A new kind of shark tank

An Australian firm in the business of thwarting shark attacks wants a bite out of the U.S. market.

The company, Shark Shield, will do that in Tampa, where it recently launched a U.S. headquarters. The firm, in business Down Under for 12 years, claims to sell the “world's only scientifically and independently tested electronic shark deterrent.”

The device, the company says, creates an electronic barrier between divers and sharks. It uses salt water as a conductor to produce an electromagnetic field that disturbs the vital receptors sharks use to find food, communicate and seek a mate. The company says there is no known long-term effect on the shark from the electrical field, but the discomfort does enough to discourage human interaction.

Shark Shield technology is based on 20 years of scientific research, according to a press release. The products are sold in dive shops and other specialty stores in the Tampa area and in Fort Lauderdale and Miami. It costs $600 to $700. “When looking for headquarters in the U.S., Tampa Bay was the perfect location, due to the increased popularity of ocean sports in the area,” Shark Shield General Manager Amanda Wilson says in the statement.

The company, beyond a new market for sales, also recently launched a capital campaign. It seeks to raise $1.4 million by selling 35,000 new shares. The funds, according to the release, will be used to launch a new product and grow aggressively in the U.S.