Dark Energy Digital boss, Pete Jones, has confirmed that Hydrophobia will be released on the Xbox 360 exclusively to begin with.
He went on to say that the game will be released on XBLA as well as confirming a retail version, with a PC game following the 360 release.
A PS3 release seems further off with Jones saying that it would come to Sony's platform "at some point" but would only be available on PSN.
Hydrophobia was last mentioned in March with the prospect of a 'big reveal'.
Speaking to IncGamers, Jones said, "Hydrophobia is of a production quality that only the best at retail can match and yes it is of a comparable gameplay length to an AAA retail game."
The game uses the Infinite Worlds engine, which allows the team to keep the file size tiny:
"We produced the engine principally because it conveys a massive productivity benefit - basically it allows a small team like ourselves to produce a big budget game," said Jones.
"But it had a spin off effect of producing a game to an impossibly small file size. Impossibly small meaning under 1GB."
Jones said that more and more developers were going to have to move to the Infinite World's engine or something similar if they wanted to move down the digital download route.