Resources VMT
Introduction
Virtual Marine Technology Inc. (“VMT”) combines expertise in marine testing and simulation based training to provide realistic, effective and safe competence assurance training tools for small craft operators. The Company has financial backing from one of
The Company
Virtual Marine Technology Inc. is a privately held company with its head office located in
The Industry
Small craft, especially less than 12 m in length, are the work horses of the marine community. They are used in all corners of the globe by all types of organizations. They are used in tasks as diverse as policing, military operations, passenger transportation, support of offshore oil and gas operations, fishing, and rescue. In addition to small craft, VMT is focused on safety craft simulation for oil rig rescue which represents a large potential global market opportunity.
Competition
Currently, the most common method of training small craft operators is the hands-on use of small craft at sea; until now there have been few alternatives.
The Market
Small craft owners are motivated to provide their craft operators with sophisticated operational and safety training because it mitigates the risk of accidents and employer liability. Demand for formalized training for small craft operators is also being spurred on by the increasing interest from public agencies about marine security. Simulation technology provides for a faster, more reliable, and cost effective alternative to traditional training programs that do not use simulation. A further benefit of simulation technology techniques is that they ensure the safety of those who are being trained and allow for training to occur at anytime, any day during the year.
Products
The company provides customers with customized simulation technology, on-going technical and operational support, and performance assurance programs.
VMT manufactures a broad range of training simulators, ranging from full mission to limited-task simulators. The expansive product offering allows VMT to market its products to a wide variety of different clients. The company’s simulators provide a cost effective and safe means to train craft operators for emergency situations.
The company’s recurring revenues come from supplying technical support, completing repairs and maintenance, and providing upgrades to the technology.
One of VMT’s primary selling features is its ability to design and implement simulation programs that are specific to clients’ exact training needs. VMT provides clients with objective-driven simulation-based curriculums. Customers also have the option to merely incorporate the simulators into their existing training courses. VMT helps clients implement the courses by teaching their instructors and technicians how to operate the simulators.
Management Team
The management team at VMT has a wealth of experience in mathematical modeling, commercializing marine technologies, and entrepreneurship.
Captain Anthony Patterson
President and CEO
Captain Patterson is a graduate of the
Randy Billard
CTO & Executive VP
Mr. Billard is one of the company’s original founders and the developer of the mathematical models underlying VMT’s technology. He holds a Bachelor’s Degree in Mechanical Engineering and a Masters Degree in Ocean and Naval Architectural Engineering from the Memorial University of Newfoundland.