Post on 27-Jul-2020
UUV Aquabotix Ltd | Sydney, Australia and Fall River, Massachusetts, USA ASX:UUV (shares) and ASX:UUVO (options)
Investor Presentation | 14 June 2017
BUSINESS OVERVIEW
UUV Aquabotix Ltd (“Aquabotix” or “the Company) is a six-year old
unique and established underwater robotics company.
Aquabotix listed on the ASX on 28 April 2017, and is now the only
standalone publicly-traded company in the underwater robotics /
underwater drone space in the world. The IPO closed early with the
maximum of A$7m raised (oversubscribed).
U.S. manufacturer of commercial-grade Unmanned Underwater
Vehicles (“UUVs” or “underwater drones”) and underwater cameras for
commercial and military applications.
Revenues of approximately US$820,000 / A$1,125,000 for the year
ended 31 December 2016, up 80% on prior year.
Approximately 350 vehicles shipped since drone sales commenced in
November 2011.
Four product lines with 10 product models currently being sold.
Current unit pricing range = US$1,500 (for AquaLens Connect) up to
US$150,000 (for a Hybrid with a high-degree of options added).
The underwater drone industry is where the aerial drone industry
was in the mid 2000s, with no dominant players, but Aquabotix is the
low-cost commercial grade underwater drones.
An addressable market of US$4.0 billion estimated by 2020.
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BUSINESS OVERVIEW (CONT’D)
Highly differentiated from the limited competition, producing a simple to use and inexpensive underwater drone
solution, remotely operated and controlled camera systems and one of only a few ARV (hybrid) products.
Backed by the U.S. institutional investor behind DroneShield (ASX:DRO) and by high profile marine technology
industry insiders
Founder is Durval Tavares, ex-Naval Undersea Warfare Center, Fidelity Investments (senior executive Product
Delivery) and MIKEL Undersea Warfare Systems
Board of Directors includes Ret. Admiral Jay Cohen, a former Chief Technology Officer of the US Navy and
Peter James, long-term iiNet Director, and current Chairman of nearmap, Macquarie Telecom, Dreamscape
Networks and Droneshield
Proprietary hardware backed by unique proprietary IP / software. Patent granted and further patents pending
Products are being sold currently – not just a concept
Substantial M&A in the sector, including:
General Dynamics acquired Bluefin Robotics, a manufacturer of large-bodied unmanned vehicles, in
February 2016
Boeing acquired Liquid Robotics, maker of a wave and solar-powered autonomous robot, in December
2016, reportedly for a consideration in the hundreds of millions of dollars
L3 Technologies acquired OceanServer Technology, a Massachusetts-based manufacturer of
autonomous unmanned undersea vehicles (UUVs), in April 2017
L3 Technologies acquired Open Water Power, a Massachusetts-based company that develops high-
density aluminium batteries for unmanned undersea vehicles, in May 20172
RECENT DEVELOPMENTS
Since the IPO Aquabotix has been executing its Business Plan, with progress made in the following areas:
1. Sales
Multiple sales, at a higher order value run-rate, including a sale of a highly customized
A$125k unit to the US Navy, won in a competitive tender process. This is a repeat sale to the
US Navy, providing further proof of the product capability and client satisfaction.
Company’s products now being available to U.S. Government buyers seamlessly, through
the GSA Schedule.
2. Product
Launched Live Remote Viewing technology, applicable to all Aquabotix products.
Announced the commencement of the development of a consumer underwater drone.
Endura Generation 3 now available with all brushless motors for increased responsiveness
and power.
3. Team - made a number of key hires, including:
Derek Daly, Chief Operating Officer; an unmanned systems, robotics and automation
specialist with over 30 years’ experience in the defence and commercial sectors. Previously
at Comark, QinetiQ and Northrop Grumman.
Jeff LaClaire, Vice President Global Sales; over 20 years sales and business development
experience specializing in drones and sports. Previously at Drone Sports Association/ESPN
Alliance, CBS Corp. and Atlanta Falcons.
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WHY UNDERWATER DRONES?
