Harvest Technology Group (HTG.ASX)

The Harvest Technology Group Limited is an Australian operated group of companies whose portfolio includes Harvest Technology Pty Ltd and Harvest Infinity Pty Ltd.

“With an outstanding base business of world class cutting-edge technology and strong growth prospects, Harvest Technology have the capability, experience and vision to make things happen.”

Remote Communications Technology

Harvest Technology Group has a significant opportunity in the multi-billion dollar satellite communications sector driven by its proprietary, industry agnostic technology that allows real time, secure, encrypted transfer of HD video, audio and data anywhere in the world.

Harvest Technology Group is a dynamic, forward-thinking company with cutting-edge technology and in-house expertise to develop solutions for its customers. Harvest Infinity a subsidiary of the company owns a suite of products (hardware and software solutions) that provides the ability to encrypt video, audio and data and send it from point to point via satellite anywhere in the world, using ultra low bandwidth. Using Harvest Infinity technology full HD video can be streamed over bandwidths as low as 128KB per second, which is 20 times lower than the current method. Poor signal quality can also create problems when transmitting video, audio or data. For example, a 10% packet loss when transmitting Netflix content will normally result in image loss. Using Harvest Infinity, there can be up to 90% packet loss before the image or signal is lost. This technology represents a significant advancement towards allowing secure high quality, real time voice, video and data transfers from remote locations. The company is currently beta testing a software solution which will enable this data transmission technology to be used over any medium including 4G, 5G, broadband and internet.

In a clear sign of the significant competitive advantage and growth prospects of the Harvest Infinity suite of products, Applied Satellite Technology Australia Pty Ltd (AST) and Harvest Infinity recently signed an agreement is to jointly develop, market and distribute Harvest Infinity’s proprietary remote communication technology through AST’s global satellite connectivity network. AST contacted Harvest to form a joint approach to the market after identifying Harvest Infinity technology as having immediate application across their worldwide client base. Key to the success of Harvest Infinity’s offerings is the unique software and applications developed in house creating a communication protocol which uses ultra-low bandwidth, has low latency and provides end to end security.

The product range incorporates four proprietary remote technology offerings:

Infinity Nodestream

The Nodestream allows for secure, low bandwidth, distributed multiple video feeds to be distributed point-to-point from anywhere in the world via satellite.

Infinity Wearwolf

A wearable device for delivering real-time live content from personnel working in remote locations, to enable simultaneous review and decision making worldwide from the office or the home.

Infinity AVR2

Designed to deliver real-time live content over low-quality satellite networks point-to-cloud, to enable simultaneous review and decision making worldwide.

Infinity RIS

The Remote Inspection System allows for the removal of personnel from remote sites by offering live streaming of video, audio and other data. Coupled with remote control the Infinity RIS also enable remote operations to be carried out safely, securely and more cost effectively.

The Harvest Infinity Pty Ltd suite of products has positioned the company to aggressively pursue high revenue opportunities in a broad range of future market applications. Mainly:

  • Defence Applications
  • Airline Industry
  • Satellite Applications
  • Remote land-based communities and operations, and
  • Emergency Communications

TECHNOLOGY PROVEN AND IN USE

Harvest Infinity’s technology is currently being used by Netherlands based Fugro, to provide solutions to the offshore Energy and Renewables Sector for remote subsea inspections. Customers are able to conduct remote inspections of their oil and gas platforms from thousands of kilometres away eliminating the risk of having divers and others on site to undertake this work. Harvest Infinity can stream full HD video in real time. as well as controlling robots to undertake maintenance work in hostile subsea environments. This is a major step forward for the oil and gas industry.

