Ocean Aero Selected as a Winner of CONNECT’s 28th Annual Most Innovative New Product Awards SUBMARAN Wins Aerospace, Security, & Cyber Technologies Category

SAN DIEGO (December 2, 2015) – Today, Ocean Aero announced that thesSubmaran™, has been selected as a winner in the Aerospace, Security, & Cyber Technologies Category at CONNECT’s 28th Annual Most Innovative New Product Awards.

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Teledyne Increases Ownership Stake in Ocean Aero

THOUSAND OAKS, Calif. – July 2, 2015 – Teledyne Technologies Incorporated (NYSE:TDY) announced today that it has invested additional capital and increased its ownership interest in Ocean Aero, Inc. to approximately 37 percent.  Based in San Diego, California, Ocean Aero is designing unmanned surface vehicles that will also have the ability to descend subsea.  Terms of the transaction were not disclosed.

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Ocean Aero Signs Multi-Million Dollar Deal with Department of Defense

San Diego, CA – Ocean Aero (www.oceanaero.us) announced today that it
signed a multi-million dollar two-year contract with the Department of
Defense under the Rapid Innovation Fund (DoD RIF) program. Ocean Aero
was selected to create a prototype Long Range Unmanned Underwater and
Surface Vessel, similar to their current Submaran model.  This contract
is the result of a year of developing this exclusive concept, drafting
and writing the proposal, as well as negotiating the contract with the
DoD.

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