Demand for Kraken’s Synthetic Aperture Sonar Grows as Kraken Receives Additional $1.5 Million of Orders from US Defense Customer
ST. JOHN'S, Newfoundland, March 09, 2023 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), announces $1.5 million in orders from a US defense customer for our AquaPix® synthetic aperture sonars (SAS). These 6000-meter rated systems will be integrated to the customer’s Autonomous Underwater Vehicles (AUVs). Delivery is expected in 2023.
Demand for Kraken’s SAS products has increased significantly and for 2023 we expect to deliver approximately 3x the volume as compared to previous years. We believe this demand increase is a combination of several factors including:
An uptick in demand driven by customer desire for stronger intelligence about subsea infrastructure in both shallow and deep-water installations
Increasing adoption of SAS over traditional side scan sonar
The modularity and versatility of our SAS having a track record of successful integrations on over 20 different underwater platforms
The increased range, resolution, and therefore higher useable Area Coverage Rate of SAS over traditional Side Scan Sonar systems significantly expand the capabilities of naval, scientific, and commercial applications. This modularity of Kraken’s SAS to cross several platforms enables military customers to streamline their Post Mission Analysis by having the same sonar resolution and ATR performance across their entire fleet of vehicles and mission requirements.
ABOUT KRAKEN ROBOTICS INC.
Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine technology company providing complex subsea sensors, batteries, and robotic systems. Our high-resolution 3D acoustic imaging solutions and services enable clients to overcome the challenges in our oceans - safely, efficiently, and sustainably. Kraken Robotics is headquartered in Canada and has offices in North and South America and Europe. Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter.
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For further information:
Stephen Griffin, Group Marketing Manager
Joe MacKay, Chief Financial Officer
Greg Reid, President & CEO
Sean Peasgood, Investor Relations