(MENAFN - GlobeNewsWire - Nasdaq) itemprop="articleBody">ORLANDO, FL, April 11, 2019 (GLOBE NEWSWIRE) -- Coda Octopus Group, Inc. (CODA) (Nasdaq: CODA) today reported that the Defense Advanced Research Projects Agency (DARPA) Biological Technology Office selected Northrop Grumman Corporation (NYSE: NOC) to prototype sensing capabilities using undersea organisms to assist in passively detecting and tracking undersea threats.
As part of the PALS program, Northrop Grumman will develop biological sensing hardware that has increased sensitivity for certain sensor modalities, achieving greater range. Artificial intelligence will be applied to observe patterns in the marine environment to help classify targets. Northrop Grumman is partnered with Coda Octopus, Duke University, University of Maryland, Baltimore County and the University of Memphis.
'The detection, classification and tracking of undersea objects is a critical military capability and we are excited to work with DARPA to develop this next generation approach,' said Mike Meaney, vice president, advanced missions, Northrop Grumman.
Annmarie Gayle, CODA's Chairman and CEO commented: 'We are delighted to further our partnership with Northrop Grumman on this important project for DARPA.'
About Northrop Grumman
Northrop Grumman is a leading global security company providing innovative systems, products and solutions in autonomous systems, cyber, C4ISR, space, strike, and logistics and modernization to customers worldwide. Please visit news.northropgrumman.com and follow us on Twitter, @NGCNews , for more information.
About Coda Octopus Group, Inc.
The Company, founded in 1994, manufactures and markets patented real-time 3D subsea sonar technology, the Echoscope®, which enables real-time 3D imaging and mapping in zero visibility conditions underwater, Echoscope® is used globally in numerous applications including defense, marine construction, oil and gas subsea infrastructure installation and surveys, and port and harbor security. In addition to the Marine Products business, Coda Octopus Products Ltd., CODA's two engineering businesses are Coda Octopus Colmek and Coda Octopus Martech. For further information, please visit: http://www.codaoctopusgroup.com or contact us at: .
Forward Looking Statement
This press release contains forward-looking statements concerning Coda Octopus Group, Inc. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those forward-looking statements include, without limitation, statements regarding the Company's expectations for the growth of the Company's operations and revenue. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, customer demand for our products and market prices; the outcome of our ongoing research and development efforts relating to our products including our patented real time 3D solutions; our ability to develop the sales force required to achieve our development and other examples of forward looking statement set forth in our Annual Report on Form 10-K for the year ended October 31, 2018, filed with the Securities and Exchange Commission on January 29, 2019, as amended on February 7, 2019. Coda Octopus Group, Inc. does not undertake, and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur.
CODA OCTOPUS GROUP
NORTHROP GRUMMAN Leslie Zychowski