete, the loss of one of the
Company�s principal customers could negatively impact the Company�s
net revenue, the Company�s earnings will decline if the Company
writes off goodwill and other intangible assets, options and
warrants outstanding and available for issuance may adversely
affect the market price of the Company�s common stock, currency
exchange rate fluctuations could have an adverse effect on the
Company�s sales and financial results, the Company depends on a
small team of senior management. A detailed statement of risks and
uncertainties is contained in the Company�s reports to the
Securities and Exchange Commission, including in particular the
Company�s Form 10-K for the fiscal year ended December 31, 2005.
Investors and stockholders are urged to read this document
carefully. The Company can offer no assurances that any
projections, assumptions or forecasts made or discussed in this
release will be met, and investors should understand the risks of
investing solely due to such projections. The Company undertakes no
obligation to revise any forward-looking statements in order to
reflect events or circumstances that may arise after the date of
this press release.
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