Quantum Technology Sciences Signs DARPA Contract to Advance Marine Seismic Acoustic Technology

Rhea-AI Summary

Geospace Technologies Corporation (NASDAQ: GEOS) announced that its subsidiary, Quantum Technology Sciences, Inc., secured a $1.5 million contract from the Defense Advanced Projects Research Agency (DARPA). This contract, under the Phase II Small Business Innovative Research program, aims to enhance SADAR® capabilities for monitoring energy sources using innovative seismic-acoustic technologies. The project seeks to improve surveillance in challenging land-water transition zones, utilizing passive technologies for persistent monitoring without detection. Geospace's extensive experience in seismic data acquisition will bolster this initiative.

Positive

• Secured a $1.5 million contract with DARPA.
• Enhancement of SADAR® capabilities may lead to innovative advancements in energy source monitoring.
• Leveraging Geospace's experience in seismic data acquisition for competitive advantage.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Geospace Technologies Corporation (NASDAQ: GEOS) today announced its subsidiary Quantum Technology Sciences, Inc. signed a $1.5 million contract with the Defense Advanced Projects Research Agency (DARPA).

The contract is a Phase II Small Business Innovative Research (SBIR) to explore a new SADAR® capability using littoral seabed deployed passive seismic-acoustic phased arrays for monitoring energy sources of interest on the nearby land, water and air environments.

“Our parent company Geospace has decades of deployment experience with both cabled and nodal seismic systems in a marine environment for energy exploration. Through this project, we will blend the strength of Geospace’s experience in high quality seismic data acquisition in a littoral environment with the unmatched sophistication of Quantum’s seismic data analytics,” said Mark Tinker, CEO of Quantum Technology Sciences.

Historically, the land-water transition zone, which includes shallow littoral waters, the surf zone, and onshore terrestrial environments, is a difficult geographic zone to surveil. Overhead surveillance may provide limited time frames and discrete views of activities and can often be countered by camouflage, concealment, and deception (CCD) techniques. In contrast, surveillance using passive acoustic and seismic technologies such as SADAR® provides persistent monitoring that cannot be countered by CCD techniques and cannot be easily detected. Through this contract effort, improving upon individual unattended ground sensors, phased array networks will collect non-line-of-site signals for vibrational sources allowing separate, simultaneous target identification, classification and tracking in near real-time.

About Quantum Technology Sciences

Quantum designs and sells tactical security and surveillance solutions to safeguard highly valued assets, critical infrastructure, borders and perimeters. Since its inception in 1991, Quantum has provided valuable geophysical sensing technologies to serve various U.S. government missions to include the Department of Defense, Department of Energy, Department of Homeland Security and other agencies. For more information, visit www.QTSI.com.

About Geospace Technologies

Geospace Technologies is a global technology and instrumentation manufacturer specializing in vibration sensing and highly ruggedized products which serve energy, industrial, government and commercial customers worldwide. The Company’s products blend engineering expertise with advanced analytic software to optimize energy exploration, enhance national and homeland security, empower water utility and property managers, and streamline electronic printing solutions. With more than four decades of excellence, the Company’s more than 600 employees across the world are dedicated to engineering and technical quality. Geospace is traded on the U.S. NASDAQ stock exchange as GEOS. For more information, visit www.geospace.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230228006413/en/

Media Contact:

Caroline Kempf

ckempf@geospace.com

321.341.9305

Source: Geospace Technologies Corporation

FAQ

What is the recent contract announced by Geospace Technologies?

Geospace Technologies announced a $1.5 million contract with DARPA for exploring SADAR® capabilities.

What is the purpose of the Geospace contract with DARPA?

The contract aims to enhance monitoring of energy sources using seismic-acoustic technologies.

How does the SADAR® technology benefit Geospace Technologies?

SADAR® technology allows for persistent monitoring in challenging geographic zones that traditional methods cannot effectively surveil.

What is the significance of the $1.5 million DARPA contract for GEOS stockholders?

This contract may improve Geospace's revenue potential and market position in surveillance technology.

When was the contract with DARPA announced by Geospace Technologies?

The contract was announced on February 28, 2023.