4
There are three types of UUVs or underwater drones:
1. Remote Operated Vehicles (ROVs) (require an operator);
2. Autonomous Underwater Vehicles (AUVs) (no operator required); and
3. Hybrid Autonomous/Remote Vehicles (ARVs or Hybrids) (can be run by operator or autonomously).
The global unmanned underwater vehicle (UUV) market is expected to reach US$4.0 billion by 2020 according to Markets and Markets. This growth can be partly attributed to growing deep-water offshore oil and gas production, rising demand for maritime security and an increased need for ocean data and mapping.
The ROV market is expected to have a compound annual growth rate of 20.11%. The AUV market is expected to have a compound annual growth rate of 31.95%.
INDUSTRY VERTICALS
5
Vertical Market Dynamics
Prior
Aquabotix
Sales
Customers Include
Defence• US DoD to invest as much as much as US$4.4bn in
UUVs to support unmanned mine countermeasure
vehicles US Navy & Canadian Navy
Law Enforcement & Public Safety• Use of underwater vehicles for search and rescue
• Inspections for contraband US Customs & Border Patrol, US Coast
Guard & New Rochelle Police Dept.
Marina & Boat Underwater Inspection• Inspections by UUVs save cost by reducing dry-docking
• Minimizes risk to human divers Hyannis Marina (Massachusetts) and
Vortex Marina (Italy).
Marine Inspection & Construction• Underwater vehicles used for pre-work inspections and
real-time support for workers California Department of Transportation
(CALTRANS
Potable Water Management• Safety gains and efficiency gains
• No need to drain tanks and reservoirs Pittsburgh Tank & Tower Group
Power Plant Management• UUVs equipped with sonar and light detection and
ranging (LIDAR) can be used to help discover anomalies ConEdison
Fish Farming and Aquaculture• Farmed fish have surpassed caught fish supplies
• New mega farms underway in Chile, Norway & Australia
• Can reduce number of divers required by 66% Various
Research and Marine Biology• UUVs can be equipped with a wide array of scientific
sensors, enabling them to monitor aquatic conditions Virginia Institute of Marine Science
Consumer / Retail• Lagging aerial drones by 5-7 years
• Yet to be properly opened up Various
Port Security• Thousands of ports and sea harbors globally
• Security and scanning in high-demand US Customs and Border Patrol and US
Coast Guard
Pipeline Inspection• Significant cost reductions sought by infrastructure
owners and operators BP, Con Edison, Corrosión y Protección
(Mexico) and Duke Energy
Undersea Mining• The next frontier for resource exploitation
• Autonomous surveys the first wave in this space - NA
COMPANY BACKGROUND
PRODUCTS
Endura: Engineered for a wide
range of underwater applications.
Five high torque motors allow
Endura similar maneuvering
underwater to that of a
helicopter.
1080p True HD Camera with
Pan and Tilt and high intensity
LED lighting (4400 Lumens).
Comes with a 100 meter depth
rating and four pounds of
payload, which can be upgraded
to 300 meter depth rating and
eight pounds of payload.
Can be configured and ready for
Retails for US$17,000 to
US$100,000.
Dimensions: 37 cm x 70 cm x 30
cm
Endura
The Hybrid ARV searches wide
areas using AUV mode and
conducts detailed inspections
using ROV Mode.
When running the vehicle in
autonomous operation, all
mission planning is completed in
an intuitive windows based
application.
5 High Torque motors capable of
transferring 8 pounds of payload
The standard model has a 100
meter depth rating, but can be
upgraded to reach 300 meters.
Comes with a 1080p True HD
quality 60 degree Pan and Tilt
Camera with 4X Zoom
capabilities.
Dimensions: 37 cm x 109 cm x
30 cm (W x L x H)
Hybrid
HydroView: Remote controlled
underwater vehicle that records
live video and captures still
photos in high definition.
Easy controls require no formal
training. HydroView can be
controlled by the on-screen
controls from an iPad, a laptop
keyboard, or with a video game
controller.
Three high torque motors allow
HydroView similar maneuvering
underwater to that of a plane.
HD Live Video feed is great for
boat and mooring inspections,
underwater explorations, as well
as for educational purposes.
Retails for US$5,900 to
US$9,000
Dimensions: 37 cm x 48 cm x 18
cm (W x L x H)
HydroView
AquaLens Connect captures high
quality 1080p HD color video and
still images at the click of a
button.
Transfers live feed video to the
surface on the user’s iPhone,
iPad, or Laptop computer
through Wi-Fi or Ethernet
connection.
