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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.
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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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United States
THE WOODLANDS