A private tech company Ocean Infinity has just landed a contract with the Malaysian government to search for the flight MH370 that went missing in March 2014. The contract is "no-find, no-fee" which means that if the company is unable to find the plane, they won't get paid.
The company will only get paid should they be successful in their search for the remains. And they need to do it within 90 days and initially over an area of 25 000 square kilometers off Australia's west coast. Should the company be lucky enough to find the cockpit voice recorder or flight recorder within the first 5,000 sq km, they get paid 20 million dollars. If the items are found outside the initial 25 000 sq kilometer zone, they will be paid $70 million dollars by the Malaysian government.
Why is Ocean Infinity ready to work with "no find, no fee" contract? The company believes that their new tech is capable of finding things that the previous search operations weren't. The company specializes in collection of "high resolution geophysical seabed data" which in layman's terms means that the company will be using eight autonomous underwater drones that will be collecting the data. The drones should be able to cover roughly 1,200 sq km a day and go as deep as at least up to 5680 meters.
MH370 disappeared on March 8, 2014, carrying 239 people. The whereabouts as well as the real reason of disappearance of the plane is currently still unknown. But some debris linked to the plane have been found from different places.
The company will only get paid should they be successful in their search for the remains. And they need to do it within 90 days and initially over an area of 25 000 square kilometers off Australia's west coast. Should the company be lucky enough to find the cockpit voice recorder or flight recorder within the first 5,000 sq km, they get paid 20 million dollars. If the items are found outside the initial 25 000 sq kilometer zone, they will be paid $70 million dollars by the Malaysian government.
Why is Ocean Infinity ready to work with "no find, no fee" contract? The company believes that their new tech is capable of finding things that the previous search operations weren't. The company specializes in collection of "high resolution geophysical seabed data" which in layman's terms means that the company will be using eight autonomous underwater drones that will be collecting the data. The drones should be able to cover roughly 1,200 sq km a day and go as deep as at least up to 5680 meters.
MH370 disappeared on March 8, 2014, carrying 239 people. The whereabouts as well as the real reason of disappearance of the plane is currently still unknown. But some debris linked to the plane have been found from different places.
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