eMARINE Global Announces Latest Government Grant Pushes Total Grants Received to More than $1 Million in 2018

SEOUL, SOUTH KOREA, Sept. 13, 2018 (GLOBE NEWSWIRE) — eMARINE Global Inc. (OTC: EMRN), a leading provider of information and communications technology for the maritime industry, is pleased to announce its fifth government grant in 2018, funded by the Korea Institute for Advancement of Technology (KIAT), to develop Smart Station, a smart ship control center designed to be the “brain” of autonomous unmanned ships.

“We continue to play a leading role in the development of smart ship solutions in Korea, home to the world’s leading ship builders and operators,” stated Dr. Ung Gyu Kim, Chairman and CEO of eMARINE Global. “With this latest award, our fifth this year alone, we have received more than $1 million in technology innovation grants from government agencies in 2018 to develop state-of-the-art solutions for IoT-based e-navigation, ship data management and communications software, artificial intelligence driven remote maintenance systems, and auto-pilot systems for collision avoidance. We look forward to continue our leadership role in this important industry as the global shipping industry continues its technological transformation.”

The 860 million won ($760,000 US) KIAT grant covers a one-year program beginning September 2018. Under the terms of the program, eMARINE Global will lead a team, including the Korea Marine Equipment Research Institute (KOMERI), Orion Co., Ltd, Samwoo Imersion Co., Ltd, and Hyundai Mipo Dock Yard, in the development of the Smart Station solution. Each participating organization shares in the total grant award.

As part of the agreement, Hyundai Mipo signed a Memorandum of Understanding (MOU) providing a guarantee to purchase the finished product upon successful completion of the development program.

The Smart Station digital multi-touchscreen table is designed to provide integration of a variety of smart ship operations, including voyage route planning, weather routing, as well as ship data integration and information management.

About eMARINE Global Inc.

eMARINE is a provider of information and communications technology in the maritime industry. Specifically, eMARINE provides solutions for collection, integration and display of maritime information abroad and ashore by electronic means to enhance berth to berth navigation and related services. These solutions provide the most efficient means to secure the safety of life at sea and to protect the marine environment. All products and services are offered through subscription, installation, updates and/or maintenance contracts.

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