NORBIT awarded order for multiple Guardpoint Underwater surveillance sonars

Trondheim, 20 January 2022: NORBIT today announces that NORBIT Subsea, part of segment Oceans, has been awarded an order from an undisclosed international customer for delivery of several Guardpoint surveillance sonar systems. The value of the order is approximately NOK 20 million and the systems are expected to be delivered in the second quarter of 2022.
  

“It is satisfying to announce a significant order for Guardpoint, a powerful surveillance tool effective in detecting underwater objects, which was launched last year. This is another example of how NORBIT broadens its product offering and capitalizes on our global sales and distribution platform”, says Per Jørgen Weisethaunet, CEO of NORBIT.

The Guardpoint Underwater Sonar System is a newly developed surveillance tool designed to detect targets in challenging environments. The system automatically detects, tracks, classifies and alerts to the presence of underwater objects, where one sonar offers a surveillance range of up to 1000 meters. NORBIT Subsea provides a unique offering of sonar heads at different frequencies adapting to open sea and shallow and restricted waters.

A final contract is subject to the parties agreeing on certain terms and conditions.

For more information, please contact:
Per Jørgen Weisethaunet, CEO, +47 959 62 915
Per Kristian Reppe, CFO, +47 900 33 203

About NORBIT

NORBIT is a global provider of tailored technology to selected niches, solving challenges through innovative solutions, in line with its mission to Explore More. The company is structured in three business segments to address its key markets; Oceans, Connectivity and Product Innovation & Realization (PIR). The Oceans segment delivers tailored technology solutions to global maritime markets. The Connectivity segment encompasses NORBIT's technology within low power wireless solutions both related to electronic vehicle identification for tolling and tachograph enforcement, together with a new vertical comprising of the recently acquired Hungarian software solutions provider iData, as well as NORBIT's initiatives within tailored IoT in selected niche applications. The PIR segment offers R&D services, proprietary products and contract manufacturing to key customers.

NORBIT is headquartered in Trondheim with manufacturing in Norway, has around 400 employees and a worldwide sales and distribution platform.

For more information: www.norbit.com

The information is such that NORBIT is required to disclose in accordance with the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
The information was submitted for publication by Elise Heidenreich, Investor Relations at NORBIT ASA, on 20 January 2022 at 07:00 CET.