By Kimberley Donoghue
PBN Web Editor
FALL RIVER â A startup technology company is going to establish its headquarters in Fall River.
Aquabotix Technology Corp., which specializes in submersible vehicles and underwater viewing systems, is moving out of the University of Massachusetts Dartmouthâs Advanced Technology and Manufacturing Center and into Commonwealth Landing, 1080 Davol St., in October.
âWe are thrilled Aquabotix chose to remain in Fall River and will utilize the services of our office. Aquabotix has an impressive product line and a strong commitment to providing quality jobs to our community, which makes them a great asset to Fall River,â said Fall River Office of Economic Development President Paul Medeiros.
Aquabotix received a $400,000 loan from the cityâs economic development office; the startup will be launching its first two products at the Newport International Boat Show, scheduled for Sept. 15-18.
Its two initial products are:
Both are designed for recreational boats for underwater inspection of hulls, moorings and anchors.
The company is also planning to launch two additional products next year. It currently has a staff of 12, including four interns from UMass Dartmouth.
âOur business is bringing innovation to the underwater world, which makes Commonwealth Landing a perfect fit with its waterfront location and exciting, cool vibe that will help inspire our employees,â said Durval Tavares, president and CEO.
The company said itâs planning to create new jobs in marketing, engineering and manufacturing during the next several years, without specifying how many.