Shark Mitigation Systems (ASX: SM8)
While Shark Mitigation Systems (ASX:SM8) has been working closely with Australian officials in the roll out of its shark mitigation technology across the country, it has also been eyeing off a roll out in the US.
Its endeavours across the Pacific look to be paying off, as SM8 recently announced the support of United States federal congressman, Dana Rohrabacher, for a pilot project involving the Clever Buoy technology.
US government involvement with SM8’s technology provides the company with strong vindication as it focuses on expanding the product throughout the US market.
SM8 is currently working with Orange County officials in California on an integrated shark management plan, including installation of Clever Buoy systems at a further six beaches along their coastline.
This pilot installation throughout Orange County will act as a precursor to a US$10 million shark management proposal as SM8 looks to increase market share and trust in California and US states beyond.
In Australia, SM8 has spent the past 12 months building relationships with the NSW and WA State governments, with SM8 agreeing to collaborate with the NSW Government to improve shark detection on NSW beaches.
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SM8 also received further vindication of its technology when Bondi Rescue TV personality and Bondi Beach legend, Bruce ‘Hopper” Hopkins became an ambassador for the company’s clever buoy technology.
It doesn’t end there for SM8 as it looks to roll out new commercial ventures including the Seabin Project, which is developing marina cleaning technology.
SM8 is developing steadily, but with an eye on expanding through Australia and now the US, is looking to improve on its current $3 million market cap.