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''OceanGate'' Manned submarines and the technological development that this field has reached.

ّAccording to the company's website, OceanGate was founded in 2009 with the goal of expanding access to the ocean depths through the development of advanced technology from manned submarines and launch pads.

According to information from Pitchbook, the private company is based in Everett, Washington, has 47 workers as of April, and has fundraised a total of $36.81 million to fund its project.

Along with the Titanic cruise, the company offers monthly research opportunities to delve into the ocean and discover marine species.

The company's CEO and founder, Rush, has stressed several times the need to balance safety precautions with risks, an idea that has come under increased scrutiny since the ship's disappearance. Rush is identified as one of the passengers on the missing ship.

In 2019 that Rush, 61, grew up in a wealthy family and originally dreamed of becoming an astronaut This is according to Smithsonian magazine

The Seattle Times reported that Rush worked as a flight test engineer for McDonnell Douglas Corporation before pursuing a master's degree in business administration at the University of California. Rush's plans changed and he wanted to explore the ocean.

And in a previous statement to Rush he said, "You know if you just want to be safe, don't get out of bed, don't get in your car, don't do anything, at some point you're going to take some risks and that's really a matter of risk and reward," with a reporter. CBS

Experts previously told Insider that the company circumvented safety regulations by running its showrooms on international seas. And in 2019, OceanGate said its Titan submarine had not been inspected to ensure it meets industry standards because of its innovations. It can take years to obtain a license for some designs.

In 2018, former employee David Lochridge filed a complaint against OceanGate, claiming he had previously warned the company about quality and safety issues with Titan.

The lawsuit alleged that "the passengers who paid the money were not aware of this experimental design, or the use of hazardous and flammable materials inside the submarine, and would not have been informed of it." In November 2018, an agreement was reached out of court.

OceanGate Titan The Lost Submarine

A submarine is launched into the ocean from a separate ship, lacks a power port, and is smaller than the OceanGate submarine, which is how the Titan was used in these Titanic missions.

Like some US Navy submarine designs that use Xbox 360 controllers, the submarine is similarly steered with a video game controller.

According to Harvard marine scientist Peter Gerges, the game controller could increase the reliability of submarines despite initial skepticism about the idea.

Before embarking on a cruise, crew members must agree to waivers outlining the risk of death. Former Titan passenger Mike Rees told the BBC: "While I was on board the submarine, I had this thought: Well, this could be the end.

Rees, who traveled on the OceanGate expedition in 2022, told the BBC that "no one in this situation is really surprised." "You all understand what you're signing up for."

Journey to find the sunken ship Titanic.

As stated on the company's website, OceanGate has been leading expeditions to the Titanic disaster since 2021. These tours may include five people—a captain and four crew members—on a submersible ship that can dive as deep as 13,000 feet into the ocean. The average price per person for a tour is $250,000.

The annual Titanic tour, which lasts 10 days in total, begins near St. John's in Newfoundland.

The Titan is one of the only ships in the world capable of reaching deep into the ruins, added CBS News writer David Pogue, who previously covered OceanGate and spent time onboard the Titanic. According to the interview, OceanGate visited the wreck 25 times throughout the course of the previous summer.

Loss of the ship during the search mission

A team went to search for the wreck of the Titanic, which consisted of five passengers, but it disappeared last Sunday, and the search continues for them, on the submarine Titan mission of OceanGate Expeditions, a research and marine technology company.

The ship has not been located, but the five passengers on board have been identified, including Stockton Rush, CEO of OceanGate and founder of the cruise tourism company.