Huntington Ingalls Industries Invests in Sea Machines
July 22 2020 - 09:00AM
Huntington Ingalls Industries’ (NYSE:HII) Technical Solutions
division announced today that it has completed a strategic equity
investment in Sea Machines Robotics, Inc., a Boston-based
autonomous technology company that specializes in advanced software
for unmanned surface vessels (USVs).
“This investment represents our commitment to advanced
innovation and competencies across the unmanned systems market,”
said Andy Green HII executive vice president and president of
Technical Solutions. “Sea Machines is making significant strides in
the USV industry. We want to invest in their growth and continue to
form complementary partnerships across this key domain.”
Sea Machines was founded in 2015 and is an autonomous technology
company that specializes in advanced control technology for
workboats and other commercial surface vessels. They have installed
their innovative autonomy software on vessels worldwide and support
customers in the commercial, recreational and government market
sectors. Their commercial, off-the-shelf technology can support
remote controlled or fully autonomous command of vessels.
“Our partnership with Sea Machines gives us immediate access to
state-of-the art solutions for U.S government work in the USV
space,” said Duane Fotheringham, president of Technical Solutions’
Unmanned Systems. “Sea Machines’ products align well with our
existing autonomy capabilities, and we look forward to
collaborating with their team on USV pursuits.”
HII continues to expand in the rapidly growing autonomous and
unmanned maritime systems industry. Earlier this year they added
additional unmanned underwater vehicle capabilities — with REMUS
and Seaglider product lines through the March acquisition of
Hydroid. While the company has worked on USVs in the past, this
investment represents another milestone in their commitment to
strengthen their leadership in unmanned systems.
Huntington Ingalls Industries is America’s largest military
shipbuilding company and a provider of professional services to
partners in government and industry. For more than a century, HII’s
Newport News and Ingalls shipbuilding divisions in Virginia and
Mississippi have built more ships in more ship classes than any
other U.S. naval shipbuilder. HII’s Technical Solutions division
supports national security missions around the globe with unmanned
systems, defense and federal solutions, and nuclear and
environmental services. Headquartered in Newport News, Virginia,
HII employs more than 42,000 people operating both domestically and
internationally. For more information, visit:
- HII on the web: www.huntingtoningalls.com
- HII on Facebook:
www.facebook.com/HuntingtonIngallsIndustries
- HII on Twitter: twitter.com/hiindustries
- HII on YouTube: www.youtube.com/huntingtoningalls
- HII on Instagram:
www.instagram.com/huntingtoningalls
Statements in this release, other than statements of historical
fact, constitute “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve risks and uncertainties that
could cause our actual results to differ materially from those
expressed in these statements. Factors that may cause such
differences include: changes in government and customer priorities
and requirements (including government budgetary constraints,
shifts in defense spending, and changes in customer short-range and
long-range plans); our ability to estimate our future contract
costs and perform our contracts effectively; changes in procurement
processes and government regulations and our ability to comply with
such requirements; our ability to deliver our products and services
at an affordable life cycle cost and compete within our markets;
natural and environmental disasters and political instability; our
ability to execute our strategic plan, including with respect to
share repurchases, dividends, capital expenditures and strategic
acquisitions; adverse economic conditions in the United States and
globally; health epidemics, pandemics and similar outbreaks,
including the COVID-19 pandemic; changes in key estimates and
assumptions regarding our pension and retiree health care costs;
security threats, including cyber security threats, and related
disruptions; and other risk factors discussed in our filings with
the U.S. Securities and Exchange Commission. There may be other
risks and uncertainties that we are unable to predict at this time
or that we currently do not expect to have a material adverse
effect on our business, and we undertake no obligation to update
any forward-looking statements. You should not place undue reliance
on any forward-looking statements that we may make. This release
also contains non-GAAP financial measures and includes a GAAP
reconciliation of these financial measures. Non-GAAP financial
measures should not be construed as being more important than
comparable GAAP measures.
Contact:
Beci BrentonBeci.Brenton@hii-co.com(202) 264-7143
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