Forum Energy Technologies, Inc. (NYSE: FET) announced today that it executed a contract to supply a state-of-the-art submarine rescue vehicle system (“SRV”) for use by the Indonesian Navy. The contract comprises an SRV, a launch and recovery system, and a decompression system.
Neal Lux, President and Chief Executive Officer, remarked, “With 50 years of experience, FET has pioneered the development of manned and unmanned submersibles, and has supplied defense equipment and services to various countries across Europe and Asia. Our cutting-edge technologies remain at the forefront of the subsea sector and the safety systems of choice for military and naval forces around the world. This award also showcases the breadth of our product portfolio and extensive technology capabilities across many differentiated end markets. Building on our successful track record, we are excited to work on this important project.”
Product Details:
The new LR600 model SRV, a piloted rescue submersible, will be capable of operating at depths of up to 605 meters, carrying 20 people, and will be fully integrated with a hyperbaric rescue facility. The SRV will also utilize the latest technologies to locate a distressed submarine and quickly transfer personnel. State of the art sensors and sonar are fully embedded into the FET systems to deliver advanced functionality, including automatic depth, heading, and piloting capabilities. Sea trials are planned for 2028.
The SRV will be built at FET’s Kirkbymoorside, Yorkshire, England facility and the bespoke LARS will be manufactured at FET’s Bryan, Texas facility.
FET® is a global manufacturing company, serving the oil, natural gas, industrial and renewable energy industries. With headquarters located in Houston, Texas, FET provides value added solutions aimed at improving the safety, efficiency, and environmental impact of our customers' operations. For more information, please visit www.f-e-t.com.
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Contacts
Rob Kukla
Director Investor Relations
281.994.3763
Rob.Kukla@f-e-t.com
