Kraken Scores a Pair of Contract Wins

Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF) announced an order for 1,000-meter rated AquaPix MINSAS 60 sonar from a new South Korean customer for use in a military application. The order is valued at $300,000 and will be delivered in 2022. Due to customer confidentiality, Kraken cannot provide more details at this time.

Kraken’s AquaPix MINSAS is an off the shelf configurable SAS which replaces high end sidescan systems at an affordable price, while delivering significantly higher resolution, range, and area coverage rates (ACR). The increased range and resolution and associated higher ACR of SAS over traditional Side Scan Sonar systems can significantly expand the capabilities of the customer’s AUV systems for a variety of tasks for naval, scientific, and commercial applications. Kraken’s MINSAS is capable of 2 cm x 2 cm Ultra High-Definition SAS imaging. Kraken’s SAS is uniquely positioned within the industry to bring this capability to the increasingly popular small, man-portable vehicle class.

• Kraken Wins $4.8m Subsea Battery Contract

Kraken Robotics also announced an order for subsea batteries from a U.S. defense industry customer, for integration on Autonomous Underwater Vehicles (AUVs). The order is valued at $4.8 million with deliveries occurring in 2022.The name of the customer was not available for release.

Kraken’s SeaPower 6000-meter rated pressure tolerant batteries are based on Kraken’s unique pressure tolerant gel encapsulation technology for lithium polymer batteries. This provides an attractively priced, environmentally friendly, and superior energy density alternative to the traditional oil compensated batteries commonly used for deep subsea battery applications. Kraken’s hot swappable batteries are modular and include an integrated battery management system within each battery module which provides a very high level of redundancy and safety to the vehicle.