Spookfish is pleased to announce that the U.S. Federal Aviation Agency has approved the Spookfish Supplemental Type Certificate for the latest generation Spookfish camera system.
This is a significant milestone for the Company as it allows our North American partner, EagleView, to commence commercial operations in North America using their existing Spookfish camera system and new systems currently being manufactured by Spookfish to satisfy EagleView’s recent large scale purchase order and due for delivery from later this year.
Importantly, this milestone will allow royalty revenues to commence flowing to Spookfish via its license agreement with EagleView in North America.
This approval was sought and granted under the Australian-US Bilateral Aviation Safety Agreement, with the FAA accepting the CASA STC as the basis for approving the FAA STC. This FAA STC approval has been achieved in a very short timeframe by any conventional measure for such a complex project.
Additionally, Spookfish is also pleased to announce a further extension to the scope of the CASA- approved STC for the latest generation Spookfish camera system to now include additional aircraft models and other capability enhancements. This allows access to a significantly larger worldwide aircraft pool, which will improve the ability for both Spookfish and EagleView to manage large aircraft fleets.
Importantly, these additional aircraft models include turbo-charged variants capable of operations at higher altitudes. This materially increases productivity and lowers capture costs. These latest CASA approvals will now flow into the FAA amendment process.
Spookfish Chairman, Jason Marinko, commented, “Achieving FAA approval for such a complex project executed in such a short timeframe is an enormous endorsement of the capabilities of Spookfish to build a global business and take advantage of the significant opportunities available for our technology. Beginning commercial operations in North America is a major milestone and will immediately unlock a range of opportunities only accessible to Spookfish because of our unique partnership with North American market leader, EagleView.”