Can be used individually, or as a
network of underwater cameras
(network size up to 32 cameras),
viewed on one screen through
the Aquabotix proprietary
operating system.
Camera includes a pan and tilt of
120 degrees with a 8X digital
zoom.
Retails for US$1,495 plus
accessories
Dimensions: 13 cm Camera
Sphere
AquaLens
Connect
Underwater technologies typically lag land and aerial technologies by six to ten years.
There have been huge strides in the unmanned land and aerial vehicle (drone) industries but the underwater robotics industry has lagged.
Unmanned aerial vehicle (drone) global market has increased from US$2.9 Billion in 2005 to US$7 Billion by 2015 at a CAGR of 9.2%, and is projected
to increase to US$21.23 Billion by 2022 according to MarketsandMarkets. The market leader in the low cost aerial drones space, DJI, had US$1 billion in
sales in 2015.
Unmanned Underwater Vehicle (drone) market is projected to grow to US$4.0 billion by 2020.
Similar applications to drones on land are needed underwater, such as: defence, law enforcement and public safety, marina and boat underwater
inspection, marine inspection and construction, port security, pipeline inspection, potable water management, power plant management, fish farming
and aquaculture, research and marine biology, undersea mining, and the consumer space.
Aquabotix is one of the limited number of manufacturers of cost-effective commercial-grade UUVs, and the only manufacturer of Hybrid UUVs
available to consumers, governments and real asset owners.
Defence:
– The world’s militaries currently use the most AUVs; commercial applications are forecasted to represent 9% of the AUV market by 2018.
– Used for: underwater mine search, intelligence collection, surveillance, and reconnaissance.
– Over 90% of the world’s goods are transported by sea. Naval mines that block access to harbors can damage economies and pose danger to
commercial and military vessels.
– Over 400,000 naval mines in the hands of U.S. adversaries, left over from prior wars and staying active for years after the conflict has ended.
Neutralizing cheap naval mines is difficult, dangerous, and expensive.
– Over 500 ships have been lost in mine-related accidents following World War II. Removing a single naval mine can cost 100 to 200 times more
than its manufacturing and deployment costs.
– UUVs hold the potential to scour the sea for hostile submarines and warships.
– The U.S. Navy is investing 22% of its science and technology dollars on the underwater domain and recently announced that it would invest
up to US$1.43 billion to support unmanned mine countermeasure vehicles.
MARKET DYNAMICS
8
Law Enforcement & Public Safety:
– Example: on October 1, 2015, cargo ship El Faro sank during a hurricane off the coast of the Bahamas. A towed Remotely Operated Vehicle (ROV)
with a video camera was used to identify the vessel.
– Example: Indiana conservation officers use remotely operated vehicles (ROVs) to search for possible missing persons and drown victims in an
effort to reduce search time significantly.
Marina & Boat Underwater Inspection:
– UUVs offer a fast and effective way to perform dock and boat inspections, minimizing labor cost.
– UUVs have the added benefit of being small enough to fit into tight spaces inaccessible to human divers.
Marine Inspection and Construction:
– Used for maintenance and repair.
– Proposed renewable energy projects such as the European Supergrid, could require a network of marine cables stretching thousands of kilometers of
undersea cables. 99% of all global communications occurs via marine cabling.
– Underwater cabling systems are required to deliver offshore power to the mainland. Routine inspections of these cables are critical to ensure they are
seated properly to mitigate risks such as the entangling of fishing nets, causing boats to sink.
Port Security:
– In the post-9/11 era, the security of sea and river ports became an issue of great and pressing public concern. There are 360 commercial sea and
river ports in the United States alone, and those ports handle approximately one-fifth of the global maritime trade. These ports handle more than
70,000 large ships (and an innumerable plethora of smaller craft) annually, carrying more than two billion tons of cargo in and out of the United
States. Securing and ensuring the safety of that much traffic is a job of substantial magnitude.
– ROVs like Aquabotix’s Endura 100 SLE ROV can be equipped with 360-degree scanning sonar, allowing the ROV to see things where a human
diver would be helpless. In addition, ROVs can engage in much longer dives than humans. This allows exhaustive search scenarios that would be
extremely expensive if human divers were deployed.
