May 31, 2023
Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF) announces a $9.5 million contract to supply high-resolution seabed mapping sonar equipment to a navy in Asia-Pacific. The customer cannot be named at this time. Under the scope of the contract, Kraken will deliver its KATFISH™ high-speed minehunting solution. The contract also includes a variety of support and sustainment options, including training, spares and operational support.
Under the acquisition contract, Kraken will deliver its KATFISH towed Synthetic Aperture Sonar, Tentacle® Winch and Autonomous Launch and Recovery System (ALARS) in Q2, 2023. Kraken’s equipment will be integrated onboard a vessel of opportunity selected by the customer. Continuing to build off successful KATFISH deliveries with various NATO navies, this represents Kraken’s first KATFISH system sale in the Asia-Pacific region.
This contract follows the results of a successful in-country demonstration of KATFISH™ for the customer in Q1 of this year. Kraken’s team worked in concert with a local survey company to complete a 200 km seabed survey that provided real-time ultra- high-resolution imagery and bathymetry of the seafloor along coastal waters.
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Kraken is seeing continued opportunities for growth in all regions of the world as several trends are driving demand for Kraken’s synthetic aperture sonar technology. These include: