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Description

Business Description

Coral Partners, LLC. produces the only arcuate winged underwater remotely operated vehicle (ROV) for asset protection and inspection. Nova Ray®, with its patented wing design, solves long-time industry struggles with cable drag in strong currents and cross currents. Its hydrodynamic features create unequaled ocean and river maneuverability, stability and performance. Its multi-use platform meets the need for security inspection of critical infrastructure in communities, regions, government agencies and military worldwide.

Employees

7 employees; contractors for engineering, software, design, production and sales.

Corporate Structure

Washington Corporation incorporated January 15, 2003.

Parent Company

Coral Partners, LLC. is a subsidiary of Nova Marine Exploration, Inc., founded in 1992.

Business Background

Through extensive experience in commercial underwater exploration and recovery, management recognized the need to improve the economic and operating characteristics of existing ROV technologies. The Nova Ray® evolved from 7 years of R&D and five developmental phases.

Patent Protection

Extensive protection: Utility and design patents are granted, allowed or pending. This includes patent protection for the arcuate (bow shaped) wing design.

Products

Coral Partners, LLC. produces four ROV models for a wide range of applications. A patented channel and rail system allows for the addition of user-specified peripheral devices (i.e., manipulators, sensors, hydrophones).

Customers

Marine contractors and corporate clients for oil, gas, utilities, telecom and shipping, commercial divers. Emerging market customers include all of the above that are focusing on this market as well as homeland security, military and government agencies worldwide. Applications include survey and inspections for port security, ship hulls and waterways. Critical infrastructure protection includes bridge, dam and reservoir inspections, scientific research, security, fishing, oceanography, civil engineering, and environmental and mineral prospecting.

Target Markets

Harbor security, oil, gas and telecom, utilities, public agencies for marine environmental surveys, marine forensics and investigations, dams, bridges and reservoirs inspections, and emergency response for waterways. Others: Multinational corporations, small business, environmental, military, research, recreation and leisure.