MARKET DYNAMICS (CONTINUED)
9
Pipeline Inspection:
– Industrial UUVs can use manipulators to cut and lay pipe, make and break hydraulic connections, lay and retrieve cable, lubricate underwater
machinery, carry heavy tools for human divers, conduct trenching operations, and operate machinery like valves and levers.
Potable Water Management:
– For both giant municipal potable water supply facilities and small private tanks like facility storage tanks – UUVs offer a number of advantages over
other methods: tanks don’t need to be drained, no risk to human divers or the water system, low barrier to entry, built in data gather, and increased
frequency of monitoring.
Power Plant Management:
– At hydroelectric facilities and dams - a cost-effective alternative to dewatering to perform inspection and/or maintenance work, as well as needed
repairs
– UUVs equipped with sonar and LIDAR can be used to help discover anomalies that may warrant further inspection. Instead of relying on calendar-
based maintenance, owners of dams and hydro plants can use UUV inspections to identify if and where maintenance and repair work is required, thus
saving the company money by avoiding unneeded work.
Fish Farming and Aquaculture:
– Aquaculture and fisheries are a major source of the world’s protein production, and aquaculture production is growing at tremendous rates.
– Aquaculture facilities require careful monitoring on a number of important parameters. The environment needs to be monitored for water quality,
temperature, current, etc. The operators need to inspect hardware such as nets and cages to count fish and check nutrient levels. This is often done
by human labor, which is fine if the facility is on shore, but impractical when it’s far offshore. Underwater cameras and UUVs are a very efficient
option.
Research and Marine Biology:
– UUVs can be equipped with a very wide array of top-quality scientific sensors, enabling them to monitor aquatic conditions just as well as sensor buoys
or shore stations.
MARKET DYNAMICS (CONTINUED)
1 0
Undersea Mining:
– In 2012, the European Commission estimated that global annual turnover from seabed mining could grow to €10 billion by 2030. Concerns
about supply security and technological advances that enable seabed mining should drive this growth.
– In 2013, British Prime Minister Cameron outlined a vision to make the United Kingdom the leader in seabed mining, stating that seabed mining
could contribute £40 billion to the British economy through 2030.
– The European Commission forecasted that 5% of the world’s minerals, including cobalt, copper and zinc, could come from the ocean floors by 2020
with this share rising to 10% by 2030.
– There are now 1.2 million square kilometers of ocean floor under 26 mining permits for prospecting.
– UUVs are expected to be the dominant mover in seabed mining.
Consumer:
– The consumer market for UUVs and industrial-strength underwater cameras has not yet been tapped in any meaningful way. Uses include fishermen
(searching for fish), treasure hunters (the United Nations estimated that over 3 million wrecks are sitting at the bottom of the ocean), recreational and
other.
MARKET DYNAMICS (CONTINUED)
1 1
INDUSTRY USES
1 2
INDUSTRY USES (CONTINUED)
1 3
Defence
Navy Seeking Unmanned Underwater
Advances To Field Today, To inform
Next Generation Sub Design in 2020s
(Persian Gulf, October 2016)
Intelligence experts approach industry for
UUV (Unmanned Underwater Vehicle)
networks for covert surveillance of
shipping (Washington, June 2016)
DOD plants to invest $600m in
unmanned underwater vehicles
(California, February 2016)
Russian Navy developing unmanned
‘drone’ boats (Russia, January 2016)
Development of UUV (Unmanned
Underwater Vehicle) Mine Hunters
Challenges U.S. Navy (United States,
April 2015)
Law Enforcement & Public Safety
Indiana Officers use drones to aid in
underwater searches (Indiana, October
2016)
EgyptAir plane crash investigators use
underwater ‘submarine drone’ as they
hunt missing black boxes (Mediterranean
Sea, May 2016)
The Innovators: the swarm of sea drones
sniffing out drugs and mines
(Massachusetts, January 2016)
Sea Drone locates missing cargo ship
(The Bahamas, October 2015)
Marina & Boat Underwater Inspection
