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Deep-sea Submersible Purchase by OceanGate

OceanGate Inc., provider of deep-sea manned submersible solutions, buys 3-person, diesel-electric submersible 'Lula'f rom Portugal's Rebikoff-Niggeler Foundation. The submarine, which can operate at a depth of 500 meters (1,640 feet), was purchased to meet the increased demand for manned submersibles in commercial applications focused on biological and environmental surveys, monitoring, and inspection.