(1888PressRelease)
April 10, 2009 - Cary, N. C. The RTP Innovation Angel Capital Exchange announced today that A-B-Sea Research, Inc. a technology startup firm based in the RTP, had been selected to make a presentation at the April 15, 2009, angel event.
“Our company is developing the world’s first wireless, GPS-based underwater positioning, navigation, & communication system comprising “underwater satellites” (U-litestm), roughly analogous to the GPS satellites in earth orbit but deployed on the sea floor,” said Al Basilico, the CEO.
A-B-Sea’s equipment is designed for the commercial, military and recreational markets -a $4 billion opportunity, according to Basilico.
GPS accuracy, functionality and ease-of-use are needed underwater, but without the wires and above water GPS antennas that have been required until now. A-B-Sea's products and technology have been recognized in more than one innovation competitions. In June 2007, A-B-Sea was awarded a NC Idea Development Grant and it recently took 1st place in the 9th annual Duke (University) Start-up Challenge.
The RTP Angel Capital Exchange is an open business network that provides both existing companies and new ventures a platform for describing their growth plans. The Angel Capital Exchange is one part of 3 other technology innovation business networks in the RTP that work together to increase the rate of technology innovation and deal flow in the regional economy.
The monthly event is held at the BNC Center in Cary, and begins at 4:30. There is a $10 fee at the door to attend. Pre-registration is available at MeetUp.com.
About A-B-Sea Research, Inc. A-B-Sea’s product line comprises underwater satellites (U-litestm), and transponders for boats and divers. A-B-Sea’s proprietary methods and technologies for computing GPS-based position underwater are protected by three issued patents[Al Basilico] and two pending patent applications. Contact Al Basilico, President & CEO 919.971.9600 info ( @ ) a-b-sea dot com www dot a-b-sea dot com dot
About the RTP Angel Capital Exchange: This is an informal business networking event for innovative companies and startups who are seeking capital. Each month, there will be 30 minutes of social networking in the BNC Wine Bar, followed by 4 power point presentations by the companies seeking capital. The cost to make a presentation is $100. Contact Tom Vass at 919-975-4856.
###
