OceanGate To Build Two New Submersibles For Deep Ocean Exploration, Research and Commercial Operations To Titanic Depths and Beyond

OCEANGATE ANNOUNCED PLANS TO BUILD TWO ADDITIONAL SUBMERSIBLES using its innovative carbon fiber and titanium design to meet increasing expeditionary, research and commercial demand for deep-sea manned submersibles. OceanGate has begun the construction planning for the next two Cyclops-class subs (Cyclops 3 and Cyclops 4), which are planned to be rated for up to 6,000m. OceanGate is in discussions with two aerospace carbon fiber suppliers and manufacturers.

"Increasing demand for Titanic missions, deep-sea research and environmental supervision of deep-sea mining have further reinforced the business case for adding to our dive capacity. Using a new aerospace manufacturing vendor and ensuring aerospace level quality and control will provide a depth capability of 6,000m using the same thickness of carbon fiber as Titan (Cyclops 2), and will allow the new OceanGate submersibles to reach 98% of the ocean", shares Stockton Rush, CEO, OceanGate. "Our second Cyclops-class submersible, Titan, has validated not only the carbon fiber and titanium design, but also the OceanGate real-time hull health monitoring system. With the recent news that the Titanic shipwreck is deteriorating quickly, we have received more interest in our Titanic Survey Expeditions. In addition, ocean habitat research and the discovery of valuable undersea resources are also driving increased demand for manned submersibles. Mission specialists and partners are supporting our quest to make deep ocean exploration more safe, accessible, available and affordable, not only to scientific, governmental and commercial organizations, but also to citizen explorers," explains Rush.

While the two new submersibles are in production, OceanGate dive operations will continue throughout 2020 utilizing its three existing 5-crewmember submersibles, Titan, Cyclops 1 and Antipodes. OceanGate is currently accepting applications for expeditions for the Bahamas 2020 whale, shark and wreck missions with the University of The Bahamas and the Hudson Canyon Expedition off of the coast of New York City. Aspiring Mission Specialists interested in joining an upcoming expedition should contact OceanGate for qualifications, availability and additional details.

To obtain more information about all upcoming OceanGate expeditions, visit www.oceangateexpeditions.com.