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MIND Technology / GWL Collaboration Agreement

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MIND Technology's Seamap unit has formed a strategic collaboration with GWL Overseas Ltd. to advance the development, promotion, and production of GWL's Floatseis data acquisition system. The partnership combines Seamap's high-quality production and support capabilities with GWL's development expertise to commercialize this autonomous marine data acquisition system. Mark Welker, MIND's Vice President and Seamap Managing Director, expressed enthusiasm about the novel system, while GWL's CEO Nikolay Amelin highlighted the positive market reception of the Floatseis concept and the potential for rapid market deployment.
L'unità Seamap di MIND Technology ha stretto una collaborazione strategica con GWL Overseas Ltd. per promuovere lo sviluppo, la commercializzazione e la produzione del sistema di acquisizione dati Floatseis di GWL. La partnership unisce le capacità di produzione e supporto di alta qualità di Seamap con l'expertise di sviluppo di GWL, al fine di commercializzare questo sistema autonomo di acquisizione dati marini. Mark Welker, Vice Presidente di MIND e Direttore Generale di Seamap, ha espresso entusiasmo riguardo al nuovo sistema, mentre Nikolay Amelin, CEO di GWL, ha sottolineato l'accoglienza positiva del mercato verso il concetto Floatseis e il potenziale per una rapida diffusione sul mercato.
La unidad Seamap de MIND Technology ha establecido una colaboración estratégica con GWL Overseas Ltd. para impulsar el desarrollo, promoción y producción del sistema de adquisición de datos Floatseis de GWL. La asociación combina las capacidades de producción y soporte de alta calidad de Seamap con la experiencia en desarrollo de GWL para comercializar este sistema autónomo de adquisición de datos marinos. Mark Welker, vicepresidente de MIND y director general de Seamap, manifestó entusiasmo por el novedoso sistema, mientras que Nikolay Amelin, CEO de GWL, destacó la positiva acogida del mercado hacia el concepto Floatseis y el potencial para su rápida implementación comercial.
MIND Technology의 Seamap 부서는 GWL Overseas Ltd.와 전략적 협력을 맺어 GWL의 Floatseis 데이터 수집 시스템의 개발, 홍보 및 생산을 추진하고 있습니다. 이번 파트너십은 Seamap의 고품질 생산 및 지원 역량과 GWL의 개발 전문성을 결합하여 이 자율 해양 데이터 수집 시스템을 상용화하는 데 목적이 있습니다. MIND의 부사장이자 Seamap 전무인 Mark Welker는 이 새로운 시스템에 대해 기대감을 나타냈으며, GWL의 CEO Nikolay Amelin은 Floatseis 개념에 대한 시장의 긍정적인 반응과 빠른 시장 진출 가능성을 강조했습니다.
L'unité Seamap de MIND Technology a établi une collaboration stratégique avec GWL Overseas Ltd. afin de faire progresser le développement, la promotion et la production du système d'acquisition de données Floatseis de GWL. Ce partenariat combine les capacités de production et de support de haute qualité de Seamap avec l'expertise en développement de GWL pour commercialiser ce système autonome d'acquisition de données marines. Mark Welker, vice-président de MIND et directeur général de Seamap, a exprimé son enthousiasme pour ce système innovant, tandis que Nikolay Amelin, PDG de GWL, a souligné l'accueil favorable du marché envers le concept Floatseis et le potentiel d'une mise sur le marché rapide.
Die Seamap-Einheit von MIND Technology hat eine strategische Zusammenarbeit mit GWL Overseas Ltd. geschlossen, um die Entwicklung, Förderung und Produktion des Floatseis-Datenerfassungssystems von GWL voranzutreiben. Die Partnerschaft vereint Seamaps hochwertige Produktions- und Supportfähigkeiten mit GWLs Entwicklungsexpertise, um dieses autonome marine Datenerfassungssystem zu kommerzialisieren. Mark Welker, Vizepräsident von MIND und Geschäftsführer von Seamap, zeigte sich begeistert von dem neuartigen System, während GWLs CEO Nikolay Amelin die positive Marktresonanz auf das Floatseis-Konzept und das Potenzial für eine schnelle Markteinführung hervorhob.
Positive
  • Strategic partnership to develop and commercialize autonomous marine data acquisition technology
  • Leverages Seamap's production capabilities with GWL's development expertise
  • Positive market reception for the Floatseis concept
Negative
  • None.

THE WOODLANDS, Texas, June 17, 2025 /PRNewswire/ -- MIND Technology, Inc. ("MIND" or the "Company") (Nasdaq: MIND) announced today that its Seamap unit has entered into a collaboration agreement with GWL Overseas Ltd. ("GWL") for the further development, promotion and production of GWL's Floatseis data acquisition system.

Mark Welker, Vice President of MIND and Seamap Managing Director, stated, "We believe Floatseis is a novel autonomous marine data acquisition system. We are excited to be working with GWL to further refine and produce the Floatseis system for commercial deployment."

Nikolay Amelin, CEO of GWL, commented, "We are excited by the reception the Floatseis concept has received. Adding Seamap's best in class, high-quality production and support capabilities to GWL's experience and development capabilities will enable us to rapidly bring the unique features of the Floatseis system to the seismic data acquisition market."

About MIND Technology

MIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries.  Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom.  Its Seamap unit designs, manufactures and sells specialized, high performance, marine exploration and survey equipment. 

Forward-looking Statements

Certain statements and information in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans, our objectives for future operations, future orders and anticipated delivery of existing orders, and future payments of dividends are forward-looking statements.  The words "believe," "expect," "anticipate," "plan," "intend," "should," "would," "could" or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature.  These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us.  While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate.  All comments concerning our expectations for future revenues and operating results are based on our forecasts of our existing operations and do not include the potential impact of any future acquisitions or dispositions.  Our forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, without limitation, reductions in our customers' capital budgets, our own capital budget, limitations on the availability of capital or higher costs of capital, volatility in commodity prices for oil and natural gas.

For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with the SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof.  We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, unless required by law, whether as a result of new information, future events or otherwise. All forward-looking statements included in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to herein.

Contacts:

Rob Capps, President & CEO


MIND Technology, Inc.


281-353-4475




Ken Dennard / Zach Vaughan


Dennard Lascar Investor Relations


713-529-6600


MIND@dennardlascar.com

 

Cision View original content:https://www.prnewswire.com/news-releases/mind-technology--gwl-collaboration-agreement-302480616.html

SOURCE MIND Technology, Inc.

FAQ

What is the collaboration agreement between MIND Technology and GWL Overseas?

MIND Technology's Seamap unit has partnered with GWL Overseas to develop, promote, and produce GWL's Floatseis autonomous marine data acquisition system

What is MIND Technology's stock symbol?

MIND Technology trades on the Nasdaq under the symbol MIND

What is the Floatseis system mentioned in MIND Technology's announcement?

Floatseis is a novel autonomous marine data acquisition system developed by GWL Overseas that will be further refined and produced for commercial deployment through the collaboration with MIND's Seamap unit

Who are the key executives involved in the MIND Technology and GWL collaboration?

Mark Welker, Vice President of MIND and Seamap Managing Director, and Nikolay Amelin, CEO of GWL, are the key executives mentioned in the collaboration

What benefits does the MIND-GWL collaboration bring to the Floatseis system?

The collaboration combines Seamap's high-quality production and support capabilities with GWL's experience and development capabilities to accelerate the commercial deployment of Floatseis
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Scientific & Technical Instruments
Search, Detection, Navagation, Guidance, Aeronautical Sys
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