Software Radio Technology receives order from India

Software Radio Technology, a developer and provider of maritime identification and tracking technologies and products, has received an order for 500 Identifiers from its Indian customer, which are set to be delivered before the end of April this year.

Software Radio Technology, a developer and provider of maritime identification and tracking technologies and products, has received an order for 500 Identifiers from its Indian customer, which are set to be delivered before the end of April this year.

The Identifiers are a customised version of SRT's standard Identifier product platform, and is for use on fishing vessels as part of India's general maritime domain awareness (MDA) investment programme.

In 2008, the Indian government decided to create a national automatic identification system (AIS) network along its 7,500km coastline as part of the MDA investment programme.

This was specified, tendered and installed within four years, giving India one of the world's most sophisticated AIS networks.

The next phase in this programme is to fit local boats with an AIS device and the order for 500 Identifiers marks the latest stage in Software Radio Technology's efforts to develop the most appropriate solution, before commencement of a national rollout.

Simon Tucker, Chief Executive Officer of Software Radio Technology, said: "With many hundreds of thousands of fishing vessels, India is an enormous market opportunity for SRT and we believe that our Identifier and Class B products provide ideal platforms which can be customised for specific requirements.

"Whilst small, this order is a major step forward in the India vessel tracking programme and we look forward to continuing our work with Elcome to provide India with a robust and reliable small vessel tracking solution that the authorities are confident can be rolled out nationally."

The share price rose 3.28% to 23.62p by 13:55.

NR

Recommended

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

Lab-grown meat: how “moo’s law” will drive innovation
Soft commodities

Lab-grown meat: how “moo’s law” will drive innovation

Jim Mellon and Anthony Chow, co-founders of Aim-listed Agronomics, explain why they believe that “cellular agriculture” will benefit from massive long…
16 Apr 2021
The bitcoin bubble will burst: here’s how to play it
Bitcoin

The bitcoin bubble will burst: here’s how to play it

The cryptocurrency’s price has soared far beyond its fundamentals, says Matthew Partridge. Here, he looks at how to short bitcoin.
12 Apr 2021
Lab-grown meat: the new agricultural revolution
Soft commodities

Lab-grown meat: the new agricultural revolution

Vegan alternatives are taking off, but the future of food technology lies in lab-grown meat – cultivating steaks and burgers from animal cells, says A…
16 Apr 2021