REG - SRT Marine Systems - Commencement of Indonesian Coastal Project

SRT Marine SystemsAnnouncement

27/05/2025 07:00

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RNS Number : 0725K  SRT Marine Systems PLC  27 May 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS
DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF
MAR.

 

 

SRT MARINE SYSTEMS PLC

(AIM: SRT)

("SRT" or the "Company")

 

Commencement of Indonesian Coastal Surveillance Project

SRT Marine Systems plc ('SRT'), a global provider of maritime domain awareness
systems and technologies for security, safety and environmental protection, is
pleased to advise that the inter-government project finance loan agreement and
other contract condition precedents have been finalised and therefore the
€167m National Maritime Security System ('NMSS') project  with the
Indonesian Coast Guard (Bakamla) has now commenced. The first shipments will
commence immediately. The project will be implemented in multiple phases over
a period of approximately 2 years followed by 8 years of ongoing support,
maintenance and data services.

The NMSS project is the delivery of an initial SRT-MDA System, to establish an
advanced integrated national maritime surveillance, command, control and
communication capability for the customer. It will enable continuous and
persistent real time and near real time surveillance of the entire EEZ and all
territorial waters and provide SRT proprietary AI driven intelligence and
insight on maritime activities such as illegal fishing, smuggling and maritime
safety. The SRT system also provides a national marine data integration
platform which will interconnect all national marine agencies.

The project entails the establishment of multiple command centres, strategic
multi-sensor coastal surveillance towers, long range drones and patrol vessel
surveillance  integration, all of which are fully integrated as an SRT-MDA
system as a single maritime C5iSR system.

The system provides a future proof foundation for further continuous expansion
of their national marine surveillance, intelligence and management capability
in the years to come.

Simon Tucker, CEO of SRT Marine Systems, commented:

"I am delighted that the €167m NMSS project has now started.

Indonesia is a fast moving, ambitious, high growth economy with a massive and
complex marine domain, and our customer has the considerable challenge of
effectively and efficiently managing it.

This project delivers a sovereign national capability owned and operated by
the government of Indonesia that enables them to build up a massive national
dataset within a system they own, control and operate that has highly
configurable functionalities to provide deep insight. Furthermore, the
flexible AI powered architecture of the SRT-MDA System enables them to
continue to grow and evolve the system in the future alongside their
ever-changing operational needs and scale.

We look forward to a long and mutually beneficial sovereign partnership with
Indonesia."

 

 For further information, please contact:
 SRT Marine Systems plc                                      www.srt-marine.com (http://www.srt-marine.com)

                                                             + 44 (0) 1761 409500
 Simon Tucker (CEO)                                          simon.tucker@srt-marine.com (mailto:simon.tucker@srt-marine.com)
 Kevin Finn (Chairman)                                       Kevin.finn@srt-marine.com (mailto:Kevin.finn@srt-marine.com)
 Cavendish Capital Markets Limited (NOMAD & Broker)
 Jonny Franklin-Adams / Teddy Whiley (Corporate Finance)     +44 (0) 20 7220 0500
 Tim Redfern (Corporate Broking)
 Yellow Jersey PR
 Charles Goodwin / Annabelle Wills                           +44 (0)774 7788 221

                                                             srt@yellowjerseypr.com (mailto:srt@yellowjerseypr.com)

About SRT Marine Systems plc:

SRT Marine Systems PLC is an established leader in the growing global market
for maritime domain awareness. We provide technology driven solutions for
coastal and EEZ surveillance, fisheries management and monitoring and
navigation safety and efficiency. Our customers range from government agencies
such as Coast Guards, Fishery Authorities and Ports & Waterway authorities
to commercial and leisure vessel owners.

 

 

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