ASX-listed UUV Aquabotix has started work on a unmanned underwater vehicle, or underwater drone, designed for consumer recreational use.
A short time ago, its shares were up 7.6% to $0.14.
The company has until now been focusing on commercial, industrial and military-grade unmanned underwater vehicles for research, aquaculture, marine infrastructure, energy, law enforcement and defence.
These cost between $5,000 and $100,000.
The company says it has identified a gap in the consumer market — there isn’t a viable recreational underwater drone available.
“This project signals Aquabotix’s advancement into the consumer space, potentially opening a large market segment for the company,” says CEO Durval Tavares.
“We believe that the underwater world is approximately five to seven years behind the aerial space, and it is clear to see how quickly consumer-grade aerial drones have proliferated the way people work and recreate.
“We see that trend translating to underwater drones in the years to co me, and Aquabotix plans to be the leader in that
The company will use a simplified version of its existing technology for the consumer drone. For the outside design, Aquabotix has an agreement with the Wentworth University of Technology in the US for a design project.
Prices haven’t yet been determined.
Here’s footage of the Endura, a mini inspection class underwater drone: