KVH Industries, Inc., (Nasdaq: KVHI), announced today that
ioCurrents, a leader in real-time, remote vessel analytics, has
joined the KVH Watch
® Solution Partner program and
will offer KVH Watch connectivity as part of its maritime services.
The company is the creator of the MarineInsightTM platform, which
uses machine-learning algorithms to support maritime maintenance
and fuel optimization and has thus far relied on vessels’ existing
communications systems for data transfer. KVH Watch’s dedicated
connectivity will enable ioCurrents to use real-time data to
provide customers with actionable insights and engage in real-time
video troubleshooting sessions during the course of a sea voyage.
“The ioCurrents MarineInsight platform notifies key
stakeholders, onboard and shoreside, when and where to focus with
real-time, remote vessel analytics,” says Jon Best, head of
partnerships for ioCurrents. “Together, ioCurrents and KVH will
enable people to have better troubleshooting conversations when it
matters most by offering an unprecedented, comprehensive
ship-to-shore experience, providing key insights with unmatched
speed and reliability.”
“The ioCurrents approach is a great example of a company using
data and analysis to prevent component failures, increase fuel
efficiency, minimize downtime, and improve overall vessel and fleet
performance,” says Sven Brooks, senior director of IoT business
development for KVH. “We are extremely pleased that they have
chosen our KVH Watch service as their connectivity solution and we
look forward to being their partner as maritime IoT continues to
grow throughout the industry.”The adoption of digital processes to
increase operating efficiencies has been accelerated by the
COVID-19 pandemic, which has put a spotlight on the need for remote
maintenance. However, often an IoT company is not in control of
connectivity from the vessel and must rely on slow, intermittent
communications or cellular communications at port. This
circumstance prevents continuous real-time IoT data transfer and
the ability to take action at sea. Affordable high-speed
connectivity like KVH Watch enables shoreside monitoring of the
assets onboard a ship with the ability to do video interventions to
fix problems in real time. Further, this reduces maintenance costs
and delays in port.KVH Watch is an IoT Connectivity as a Service
solution that provides Flow, secure 24/7/365 machine-to-cloud
satellite connectivity for remote monitoring of onboard equipment,
plus the ability to perform on-demand Remote Expert Interventions
using video, voice, or text via KVH’s global HTS network. KVH Watch
is designed for maritime equipment manufacturers, multicard service
providers, and shipyards seeking affordable monthly
subscription-based connectivity that L-band and cellular services
cannot deliver at deep sea.
KVH is a mobile tech innovator that provides connectivity
solutions for commercial maritime, leisure marine, and land mobile
applications on vessels and vehicles, including the award-winning
TracPhone® and TracVision® product lines, the global mini-VSAT
Broadbandsm network, KVH Watch maritime IoT solutions, and
AgilePlans® Connectivity as a Service (CaaS). The company’s KVH
Media Group provides news, sports, and entertainment content with
such brands as NEWSlink™ and SPORTSlink™.
Note to Editors: For more information about KVH Watch, please
visit kvh.com/watch. High-resolution images of KVH products are
available at the KVH Press Room Image Library,
kvh.com/Press-Room/Image-Library.
About ioCurrentsThrough purposeful
digitization, ioCurrents provides customers with information on
when, where, and why to pay attention to each asset on each unique
vessel, offering the opportunity to gain efficiencies. The company
is the creator of the MarineInsight platform, a data analysis tool
focused on improving maintenance, predicting failures, and
optimizing fuel all with the end result of smarter shipping.
Founded in Seattle in 2015, the company is active in the Pacific
Northwest fishing industry, the U.S. tug and barge industry, and
other commercial and passenger maritime sectors around the
globe.
About KVH Industries, Inc.KVH Industries, Inc.,
is a global leader in mobile connectivity and inertial navigation
systems, innovating to enable a mobile world. A market leader in
maritime VSAT, KVH designs, manufactures, and provides connectivity
and content services globally. KVH is also a premier manufacturer
of high-performance sensors and integrated inertial systems for
defense and commercial applications. Founded in 1982, the company
is based in Middletown, RI, with research, development, and
manufacturing operations in Middletown, RI, and Tinley Park, IL,
and more than a dozen offices around the globe.
This press release contains forward-looking
statements that involve risks and uncertainties. For example,
forward-looking statements include statements regarding the
expected competitive advantages of KVH Watch, the anticipated
strategic relationship between ioCurrents and KVH, the
functionality, characteristics, quality, and performance of KVH’s
and ioCurrents’ products, services, and technology, as well as
customer demand, preferences, requirements, and expectations.
Actual results could differ materially from the forward-looking
statements made in this press release. Factors that might cause
these differences include but are not limited to: unanticipated
technical and other challenges that arise during beta testing and
customer trials of the KVH Watch service; unanticipated technical,
legal, and regulatory delays with the launch of the new services;
delays in the receipt of anticipated orders for our KVH Watch
service, or the potential failure of such orders to occur at all;
potential future decisions by ioCurrents to terminate or otherwise
not expand orders for the KVH Watch service; customer response to
KVH Watch; potential changes in market trends, competition and
other developments affecting the buying patterns of end-users of
maritime IoT solutions; and potential unforeseen costs or expenses
of providing the products and services included in KVH Watch
subscriptions. These and other factors are discussed in more detail
in KVH’s Form 10-Q filed with the SEC on October 29, 2020. Copies
are available through its Investor Relations department and
website, https://ir.kvh.com. KVH does not assume any obligation to
update forward-looking statements to reflect new information and
developments.
KVH Industries, Inc., has used, registered, or
applied to register its trademarks in the U.S.A. and other
countries around the world, including but not limited to the
following marks: KVH, KVH Watch, TracPhone, TracVision, mini-VSAT
Broadband, AgilePlans, NEWSlink, and SPORTSlink. All other
trademarks are the property of their respective companies.
For further information, please
contact:Jill ConnorsSr. Manager, Media & Industry
Analyst RelationsKVH Industries, Inc.Tel: +1 401 851
3824jconnors@kvh.com
KVH Industries (NASDAQ:KVHI)
Historical Stock Chart
From Jun 2024 to Jul 2024
KVH Industries (NASDAQ:KVHI)
Historical Stock Chart
From Jul 2023 to Jul 2024