Kraken Robotics Inc. (“Kraken” or the “Company”) (TSX-V: PNG, OTCQB: KRKNF) announces that it has received orders totaling $34 million for SeaPower™ pressure tolerant batteries from three clients. In addition, Kraken has signed a lease to open a new battery production facility in Nova Scotia to meet rising defense market demand for uncrewed underwater vehicles (UUVs).
“With the emergence of new larger classes of UUVs and greater adoption of these platforms in naval fleets, reliable subsea power requirements are increasing,” said Greg Reid, President and CEO of Kraken Robotics. “These new orders illustrate the robust customer demand we have for Kraken’s SeaPower batteries across the U.S., Europe, and Asia Pacific.”
One order, totaling $31 million, represents Kraken’s largest battery order to date. The client, who cannot be named at this time, provides UUVs to the defense industry. Two commercial clients with UUVs also placed orders totaling $3 million.
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Download free sample pages More information“We have new battery form factors that will be released in late 2025 that are generating strong interest across several vehicle manufacturers,” said Mr. Reid. “This will allow us to address a segment of the market that we have not previously had solutions for – small and medium-sized UUVs. Once completed, our new facility will allow us to triple our current battery production capacity.”
Kraken’s new manufacturing facility will provide approximately 60,000 square feet of office and production space and is expected to be operational toward the end of 2025. With this new capacity, Kraken will be in an improved position to meet growing customer demand in the subsea power domain with manufacturing from both Canada and the original facility in Germany. Kraken’s subsea lithium polymer batteries are delivering extended endurance and reduced costs to customers who are providing important national security and commercial subsea survey and inspection work.
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