Blue Water Ventures International, a historic shipwreck research and recovery company, has entered an agreement with Under Marine Group to joint venture on future deep water wreck sites located in and around the waters of Great Britain and the Caribbean.
Blue Water and Under Marine Group will be collaborating with shipwreck researchers to pinpoint locations of interest.
Under the terms of the agreement, Under Marine will be responsible for funding deep water wreck operations and project specific research, and Blue Water will be responsible for additional research, technical project management and logistical overview.
Blue Water CEO Keith Webb states, "Blue Water is looking forward to the opportunities this joint venture will provide for both Companies." Under Marine Group's Director Richard Smith
is quoted as saying, "This is the perfect marriage of research and technical ability which will enable both companies to maximize their potential."
Under Marine Group is a team of world class, deep water salvage engineers and researchers who have compiled comprehensive research information on valuable commodities on vessels sunk in both the First and Second World Wars.
Blue Water is engaged in the business of conducting archaeologically sensitive recoveries of cargo and artifacts from various shipwrecks. Its operations to date have focused on shallow water search and recovery projects in less than 150 feet of water.
This joint undertaking will enable Blue Water to branch out into deeper water wrecks that were previously inaccessible to the Company.