Bartlett Maritime PlanTM Update

Cleveland, OH Aug 4, 2022. The Bartlett Maritime Corporation is pleased to provide an update on the continuing discussions with the Navy regarding it’s Bartlett Maritime PlanTM to add urgently required capacity and capability to the US Navy’s Naval Shipyard industrial enterprise. On Friday, July 29th Founder, Chairman and CEO CAPT Edward Bartlett, Vice President & Chief Financial Officer of operating subsidiary American Naval Shipyard, LLC Renold Thompson Jr, and Vice President, Corporate Development Jacqueline O’Brien traveled to Washington D.C. for a meeting at the Pentagon with Senior Navy Leadership. The following Monday, August 1st Founder, Chairman and CEO CAPT Edward Bartlett, Vice President & Chief Financial Officer of operating subsidiary American Naval Shipyard, LLC Renold Thompson Jr, Vice President, Planning RDML Robert Frick, USN(Ret), Vice President, Corporate Development Jacqueline O’Brien, and Vice President, Operations CAPT Frank Simei USN (Ret) meet with additional Navy Leadership in furthering discussions of our work in support of essential national security.
The Bartlett Maritime Plan™ is a public-private partnership plan which significantly reduces the cost of capital for urgently required new facilities and accelerates their availability, is now focused on building a Component Repair Center in Lordstown, OH to support accelerating the completion of commissioned submarine overhauls, and a Modular Manufacturing Facility in Lorain, OH to support the shipbuilding capacity expansion required to build two Virginia VPM Class and one Columbia Class submarine per year. This expanded submarine construction volume is equivalent to building 5 standard Virginia Class submarines per year (the current industrial base submarine construction capacity is less than 2 standard Virginia Class submarines per year).

The company discussed the path to accelerate critically needed production utilizing available facilities now in support of initiating component repair and module manufacturing in 2023. This would result in meaningful employment opportunities in both Lordstown and Lorain starting later this year (for initial training), with workforce size growing to several thousand as work progresses.

The Bartlett Maritime Corporation and its partners remain confident that its offer, leveraging the readily available low-cost capital possible through the public private partnership and the available, energized and ready workforce available along the North Coast, will be found to be the best alternative to cost effectively and rapidly providing the submarine industrial base capacity expansion required to meet pressing strategic national security requirements.