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.