I don't disagree, and again not making excuses, but the global macro situation has clearly had a significant effect in customer mobilisation.
In the meantime, it's not as if they have been asleep at the wheel.
To whit, have been doing a bit of digging around the recent Operations Update:
1. Operational trial with a leading global services provider operating in the dredging, maritime and infrastructure sectors with an extensive fleet of 600 vessels and floating equipment. This customer intends to build an advanced remote operations capability like the infrastructure Harvest has built within Fugro Australia. The sales team are working with the customer on a successful project trial and scoping an implementation plan with phased-in approach.
Boskalis is a leading global dredging and offshore contractor and maritime services provider. We offer a unique combination of experts, vessels and activities. With our origins in the Netherlands, we have been operating for over 100 years. Today we create new horizons for our stakeholders in the ports, offshore energy, maritime and inland infrastructure markets.
We offer the widest range of expert dredging, offshore transport and installation solutions, as well as maritime services, including towage and salvage, in our industry. As a result we can provide innovative, one-stop solutions to meet every challenge.
10,000 employees. Operating in 90 countries. More than 600 vessels and floating equipment
2. Following a successful drone trial in Japan, regulatory approval has been received and in conjunction with its Malaysian service provider customer, Harvest will now take a drone through a full operational flight in the Gulf of Thailand in September for the end-client, a global Malaysian energy group. Once the operational field trial is completed and based on discussions to date, it is expected that an initial order will involve NSI devices embedded up to 10 drones.
National Petroleum Limited (Malay: Petroliam Nasional Berhad), commonly known as PETRONAS, is a global Malaysian energy group with a presence in over 100 countries.
Established in 1974, in the annual Fortune Global 500 list for 2022, PETRONAS was ranked at 216th. PETRONAS also ranked 48th globally in the 2020 Bentley Infrastructure 500.The Financial Times has identified PETRONAS as one of the "new seven sisters", considered to be influential and mainly state-owned national oil and gas companies from countries outside the OECD.
3. There has been ZERO discussion/interest in NSI™ Embedded Board - a 160gm onboard computer that can be fitted/retrofitted to, well, just about anything. Take a minute to read this again and absorb its importance:
To enable live streaming of video, transaction of telemetry data, control commands and two-way audio fromVLOS4 capable UAVs 5 , Harvest developed the NSI™. The NSI™ is a small-form-factor single board computer with low power consumption, flexible input/output options, and high-performance compute.
Combined with Nodestream™ software it enables delivery of decision-making quality video via onboard communication links at bandwidths of less than 100kbps.
The module weighs circa 160g and can be easily integrated with most platforms. As well as industry leading weight and performance, the solution offers military grade encryption, safeguarding data whilst in transit. Settings and attributes can be manipulated to ensure the best quality data and lowest latency leveraging Harvest’s proprietary transport protocols and interfaces.
Furthermore, the solution integrates seamlessly into the wider Nodestream™ ecosystem offering unparalleled remote operations capabilities.
• The NSI™ was successfully trialed in Japan in June and is gaining a great deal of interest from drone manufacturers.
Harvest is currently in discussion with three companies for embedment of the NSI™ into their drones, offering the Company a potential revenue stream of hardware and software licensing for more than 300 drones designed for ISR6 applications in the defence and energy sectors.
• The NSI™ will also be used in the Gulf of Thailand operational flight in September.
• Harvest’s U.S. based defence and government customer has embedded the NSI™ board into multiple buoys off the U.S. coast for maritime surveillance activities.
Revenue from the NSI™ is derived from hardware purchase and software licensing.
I not ready to throw the baby out with the bathwater just yet.
HTG Price at posting:
3.8¢ Sentiment: Buy Disclosure: Held
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