SEOUL, South Korea, Oct. 10, 2017 (GLOBE NEWSWIRE) — eMARINE Global, Inc. (OTC:EMRN), a leading provider of information and communications technology for the maritime industry, is pleased to announce Korea’s Ministry of Oceans and Fisheries awarded the Company a contract to develop a technology solution that predicts “red tide”, a condition that can produce toxic or harmful effects on people, fish, shellfish, marine mammals, and birds.
The contract is the third stage of development of Korea’s National Anti-Disaster Information System. eMARINE participated in the two previous stages and believes this contract ideally positions the Company to be awarded the next stage of development in 2018, an estimated $1.5 million project.
“This contract further demonstrates our unique position as a respected leader in the maritime industry in Korea,” stated Ung Gyu Kim, Chairman and CEO of eMARINE Global. “Under this same program, we previously developed and implemented a passenger ship remote monitoring system in 2015 and a typhoon tracking system in 2016. As with prior technologies, we believe we will be able to brand the Red-Tide Prediction System for public and commercial markets after successfully completing this stage of the project, paving the way for additional revenues.”
Using IoT and big data technology, the Red-Tide System analyzes weather data gathered via smart sensors and real-time mobile inputs to predict the most accurate red tide information and broadcasting the information to all concerned parties.
The development of the Red-Tide Prediction System is expected to generate $750,000 in revenue for eMARINE.
About eMARINE Global, Inc.
eMARINE is a provider of information and communications technology in the maritime industry. Specifically, eMARINE provides solutions for collection, integration and display of maritime information abroad and ashore by electronic means to enhance berth to berth navigation and related services. These solutions provide the most efficient means to secure the safety of life at sea and to protect the marine environment. All products and services are offered through subscription, installation, updates and/or maintenance contracts.
Statements preceded by, followed by, or that otherwise include the words “believe”, “anticipate”, “estimate”, “expect”, “intend”, “plan”, “project”, “prospects”, “outlook”, and similar words or expressions, or future or conditional verbs such as “will”, “should”, “would”, “may”, and “could” are generally forward-looking in nature and not historical facts.
These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any anticipated results, performance, or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise.
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