Shell uses ROV system for underwater
inspections (North Sea, November 2016)
The Importance of Hull Inspections for
Large Ships & the Use of ROVs (August
2016)
In-water bottom surveys by means of
remotely operated underwater vehicle
(ROV) (Norway, November 2015)
Shipyard uses drones to inspect cargo
tank interior (Poland, September 2015)
INDUSTRY USES (CONTINUED)
1 4
Marine Inspection and Construction
Local Firm Aids Wind Farm Setup
(United States, August 2016)
Venezuela uses a ROV to inspect Guri
Reservoir infrastructure amidst water
level decline (Venezuela, September
2015)
Using an ROV to Repair a Leaking Surge
Shaft (Bhutan, October 2014)
Remote Surveillance of dams (Toronto,
April 2014)
Port Security
Rotterdam Port Tests In-Water Drones
(Netherlands, September 2016)
ROVs and Port Security (United States,
March 2016)
Port Security to Use Underwater Robots
to Monitor Ships, Cargo (United States,
December 2014)
Underwater robot may become
smuggler’s worst enemy (Massachusetts,
September 2014)
Pipeline Inspection
Drones Carry out Underwater robotic
inspection for oil and gas industry (India,
October 2016)
Parts of pipelines under Mackinac Straits
not properly supported – Inspection of
the twin pipelines using ROV (Remotely
Operated Vehicle) and an AUV
(Autonomous Underwater Vehicle) (Lake
Michigan, August 2016)
Getting to the bottom of subsea repairs –
Older pipelines need more attention, and
operators need a repair strategy (United
States, March 2016)
INDUSTRY USES (CONTINUED)
1 5
Potable Water Management
Drone optimises potable water tank
inspections with new remotely operated
vehicle (ROV) service (United States,
May 2016)
Italian Underwater Robot Breaks New
Ground in Water Monitoring (Italy, April
2016)
Five Advantages of ROVs for Tank
Inspections (United States, February
2016)
Power Plant Management
AES Looks to Drones and Robots for
Inspecting Power Plants in Extreme Heat
(United States, November 2016)
Mini-ROVs: The Coal-Fired and Nuclear
Power Plant Inspection Solution (United
States, June 2016)
Leveraging Drones and Robots for Power
Plant Operations and Maintenance
Savings (United States April, 2016)
Researchers develop drone technology
for power plant inspection (University of
Georgia, November 2015)
Fish Farming & Aquaculture
Stationary Mounted Cameras in
Aquaculture and Fisheries Monitoring
(United States, November 2016)
Drones helping to count crabs (United
Kingdom, October 2016)
Underwater Drones improving Shellfish
aquaculture (Canada, July 2016)
Canadian Fish Farm Describes Use of
Underwater Drone (Canada, May 2016)
Upgraded ROV for aquaculture (United
States, February 2016)
INDUSTRY USES (CONTINUED)
1 6
Undersea Mining
Mass-produced underwater vehicles –
Autonomous underwater vehicles are
essential to tasks such as exploring the
seabed in search of oil or minerals
(Virginia, February 2016)
These giant robots will mine the ocean
floor for gold, silver, and copper (Papa
New Guinea, December 2015)
Deep Sea Mining: AUV to help unlock
hidden resources (United Kingdom,
January 2015)
Consumer
What Drones Did for the Sky, Robot
Subs Are About to Do for the Sea (United
States, September 2016)
Affordable drones are the new wave of
underwater exploration (United States,
June 2016)
New Mini Inspection Class ROV: The
Endura (United States, May 2016)
Small UUVs Make a Splash – The
Underwater Domain is Catching a Wave
of New Platforms (United States,
February 2016)
Research & Marine Biology
New Underwater Drones Make Waves
For “Citizen Scientists” (Indian Ocean,
November, 2016)
Performing Aquatic Monitoring – utilize
ROVs as the data collection platforms
(United States, August 2016)
Aquatic Robots Help Scientists
Understand Monsoons (United Kingdom,
June 2016)
Drones from Hawaii could help save
$1.27 billion in marine damage
costs(Hawaii, December 2015)
BIOGRAPHIES | BOARD AND MANAGEMENT
1 7
Peter James, Non-Executive Chairman
Mr. James has over 30 years’ experience in the Technology, Telecommunications and Media Industries, and has extensive
experience as Chair, Non-Executive Director and Chief Executive Officer across a range of publicly listed and private
companies. He is currently Chair of ASX-listed companies Macquarie Telecom Ltd, nearmap Ltd, Dreamscape Networks
Ltd and DroneShield Ltd.