Control Room at Fugro Next Remote Operation Centre Gnangara, Perth

Australian Remote Operations for Space and Earth (AROSE) TO BE HEADQUARTERED PERTH

On Monday February 17, 2020, WA Premier Mark McGowan announced that Perth had secured the headquarters for the national entity AROSE (Australian Remote Operations for Space and Earth), which will ensure Western Australia plays a leading role in the Australia-NASA Moon to Mars partnership. To aid securing the headquarters in Perth, the WA State government has invested $1.5 million into AROSE, assisted by research from Curtin University and the University of Western Australia. The founding partners also include resources companies Woodside and Rio Tinto, geodata specialists Fugro and professional service provider Nova Systems. The new space robotics centre, developed in partnership with NASA, will adopt world class technology for remote operations on the Moon and Mars.

What is particularly interesting for HTG is that its collaboration partner Fugro is playing a key role. Fugro have developed the Remote Operation Centre in Gnangara WA utilising technology owned by Advanced Offshore Streaming (AOS) to enable the offshore remote control of unmanned ROVs (Remotely Operated Vehicles) from onshore and the secure streaming of high definition video and data over ultra-low bandwidth. AOS is a wholly owned subsidiary of Harvest Technology Group (ASX Code: HTG). AOS technology is playing a key role in the control of robots and remote operations as well as the live streaming of high-definition video via satellite back to the control centres in Perth and other locations around the world.

Links to News Articles ABOUT THE TECHNOLOGY

Harvest Infinity signs agreement with Applied Satellite Technology Group (AST) to jointly develop, market and distribute remote communication technology through AST’s global network.

https://themarketherald.com.au/harvest-technology-asxhtg-teams-up-with-ast-to-sell-its-remote-technology-2020-04-21/

Harvest Infinity technology is being used to control remote robots that run inspection, repair and maintenance services on North West Shelf pipes and infrastructure at depths of up to 4000m.

https://thewest.com.au/business/sea-to-space-and-everything-in-between-telstra-and-furgos-remote-operations-centre-in-gnangara-shoots-for-the-stars-ng-b881341689z

https://www.smh.com.au/business/companies/from-perth-bush-to-deep-sea-how-wa-is-leading-the-world-in-remote-operations-20191003-p52xij.html

https://exchange.telstra.com.au/a-new-frontier-of-innovation-with-advanced-remote-operations/

McGowan Government secures Perth as headquarters for ‘AROSE’ (Australian Remote Operations for Space and Earth), a national consortium to translate locally developed remote and robotic technologies into space exploration

https://www.mediastatements.wa.gov.au/Pages/McGowan/2020/02/McGowan-Government-rockets-State-into-new-generation-space-race-to-create-1500-WA-jobs.aspx

https://7news.com.au/technology/space/perth-joins-forces-with-nasa-to-launch-world-class-robotics-space-centre-c-701384

Offshore Solutions

Harvest Technology Pty Ltd, a subsidiary of the Company, is a bespoke subsea technology solutions provider for the energy, resources, and renewables sector. They offer turnkey solutions for all subsea and remote operations through the provision of Vessels, Remotely Operated Vehicles (ROVs), Air Diving and Engineering services.

Harvest Technology commenced charter of the VOS Shine (Shine) in late July 2019 from the Netherlands, with the ship arriving in Darwin in September.  Its inaugural project was the laying of fiber optic cable in the Tiwi Islands in September 2019.

A collaboration agreement with Fugro Australia Marine provides the Harvest Shine with the latest survey equipment, a next-generation ROV and Harvest Infinity remote communications technology. This enables a significant reduction in project risk while increasing employee safety with a reduction in personnel being required offshore.

The vessel is currently deployed in Australian waters as a support vessel for a Remote Operated Vehicle (ROV) intervention campaign. Harvest Infinity Nodestream technology was also installed on the vehicle in January 2020. This enables live video and audio between the vessel and the onshore Subsea Engineering team and has removed the need for offshore engineering services aboard the vehicle.

In mid-March 2020 Sapura Energy Australia contracted with Harvest Technology to deploy the Shine for the provision of ROV intervention support for Esso Australia in Australian waters.  This will occur directly after completion of its current project and continues its track record of 100% utilisation since arriving into Australia mid-September 2019.

