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ION aims to make ports smarter, safer and greener, starting in Scotland

May 28, 2020 | About:

PR Newswire

HOUSTON, May 28, 2020 /PRNewswire/ -- ION Geophysical Corporation (NYSE: IO) today announced the first successful digital switchover from manual operations to Marlin™ SmartPort optimization software for the initial project at Montrose Port Authority in Scotland with support from Scottish Enterprise. The migration to ION's digital solution took place as the UK moved to sheltering in place during the COVID-19 pandemic and Marlin SmartPort supported business continuity and remote working. ION aims to provide better real-time visibility of operations to transform the efficiency, safety and sustainability of ports and harbors globally.

ION closely collaborated with Montrose Port Authority and industry experts to develop a compelling technology roadmap focused on driving real value in port operations of all sizes. Scottish Enterprise has supported ION over a number of years and the recent R&D grant enables the Company's Edinburgh-based Software group to complete its next phase of technology development that enables better management of marine traffic and berth allocations. Port call optimization, back office digitalization and port community engagement are intended to enhance decision-making and drive increased revenue, efficiency and sustainability, such as reducing standby and related fuel emissions.

Senior Vice President of ION's Edinburgh-based Software group, Stuart Darling, said, "Our software solutions are renowned for optimizing operations offshore and there is a great opportunity to bring that to the port environment as we further enhance our software.

"The introduction to Montrose Port Authority and support from Scottish Enterprise has been invaluable. We have direct insight into the port's operational environment to develop our software, and in return, it is great to see a positive impact on a Scottish business.

"Building on this experience, we are now engaging with port community stakeholders from a number of countries and discussing opportunities for Marlin SmartPort to optimize port operations globally."

Montrose Port Authority is a leading support and service hub for the energy industry as well as the general cargo market and has undergone an extensive program of upgrades in recent years as part of its wider masterplan.

CEO of Montrose Port Authority, Tom Hutchison, said, "The exciting move to Marlin SmartPort is a major leap forward for Montrose Port Authority (MPA) replacing highly manual port operation procedures with an efficient, integrated digital system.

"The port is renowned for its ability to adapt easily to vessel requirements, but the new software really propels us to the forefront of the market, ideally aligned with our recent quayside redevelopment and the new landmark contract with SSE Renewables.

"The project also supports our ambitions to become Scotland's greenest port."

Director of National Opportunities at Scottish Enterprise, David Smith, welcomed the digital project and said, "The innovation shown by companies such as ION to diversify and develop solutions for port and harbor operators really highlights that Scottish companies are at the forefront of digital transformation.

"The Marlin SmartPort project will benefit the environment as well as the wider business of the Port in Montrose as vessels can optimise fuel emissions so it supports our targets of achieving net zero carbon emissions by 2045.

"The technology deployed in Montrose aims to address a global marine market and it is fantastic the digital switch over that started in Scotland could spark ideas for projects across many industries."

To learn more, visit iongeo.com/Marlin.

About the Companies

ION delivers powerful data-driven decision-making to offshore energy, ports and defense industries, enabling clients to optimize operations and deliver superior returns. Learn more at iongeo.com.

Scottish Enterprise is Scotland's national economic development agency, which is committed to growing the Scottish economy for the benefit of all, helping create more quality jobs and a brighter future for every region.

Montrose Port Authority (MPA) is a leading support and service hub for the North Sea energy industry. Offering around 1000 meters on both the north and south side of the harbor, the quayside provides a sheltered haven almost half a mile long. With water berths to a depth of 8m, open storage and over 40,000 square meters of warehouse and office space, MPA is the port of choice for key oil and gas suppliers, and the growing offshore renewables and decommissioning sectors.

Contacts

ION (Investor relations)

Executive Vice President and Chief Financial Officer
Mike Morrison, +1 281.552.3011
[email protected]

ION (Media relations)

Vice President, Communications
Rachel White, +1 281.781.1168
[email protected]

The information herein contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include information and other statements that are not of historical fact. Actual results may vary materially from those described in these forward-looking statements. All forward-looking statements reflect numerous assumptions and involve a number of risks and uncertainties. These risks and uncertainties include the risks associated with the timing and development of ION Geophysical Corporation's products and services; pricing pressure; decreased demand; changes in oil prices; agreements made or adhered to by members of OPEC and other oil producing countries to maintain production levels; the COVID-19 pandemic; and political, execution, regulatory, and currency risks . For additional information regarding these various risks and uncertainties, see our Form 10-K for the year ended December 31, 2019, filed on February 6, 2020. Additional risk factors, which could affect actual results, are disclosed by the Company in its filings with the Securities and Exchange Commission ("SEC"), including its Form 10-K, Form 10-Qs and Form 8-Ks filed during the year. The Company expressly disclaims any obligation to revise or update any forward-looking statements.

Cision View original content:http://www.prnewswire.com/news-releases/ion-aims-to-make-ports-smarter-safer-and-greener-starting-in-scotland-301066430.html

SOURCE ION Geophysical Corporation


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