GlobeNewswire Inc | Dec 13, 2021 08:11AM EST

December 13, 2021

HOUSTON, Dec. 13, 2021 (GLOBE NEWSWIRE) -- Deep Down, Inc. (OTCQB: DPDW) (Deep Down or the Company), a specialist in offshore energy equipment and services, today announced the appointment of Mr. Russ McBeth as Director of Business Development, a new role at the Company.

Mr. McBeth most recently served as Vice President of Business Development at Ion Pro Services, a pipeline solutions provider. Prior to joining Ion Pro Services, Mr. McBeth served as Business Development Manager at Dril-Quip, a manufacturer of onshore and offshore drilling and production equipment, a position he was offered after having served in a variety of progressive engineering and business development positions at TechnipFMC. Mr. McBeth possesses a Bachelor of Science in Mechanical Engineering from Texas A&M University.

Russ brings to Deep Down over 25 years of diverse engineering, manufacturing, operations, and business development experience, specifically in the subsea production industry, said Deep Down President and CEO Charles Njuguna. While we have been largely successful at positioning our organization for expansion over the past two years, a key plank in maximizing value for our shareholders is to achieve sustainable revenue growth. We are therefore thrilled to be adding someone of Russs caliber and look forward to capitalizing on his diverse experience and vast industry network.

About Deep Down, Inc. (www.deepdowninc.com)Deep Down is a leading energy services company offering subsea equipment and support services to the worlds energy and offshore industries. Deep Down provides innovative solutions to complex customer challenges presented between the production facility and the energy source. Deep Downs core services and technological solutions include distribution system installation support and engineering services, umbilical terminations, loose-tube steel flying leads, and related services. Additionally, Deep Downs highly experienced team can support subsea engineering, manufacturing, installation, commissioning, and maintenance projects located anywhere in the world.

Forward-Looking Statements Any forward-looking statements in the preceding paragraphs of this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties in that actual results may differ materially from those projected in the forward-looking statements. In the course of operations, we are subject to certain risk factors, competition and competitive pressures, sensitivity to general economic and industrial conditions, international political and economic risks, availability and price of raw materials and execution of business strategy. For further information, please refer to the Company's filings with the Securities and Exchange Commission, copies of which are available from the Company without charge.

Investor Relations:Trevor Ashurstir@deepdowninc.com281-862-2201