KVH Industries, Inc., (Nasdaq: KVHI), announced today that
GreenSteam, developers of vessel performance optimization solutions
for a sustainable shipping industry, has joined the KVH Watch®
Solution Partner program and will offer the KVH Watch service as
part of its enhanced performance platform for improved data
mobility. KVH Watch’s dedicated connectivity will support
GreenSteam’s core services, facilitating the movement of data from
vessels to shore-based analysts more frequently and reliably in
real-time. This will enable customers to better understand the
factors leading to fuel wastage and develop more effective
sustainability optimization strategies, ultimately reducing costs.
“The lifeblood of GreenSteam is data volume, however, without
the ability to move this data off a ship in a timely manner to
enable rapid assessments and responses, its impact is lessened,”
says Daniel Slater, head of business development at GreenSteam. “As
vessels are becoming increasingly sophisticated data generators,
this partnership with KVH Watch will enable us to benefit from
significant advances in satellite communications by improving the
flow of information. This in turn will support shipowners and
charterers to make better operational decisions, saving time and
money, while reducing emissions.”
“This is an excellent opportunity for the maritime sector to
capitalize on the exceptional gains made in satellite
communications and performance optimization technology in recent
years,” says Sven Brooks, senior director of IoT business
development for KVH. “The combination of our Watch HTS connectivity
with GreenSteam’s machine learning solutions can result in
operational efficiencies, cost savings, and increased
sustainability for fleets. This represents one more way that
shipping is benefitting from digitalization.”
Digitalization is proving to be a transformative tool for the
maritime industry, but with the sector now evolving beyond the data
collection stage, attention is turning to the management, storage,
and transfer of the data generated. Without real-time data flow
from the vessel, machine-learning solutions must rely on
incremental data transfers, therefore limiting the accuracy and
confidence of the IoT analysis and prediction. With dedicated
satellite connectivity, shipowners can capitalize on real-time data
analysis to support vessel optimization throughout the course of a
sea voyage.
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 system optimization providers such as
GreenSteam, 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 the KVH Watch
Solution Partner program, 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 GreenSteamGreenSteam is an innovative
maritime data intelligence company providing solutions to improve
vessel efficiency through machine learning. GreenSteam implements
solutions on vessels of all types. Founded in 2007, GreenSteam
is located in Denmark, United Kingdom and Poland, and currently
employs more than 50 people. Find out more about
GreenSteam: www.greensteam.com.
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 GreenSteam and KVH, the
functionality, characteristics, quality, and performance of KVH's
and GreenSteams 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 GreenSteam 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