Kraken Sonar Systems Inc., a wholly-owned subsidiary of Kraken Sonar Inc., has invoiced a major European defense contractor for over C$400,000, the company announced today. Proceeds are expected to be received during Q2 2016.
Kraken said it could not name the customer for competitive reasons.
Kraken said it recently provided an AquaPix Miniature Interferometric Synthetic Aperture Sonar (MINSAS) for integration and sea trials on the customer’s autonomous underwater vehicle (AUV), and believes its product demonstrated good price/performance characteristics, positioning the company for additional business with this customer in 2016.
“Navies around the world rely upon their suppliers to provide the best underwater systems and more defense contractors are depending upon Kraken to provide innovative underwater technology solutions,” said Karl Kenny, Kraken President and Chief Executive Officer. “We look forward to working with this customer in the future.”