Aquanox 3 is in development by Nordic Games, they even showed a demo on Gamescom 2013 to a few people. Its not 100% sure if this prototype will get into development, but they showed a screenshot and discuss with fans on their offical forum.
http://www.pcgameshardware.de/Aquanox-3-PC-66720/News/Nordic-Games-zeigt-Aquanox-3-Demo-auf-der-Gamescom-1085769/

Wow, that was the last thing I was expecting.
I hope they can make it close to Archimedean Dynasty as I think that was the best of the bunch.

I never played Archimedean Dynasty, I hope GOG will release it so i can try it out.

Archimedean Dynasty captures the dystopic atmosphere of Aqua much better IMO.
I also hope they are going to expand the game much further than to be a mere shooter, Aqua begs for a Privateer or even Fallout openworld approach.