SRT Marine Systems plc advised the completion and sign-off of Phase 1 of a substantial national coast guard maritime surveillance system contract announced in January 2022, to deliver an SRT-MDA System. The first phase of the project was completed in March 2023, and following extensive testing was formally signed off as complete this week, along with final revenue milestones and their invoices. The contract now moves on to the next two phases, worth a total of PS24 million (inc taxes), which expect to start in the summer upon completion of the required customer internal project planning and administration processes.

Both phases are expected to be implemented in parallel over approximately one year. This part of the system is now fully operational and in daily use by the customer. The SRT-MDA System's advanced Dynamic-Ai enables it to automatically detect and alert the Coast Guard to illegal maritime activities such as smuggling, unlicensed fishing, maritime border incursions, and potential threats to critical infrastructure such as undersea pipelines.

This information enables the customer to operate based upon high quality marine intelligence, thus improving the efficiency and effectiveness of operations. The project, worth a total of PS40 million, announced in January 2022, is for the delivery of the first stage of a planned national maritime surveillance system which will be built up in a series of contracts over several years.