Electronic shark repellent in high demand!
SALES of an Adelaide-made electronic shark repellent are expected to take off this year with its full launch in the U.S.SeaChange Technology, which is seeking up to $5 million in expansion capital, is preparing for a worldwide release in June of its $600 surfboard-mounted device.
The Kidman Park company also has appointed former Mitsubishi Australia chief executive Tom Phillips and University of SA Chancellor David Klingberg to its board.
New managing director Steven Copley said yesterday Australian sales of the device had averaged 360 a month this year.
"Demand is strong in Western Australia, after a SeaChange SharkShield reportedly deterred a 3.3m great white from attacking a scuba diver off Perth," he said.
"(But) shark attacks in California and Florida are far more prevalent than the rest of the world put together."
A Central and North American distributor of SeaChange devices was about to be appointed and there had been interest from other water sports, the boating and fishing industries and even the U.S. military.
Chairman Rod Hartley said it was hoped "to launch our new surfboard-mounted product by mid-year once we have successfully raised between $3 million and $5 million".
Any major increase in sales would probably result in a shift of manufacturing from founding investor, Clipsal-Gerard Corp, to another SA electronics company.
Mr Copley said the company would consider a share market float within two years.