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Saturday, May 21, 2022

Teledyne Taps Funding for Underwater Map Technology

Teledyne CARIS, a subsidiary of Teledyne Technologies Inc. in Thousand Oaks, has received “significant funding” from Canada’s Ocean Supercluster to develop a software system for remote underwater surveying and mapping, the company announced Wednesday.The supercluster is an industry organization to drive ocean-based economic growth in Canada. Teledyne CARIS has partnered with Ocean Floor Geophysics in British Columbia to develop capabilities that will facilitate autonomous vehicle mapping of the ocean floor and provide access to that data on desktop computers anywhere.“We are excited to continue innovating in support of remote operations through the design and execution of the CARIS Cloud Program,” Andy Hoggarth, vice president of sales and marketing at Teledyne CARIS, said in a statement. “This project has special meaning to Teledyne CARIS as a Canadian endeavor with a global impact.”Shares of Teledyne (TDY) closed Wednesday down $4.17, or 1 percent, to $388.16 on the New York Stock Exchange.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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