Durval Tavares (CEO Of Aquabotix)

Durval Tavares (CEO Of Aquabotix) by The Financial Exchange


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Markets continue to fluctuate. But we've got you covered get your daily update on what time and what's not from Mike Armstrong every morning at 1030 boldly on the financial exchange radio network. On Wednesday's. Week's interview business hours until we do every Wednesday at this time we interview business over today's note ever we're joined by. Devolved to of our sees the CEO. Of Aqua box and develop thank you very much for joining us today to vote looking at your company. Explain what. A robotic dogs. So but it's his knee on the what do drone company astounding 2011. In Massachusetts and with a whole idea of how do you take things of people aware of the land and I defense from that them locally and typically put very familiar way here in triumph the whole concept of driving them and you'll see what you're doing and getting feedback. The thing that's different but on the water no one is you're in water and secondly. The second. Thing is everything with him that would in terms of white line radio signals cell phones do not work on the heat the water. So that brings a whole new dynamics of typically fine. And the what do drones are tethered so Lee Anthony Kennedy took the top yup and now we also have expandable last year to go into autonomous vehicles. Which means autonomous drone he program commission go do something and how long you sit at the company was founded in 2011. It was founded in 2011 in Massachusetts recently back. Two months ago we actually went public and it's really markets when of the public the public company. And train and it's really changed now do you just make one standardized vehicle you have a suite of vehicles due to customized one to what kind of vehicles to put out there so we mix several so well we thought our heritage for the first three years is making recreational vehicles people who have found or owned belting out to sit him when he checked in you know check the anchor and check the bottom of bone and accompanied niners. Three years ago we made a switch that commercial for the most part feels the best the turn of events in the commercial space so anything you would use a commercial directed an inspection. In things that you would not because of the dangers associate when you can put on on the way to drones who do those inspections. How much cheaper and say offers it for companies to use your drones as compared to individual divers. So I'll. Let me step I think we do not replace a diaper look at cases we actually meant to with a diaper does and as an example if you need to do introduction to actually do some sort of repair its attract. You have a guy who went down. But to do inspections the first step would be to send drones in to do them today to assess the situation. We recently had a company up in Alaska BP oil company who on the who put our vehicle in the actually for wrote it's taxing for the first time they use that. He paid back the vehicle he won being just fluency in terms of the I guess are underpriced. He charged more. Attract more how well how big are you at this point how many vehicles would be produced and where they operate so over the last six years we actually produced over 400 vehicles around the world half of our sales are international and an happens is roughly split the between ten of them next in the US. DC is it a lot of energy companies like BP that tend to be using them DC shipping companies with well users in terms of our markets we have several over the markets everything from a pot of water which is inspection of what infrastructure at the levee wanted to people's files with and two inspection of ships docked at the trial. To inspection of oil pipelines and oil rates to Hydro power inspection everything to do with you know the generation of electricity through water. So there's a variety youth as we also a lot of use in terms of a research. There's a lot of people by our units to monitor the emotions and see what's going on and also obviously military and government. Utes for things such that monitor and oceans are you able to attach customized equipment to these vehicles pretty much whatever you need yes we have the concept of if theater missile unit that people combined can accessories. And then we have engineering units which are more complex as an example we recently went to the Virginia institute American science. Which had all kinds of sensors on including one collections. Equipment they can connect connect collect samples at different depths and major dissolved oxygen chloride levels everything to do that Q team scientists want to do you based in Fall River, Massachusetts where do you do you were manufacturing. It's actually up lived in north but that's not in non union to far manufacture and that is in the intro I mean offices in four of mass. And you'll have an office in Australia Sydney and of how many employees do today. Not coming manufacturing 22. Of and how many are you looking to expand that at the moment. We just went through and expand to nineteen hiring hiring. Position today to try and fill out some additional positions like to do with the fields and marketing is really where focuses. You recently you mention that you IPO on the Australian Stock Exchange looks like you raise about seven million dollars. In that offering how big is this market potentially how big could this company the cult. The market opportunities billion dollar market is that you know a lot of big players. One thing that would like to be a plug in for the local area. Massachusetts is that if you start you know when the on the keep them to the south coast. You'll find hundreds of companies that you on the water technologies for the for the op Ed in the world war a lot of the source of of technology. He turns in the size of the market this is the billing don't market insolent. The upside for the company's future and really what we're focusing on today is really about growth and our whole strategy given to over the next he is a growth. Where do you find that you get a lot of the the talent that you brought in your company's coming from. Local universities where we're do you would you go to hire people for the company. For the the we actually go whites are both war on sales and marketing and engineering and there's a lot of people in the we'll cleric coming you know Massachusetts rich that we universities which we technology retreated in creek talent. And so we capital and in local area. Looking at you know the business going forward you mentioned a lot of areas that you're in today are there any new areas that you're trying to expand into in terms of your product suite. In any future products are looking to develop its last month we actually introduced. The remove even candidly my vehicle speaker of the vehicle almost anywhere in the world if you have Internet connectivity only. You can actually see what it's doing a month interacting. And controlled vehicles. Is a couple ways one is you if that's the autonomous vehicle you program admission to it and you could at some parameters in terms of high he wanted to be needed to be done. With the last be needed to be to come back home. If it's a controlled vehicle then you have two options you can you do that through an iPad connect to a well he can do with with PC and in public Xbox controller technical team to do right from an iPad if you want you can just be stand now the doctors implant around dance that's how we style released and recreational we wanted to make it very easy so we have the concept of three minutes from my face into the water and operational for the difficulty of its work can you operate them remotely as well let let's say that I'm in Massachusetts and I operated vehicle he in the Europe. I'll defer that comment but you can so defeat with a Coca Coca. In terms of you know again that you mention there's a lot of competition in this space here. Where he is is that mostly coming from companies that specialize in this technology to begin with did you get some crossovers from the flying drones that are trying to get into the space that technology significantly different than of the lame balloon to land into the hands of China. You know. The challenges I keep order on electronics which is a significant control of the vehicle probably different exactly. So there is quite a few players in this space and next thing that we select competition coming out in the space and we do that is all positive the more competition there is the better the products will be in. The happier customers will be to evolve what's the website address. It's www. Arc robotics EQUAEOPIX. Dot com. Forget what thank you very much for coming in we sure appreciate it thank you for having. If you're CEO if you own a business. We'd love to talk to that's what we do during the segments in the second hour of our show we generally have become on around 11151118. Come to our studio. We're located in Needham Massachusetts that's where we broadcast from. Speed come on and talk to us about your business we sure appreciate Deval coming in talking to us about underwater drones like. There's probably one or two of us that didn't know that underwater drones existed will they do need just learned about them. Wield the act coming back and when we come back. We'll have a question for you trivia question for you and then we're on a conversation about who Burke how is Bloomberg doing after a few months of controversy. The answer might surprise you that more. From our insurer match dot com's news. You've got Barry Armstrong. Financial exchange. Shall look I mean she'll exchange radio network.