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Starting in 1989, the MIT Autonomous Underwater Vehicle Laboratory
has pioneered vehicle technology in academia. The fourteen
year long progression from the SeaSquirt to the Bluefin AUVs
has led to dramatic gains in capability, performance, and
applicability. Capable of reaching the sea floor almost anywhere
in the world and robust enough to be deployed in the Antarctic
and the Labrador Sea, the MIT team has proven that AUVs can
be a reliable, affordable tool to the academic community.
Founded in May of 1997, Bluefin Robotics is registered in
Massachusetts, USA, as a privately held "C" corporation.
The company was formed from a core team of the Autonomous
Underwater Vehicles Laboratory at the Massachusetts Institute
of Technology, and is still closely associated with it. The
Bluefin team brings a unique set of skills and experience
to market, continuing to apply hard won expertise in the application
of advanced materials, systems, and technologies to real life
operational conditions.
Our extensive market research indicated that the spin-off
would be viable by focusing on three specific market areas:
- Scientific research and technology development with advanced
underwater platforms.
- Naval mine warfare and general clandestine battlespace preparation.
- Offshore oil field seafloor surveys, particularly for deep-water
installations.
The growth of our business has validated these predictions.
For such a young company Bluefin is in robust financial health.
We have booked a modest profit in every year since Bluefin
was started. In the beginning of 1999 Bluefin raised private
capital through a limited stock offering. This offering was
successful and further strengthened Bluefin's financial position.
Bluefin is completely equity financed and has no debt. Our
solid business fundamentals make us a reliable partner.
Utilizing the strong parallels between offshore oil survey
work, US Navy needs and the technologies needed for oceanography
AUVs.
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