Mr. James has recently completed 12 years as a Non-Executive Director for ASX-listed iiNet, Australia’s second largest DSL
Internet Services Provider, chairing iiNet’s Strategy and Innovation Committee. iiNet was recently acquired by TPG Telecom for
A$1.56B.
He is a successful investor in a number of technology businesses in Australia and the US.
Mr. James is an experienced business leader with significant strategic and operational expertise. He is a Fellow of the Australian
Institute of Company Directors, a Member of the Australian Computer Society and holds a BA Degree with Majors in Computer
Science and Business.
Hon. Jay M. Cohen, Rear Admiral, United States Navy (Ret.), Non- Executive Director
Admiral Jay M. Cohen is a former Chief of Naval Research (United States Navy) and has served as the Department of the
Navy Chief Technology Officer.
Admiral Cohen is a graduate of the United States Naval Academy. He holds a joint Ocean Engineering degree from Massachusetts
Institute of Technology (MIT) and Woods Hole Oceanographic Institution and Master of Science in Marine Engineering and Naval
Architecture from MIT. Earlier in his career, he commanded USS Hyman G. Rickover and served on the U.S. Atlantic Fleet before
commanding the submarine tender USS L.Y. Spear including a deployment to the Persian Gulf in support of Operation Desert
Storm.
Admiral Cohen was promoted to the rank of Rear Admiral in 1997 and reported to the Joint Staff as Deputy Director for Operations
responsible to the President and Department of Defense leaders for strategic weapons release authority. In June 2000, he became
the 20th Chief of Naval Research. He served during war as the Department of the Navy Chief Technology Officer, responsible for
the $2B+/year Navy and Marine Corps Science and Technology (S&T) Program. Unanimously confirmed by the US Senate, he was
sworn in as Under Secretary for Science & Technology at the Department of Homeland Security in 2006. Since leaving government,
Admiral Cohen serves on corporate boards and is an independent consultant for science and technology in support of U.S. and
international defence, homeland security and energy issues and solutions.
BIOGRAPHIES | BOARD AND MANAGEMENT (CONTINUED)
1 8
Durval Tavares, Chief Executive Officer and Managing Director
Brendan Martin, Chief Financial Officer and Director
Mr. Martin brings extensive experience in the Australian financial and industrials sectors across the Australian market.
Most recently Mr. Martin was General Manager Strategy & Investments at Broadspectrum Ltd, which was acquired by Ferrovial
Servicios in May 2016 for an enterprise value of A$1.3 billion. Prior to Broadspectrum, Mr. Martin ran Bergen Capital’s Australian
office, and held banking and advisory roles with Investec Bank and Citi. Mr. Martin began his career with PricewaterhouseCoopers
in the insolvency and valuations practices.
Mr. Martin holds a Bachelor of Commerce from the University of Sydney, is a Chartered Accountant with the Institute of Chartered
Accountants in Australia, and holds a Graduate Diploma in Applied Finance from FINSIA/Kaplan.
Mr. Tavares is CEO of Aquabotix, which he co-founded in 2011, and has served in that capacity since its inception.
Mr. Tavares has over 30 years of successful business and entrepreneurial leadership experience in technology, defence and
finance organizations in both the private and public sectors.
Mr. Tavares has logged over 20 years working with underwater technology, including AUV, ROV, submarine and torpedo systems
development for advanced defence projects and private contractors. His work at the Naval Underwater Warfare Center on
submarine technology included several patents in his name.
While at Fidelity Investments for 10 years, Mr. Tavares was a senior executive responsible for leading new product development for
the financial services giant.
Mr. Tavares earned his BSEE in Electrical Engineering from the University of Massachusetts, graduating first in his class. He has
made frequent presentations to technical and motivational forums and is active in mentoring programs.
BIOGRAPHIES | BOARD AND MANAGEMENT (CONTINUED)
1 9
Derek Daly, Chief Operating Officer
Mr. Daly brings substantial engineering, manufacturing and defence contracting experience to the team.
