Radix Marine Gains Competitive Advantage
Radix Marine, Inc., a marine vessel development company specializing in port and homeland security and defense initiatives, announced that it has signed a letter of intent to enter into an exclusive Development, License, and First Right of Refusal Agreement with GSE, Inc. for the marine application of the company's high power density compression ignition TSIO 1255 engine series. GSE, recently awarded a grant by the U.S. government for the initial development phase of the TSIO 1255 compression ignition heavy fuel engines (CIHFE), has been in the heavy fuel engine development business for twelve years and is utilizing proprietary technology to develop lighter and smaller high power density CIHFE. GSE's products seek to meet the market demand created by U.S.
Radix Marine Signs Propulsion Deal
Radix Marine, Inc., a marine vessel development company specializing in port and homeland security and defense initiatives, signed a letter of intent to enter into an exclusive Development, License, and First Right of Refusal Agreement with GSE, Inc. for the marine application of the company's high power density compression ignition TSIO 1255 engine series. "We believe that by acquiring the exclusive right to license the marine applications of GSE's heavy fuel engines, Radix Marine will gain a sustainable competitive advantage for the company's watercraft in the military and port security marketplace," said Scott Edwards, Radix Marine Vice President.
Radix Marine Signs Contract to Build Prototypes
Radix Marine, Inc., a marine vessel development company specializing in port and homeland security and defense initiatives, signed a contract to build two prototype manned vessels with a marine technology company, Advanced Marine Concepts, formed by Philip Whitener, a retired Boeing test engineer and Eric Anderson, CEO of Art Anderson Associates. The boats will be built in Radix Marine's new manufacturing facility, making them the first such orders to be produced by the facility. The prototype vessels are for a proprietary project being developed by Advanced Marine Concepts, and will use patented technology designed by the firm. Production on the vessels, codenamed "Dragonfly," will begin immediately.
Radix Marine to Acquire Patrol Craft Prototype
Radix Marine, Inc, a marine vessel development company specializing in homeland defense initiatives, announced today that it has entered into an agreement to acquire, through an Equipment Lease and Purchase Agreement, the GB Challenger Class Craft, the working prototype of the company's high-speed unmanned patrol watercraft. Radix Marine will own the GB Challenger outright at the conclusion of the five-year lease with Blue Ribbon Leasing and Financial, Inc., which acquired the craft from the builder. Radix Marine had previously arranged for the lease of the GB Challenger but decided against finalizing the agreement in lieu of focusing its efforts on other markets.
