Kraken Robotics Wins $11M of New Service Contracts

Canadian marine technology company Kraken Robotics has secured $11 million of new contracts since the start of the year.

The work scope of the contracts will be completed in 2024, Kraken Robotics said.

The contracts consist of a $8 million Acoustic Corer deal signed earlier in April, and several smaller Sub Bottom Imager contracts for offshore wind farm development totaling $3 million.

Under the Acoustic Corer contract, Kraken will provide high resolution sonar imagery at depths of up to 20 meters in the seabed using its 3D Acoustic Core imaging sonar.

The new contracts come in addition to $4 million of survey contracts (for KATFISH and magnetometer surveys), announced in November 2023 which are also being executed in 2024. These contracts cover offshore geographies in Australia, Europe, and the US.

“This leverages Kraken’s equipment and advanced processing expertise in de-risking marine construction projects. This marks the fourth major acoustic corer campaign by Kraken since 2022 and builds upon our track record of having completed numerous multi-disciplinary surveys around the globe,” the company said in a statement.

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