NASDAQ Comp.
29.11.2007 15:21:00
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Digital Angel Corporation Receives Long-Term Contract to Supply Rescue Systems to the UK Royal National Lifeboat Institution
Digital Angel Corporation (the "Company”)
(AMEX:DOC), a leading provider of radio frequency identification (RFID)
and global positioning system (GPS) technologies that enable the rapid
and accurate identification, location tracking and condition monitoring
of people, animals and high-value assets, announced today that it has
signed a long-term contract between its McMurdo division and the UK’s
Royal National Lifeboat Institution (RNLI), to supply the RNLI’s
"MOB (man overboard) Guardian”
rescue system.
The RNLI has underwritten the first 300 systems totaling $450,000, which
Signature will begin supplying in December 2007 and complete by March
2008. The RNLI has identified that there are over 4,500 coastal
fishermen who would greatly enhance their safety if they were to select
the system. RNLI has encouraged the installation of the safety system by
organizing RNLI and European Union financial support to offset the cost
of the system to the fishermen. The fishermen will pay approximately
$630, which is less than 20% of the total cost of the total system
including satellite services.
Across the world many thousands of fishermen lose their lives each year.
Once deployed in UK waters McMurdo and the RNLI intend to offer the
system to the governments of the major fishing nations, in particular
those in Europe, Australasia and North America. McMurdo is an IRIDIUM
satellite system manufacturing partner and has worked closely with
IRIDIUM to arrive at a life-saving technical solution for the man
overboard problem.
David Cairnie, Chief Executive of Signature Industries, stated: "MOB
Guardian is destined to become one of the most important pieces of
safety equipment a UK coastal fisherman will ever purchase. The RNLI’s
commitment to the fishermen and the financial support structure
established by the RNLI will also be the major ‘lynch-pins’
in the successful deployment of "MOB Guardian”
throughout the UK. The RNLI are to be congratulated for their foresight
and initiative on "MOB Guardian”
and we look forward to a long and successful partnership with the RNLI.”
Cairnie continued, "Our agreement with RNLI
provides scope for the further development and advancement of the
product to address the world markets. We have been working closely with
the RNLI on MOB Guardian since we acquired McMurdo in April 2007. This
has resulted in a mutual confidence to establish a long-term partnership
to address the advancement of the MOB Guardian and other ‘safety
of life at sea’ issues. The fishing industry
is recognized as the most dangerous occupation in the world and we
believe that MOB Guardian will make a substantial contribution towards
assisting the safe recovery of the fisherman in difficulty. It is also
clear that many work boats and leisure craft around the world would
benefit from such a system in a man-overboard event and we have a
substantial opportunity to penetrate these markets in the near future.” About MOB Guardian
MOB Guardian is firstly a GPS location system that is mounted in the
wheelhouse of a fishing boat and sends regular location information via
the IRIDIUM satellite system to the RNLI Operations Centre (at Poole,
Dorset, England). This enables timely location of a vessel’s
expected position in the event of being declared overdue. The system is
also designed to identify when a fisherman is "man
overboard” (MOB). The fisherman carries a
small radio unit on his person when at sea and if he goes overboard, an
alarm is activated on board and shortly after a distress signal is
activated and transmitted through the IRIDIUM satellite system to the
RNLI Operations Centre (at Poole, Dorset, England) with a GPS position
of the MOB. There are 230 RNLI lifeboat stations located around the
British coastline, providing 24-hour on-call service covering search &
rescue requirements up to 100 nautical miles out from the coastline. The
RNLI is a charity reliant on donations. The majority of its lifeboat
crew are highly trained, well-equipped volunteers.
About Digital Angel Corporation
Digital Angel Corporation (AMEX:DOC) is a leading provider of radio
frequency identification (RFID) and global positioning system (GPS)
technologies that enable the rapid and accurate identification, location
tracking and condition monitoring of people, animals and high-value
assets. The company’s products are utilized
around the world in such applications as pet identification using its
patented, FDA-approved implantable microchip; livestock identification
and tracking using visual and RFID ear tags; and GPS search and rescue
beacons for use on aircraft, ships and boats, and by adventure
enthusiasts. Digital Angel Corporation has entered into an agreement to
merge with its parent company Applied Digital Solutions, Inc.
(NASDAQ:ADSX).
This press release includes forward-looking statements, including but
not limited to statements regarding sales expectations and the Company’s
business prospects in the United Kingdom. This information is also
qualified in its entirety by cautionary statements and risk factor
disclosures contained in the Company’s
Securities and Exchange Commission filings, including the Company’s
annual report on Form 10-K for the fiscal year ended December 31, 2006
and its quarterly reports. 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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