Mr. Daly is an unmanned systems, robotics and automation specialist with over 30 years’ experience in the defence and
commercial sectors. Most recently Mr. Daly was President and COO at Comark LLC, a defence facing ruggedized industrial
computer manufacturer. Previously, he served as Vice President (Land Systems) at QinetiQ North America, a division of
QinetiQ Group Plc (LSE:QQ.) (“QinetiQ”) and Group Director Unmanned Systems at Foster-Miller, which was acquired by
QinetiQ. QinetiQ is a London Stock Exchange-listed science and engineering company with a primary focus on defence and
security and an approximately A$2.7 billion market capitalization. Mr. Daly’s responsibilities at the approximately US$100
million Land Systems division included multi-site responsibility for a staff of approximately 60 engineers, sales, business
development and program management personnel. Mr, Daly spent his early career at Northrop Grumman Corp. and American
Semiconductor.
Mr. Daly received a Bachelor of Mechanical Engineering Technology, magna cum laude, from Northeastern University, Boston.
RECENT PRESS CLIPPINGS
2 0
Bloomberg Government – January 23 2017
Aquabotix mentioned as a commercial producer of
UUVs in relation to new delivery methods being
considered. The U.S. plans to invest US$600 million
over five years in variable size and payload UUVs.
Zimbio – 2 December 2016
Aquabotix Director Jay Cohen, a retired Rear Admiral
of the U.S. Navy, meets with President Elect-Donald
Trump and his transition team in New York City.
Motley Fool – May 2017
Popular Australian retail investor website places
UUV on the “hot IPO” and “exciting small-cap
share” lists.
Financial Review – March & April 2017
Various pre-IPO and IPO related articles.
CAPITAL STRUCTURE
2 1
ShareholdersShares
(ASX:UUV)
Listed Options
(ASX:UUVO)
Performance Shares and
Unlisted Options
Shareholders 135,000,001 35,000,000 45,000,000
Options issued to Directors, Management
and Advisory Board, and Lead Manager- - 21,400,000
Total 135,000,001 35,000,000 66,400,000
UUV Aquabotix Ltd raised A$7 million on the ASX in April 2017, in an oversubscribed offer, through the issue of
35 million shares at A$0.20 per share:
Enterprise Value
UUV shares1 A$0.14 / share A$18.9m
UUVO options1 A$0.03 / option A$1.1m
Cash As at 2 June 2017 (A$6.0m)
Debt As at 2 June 2017 nil
Enterprise
ValueExcluding unlisted options A$14.0m
Notes:1 As at 9 June 2017
Aquabotix’s Endura in action
IMPORTANT CAUTIONARY NOTE
2 2
The information contained in this document is for information purposes only and does not constitute financial product
advice, legal advice, an offer to sell, or a solicitation of an offer to purchase, any securities. This document contains
"forward-looking statements”. Forward-looking statements include information concerning growth, pricing, future
strategic objectives, business prospects, industry or market conditions, demand for and pricing of our products,
regulatory developments and general economic conditions. In addition, words such as “believes,” “expects,”
“anticipates,” “intends,” “plans,” “estimates,” “projects,” “forecasts,” and future or conditional verbs such as “will,” “may,”
“could,” “should,” and “would,” as well as all other statements that necessarily depend on future events, are intended to
identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks,
uncertainties and assumptions. Although UUV Aquabotix Ltd (“UUV”) make such statements based on assumptions that
it believes to be reasonable, there can be no assurance that actual results will not differ materially from those expressed
in the forward-looking statements. UUV cautions investors not to rely unduly on any forward-looking statements and
expressly disclaims any obligation to update any forward-looking statement in the event it later turns out to be
inaccurate, whether as a result of new information, future events or otherwise. Particular uncertainties that could cause
UUV’s forward-looking statements to be materially different from what transpires in the future include: patent approval
(or a lack thereof), pricing of product, customer acquisition, team expansion, ability to compete, changes in law,
economic and financial conditions, availability and cost of funding, the impact of regulation and regulatory, investigative
and legal proceedings and legal compliance risks, press coverage, and other factors. This document is subject to
modification and amendment from time to time. The delivery of this document shall not, under any circumstances,
create any implication that there has been no change in the affairs of UUV since the date hereof, or that the information
herein is correct as of any date subsequent to the date hereof. To the full extent permitted by law, none of UUV's,
Aquabotix Technology Corporation’s or any of their respective shareholders or members, or any shareholders,
members, partners, directors, managers, officers, employees, advisers, counsel, agents or other affiliates of UUV,
Aquabotix Technology Corporation or any of their respective shareholders or members, or any party involved in creating,
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