Blue Water Ventures International, Inc. (BWVI) announced that the company will be expanding its recovery efforts to include deeper underwater targets, including merchant ships from WWI and WWII. These shipwrecks are in both U.S. and International waters.
Given the higher costs associated with deep water salvage, each project will require significant funding that the company will have to raise on its own or with deep water joint venture partners. The company has obtained several targets of interest, and intends to immediately begin the requisite survey and archeological review to further refine these targets of interest prior to raising the capital needed to engage in these recovery operations.
Keith Webb, the company's President stated, "Creating a unit of Blue Water that explores deeper underwater sites certainly has its challenges but we are encouraged that our research and due diligence will provide our team with the best opportunity for financial success.