Insider Brief
- Kraken Robotics secured approximately $24 million in new orders across more than 10 customers in five countries, including three new defense clients, for its batteries and sonar systems.
- The orders include SeaPower batteries and KATFISH synthetic aperture sonar, with a new sale to the Polish Navy supporting minehunting operations and additional deployments on autonomous underwater vehicles.
- Kraken said expanding production capacity at its Nova Scotia facility will support growing demand as it broadens its international defense and commercial customer base.
PRESS RELEASE — Kraken Robotics Inc. (“Kraken” or the “Company”) (TSX-V: PNG, OTCQB: KRKNF) announces approximately $24 million in new orders to over 10 customers across five countries, including three new defense customers. The orders are for Kraken’s SeaPower batteries, KATFISH towed synthetic aperture sonar (SAS), and Kraken SAS.
“SeaPower battery sales continue to be strong, with several new clients further diversifying our customer base in this area of the business. Manufacturing of our batteries in our new Nova Scotia facility is coming online in the next month, significantly expanding our production capacity” said Greg Reid, President and CEO of Kraken Robotics. “We are also pleased to share that we have sold a new KATFISH to the Polish Navy for their minehunting program and SAS to multiple defense customers for their autonomous underwater vehicle (AUV) platforms.”
The Polish Navy first selected KATFISH in 2020 for deployment on its Kormoran II-class minehunting vessels to support mine countermeasure operations in complex shallow water environments. This latest order was placed through Thesta, Kraken’s partner in Poland, which was appointed an authorized reseller of KATFISH during last week’s Oceanology International exhibition.-