General Specifications of the VS Shine

Name

Harvest Shine

Type

DSV / OSV

Description

60m DP2 Dive Support Vessel / Offshore Supply Vessel

Built

2012 Fijuan

Class

Lloyds ✠100 A1 Offshore Supply Ship ✠LMC, DP(AA)/SPS, DPS-2

DP Class

Class 2, LR

DP System

K-POS DP 21

4-Point Mooring

MacGregor winches with 35t on 1st Layer and 60t Holding Power 1,200m 38mm wire with 4 x 3mt High Holding Delta Flippers

   Dimensions

Length Overall

60.25 m

Length B.P.P

52.20 m

Beam Moulded

14.95 m

Depth

6.10 m

Draft Summer

4.60 m

GRT

1794 t

Net Tonnage

538 t

Deadweight

992 mt

  Accommodation

Total Accommodation

49

Project Accommodation

27 beds, 1 single & 13 double cabins

Crew Accommodation

22 beds

Facilities

1 x Gym, 1 x Recreation Room, 3 x Offices

   Fuel & Water

Full Speed

13.5kt @ 15mt/day

Eco Speed

11.5kts @ 11.2mt/day

DP Operations

2.5 – 6mt/day

Idle in Port

1 mt/day

MGO

481 m³

Potable Water

455 m³

Water Ballast

901 m³

Heeling Tanks

2 x 37 m³

   Deck Area and Services

Clear Deck Space

330 m²

Deck Strength

7mt / m²

Moon Pool

4.8 x 3.0 m

Bulwark

Removable – Port & Starboard Side along Work Deck

   Crane Lifting Equipment

Main Crane

SMST Knuckle Boom (Starboard Side)

Main Hoist Wire Length

190m wire fitted (300m maximum wire capacity)

Max Outreach SWL

Single hoist 6t@19m, Double Hoist 12t@19m, Double Hoist 24t@8m

key people

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Paul Guilfoyle: Managing Director

Paul has been involved in numerous senior roles throughout his career with a proven track record in business transformation. He is well-versed in spearheading strategic shifts within an organisation to drive future competitive advantage and profit performance.

Paul is very much a people-centred individual and is distinguished by his talent for creating and investing in highly engaged teams. A great believer in thinking outside the box, he is an enabler of innovation and inspires team members to extend their thinking beyond current practice.

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Diranne Lee-Renwick: Chief Technology Officer

Diranne is an experienced professional with a proven background in logistical engineering, technology and software solutions in the Oil and Gas Industry. With over 26 years of direct Subsea Integrity and commercial diving experience Diranne has worked throughout Australia, the United Kingdom and the USA.

Holding a Bachelor of Civil Engineering with First Class Honours; coupled with extensive commercial diving, ROV and software systems experience he has specialised his career in engaging and advancing new subsea technology.

Diranne has successfully brought to market a number of new technologies and is co-author of several industry research papers and is currently working towards Chartership.

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Linda Shields: Chief commercial Officer

Linda has over 25 years’ experience spanning retail, hospitality, finance, property, marine, oil & gas, and mining industries. Linda has spent the majority of her career in key roles involving marketing services, client relations, business system development and implementation, contract and commercial management.

Linda is a natural people person capable of effectively collaborating with internal and external stakeholders whilst managing complex scopes and high volumes of work.

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Colin Napier: Chief Financial Officer

Colin Napier has over 30 years’ experience in the accounting profession. The first 12 years a public accountant with international firms such as pwc and RSM Bird Cameron. The last 20 years have included a 5-year role as CFO of Coogee Chemicals and over 2 years as CFO of ASX listed Neptune Marine Services.

Colin has extensive practical experience in the selling and purchasing of businesses, developing Board and management reports, preparing financial reports, raising debt funding (in excess of $125M), cashflow projections and control, and capital investment analysis.

He has a Bachelor of Commerce from UWA, is a Chartered Accountant and holds an Executive MBA from the Australian Graduate School of Management.