ST. JOHN’S, Newfoundland, July 12, 2022 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean Company, is pleased to announce new contracts valued at $2.0 million for its 6000-meter rated AquaPix® Synthetic Aperture Sonar (SAS) from a US defense contractor for deployment on Autonomous Underwater Vehicles (AUVs) built by the customer. Due to confidentiality reasons the customer cannot be named. Deliveries are expected to occur in the second half of this year.
Kraken’s AquaPix® is an off the shelf, configurable SAS that replaces high end sidescan systems at an affordable price, while delivering higher resolution, range, and area coverage rates (ACR). The increased range, resolution and associated higher ACR of SAS over traditional Side Scan Sonar systems significantly expand the capabilities of naval, scientific, and commercial applications. Kraken’s AquaPix® is capable of 2 cm x 2 cm Ultra High-Definition SAS imaging at long ranges. AquaPix® is modular and has been integrated and deployed on over 20 different underwater vehicle platforms from shallow water to full ocean depth.
ABOUT KRAKEN ROBOTICS INC.
Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine technology company dedicated to the production and sale of software-centric sensors, subsea batteries, and underwater robotic systems. The company is headquartered in Newfoundland with offices in Canada, U.S., Germany, Denmark, and Brazil. In July 2021, Kraken acquired PanGeo Subsea, a leading services company specializing in high-resolution 3D acoustic imaging solutions for the sub-seabed. PanGeo with offices in Canada, the United States and the United Kingdom is now a wholly owned subsidiary of Kraken. Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter.
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For further information, please contact:
Joe MacKay, Chief Financial Officer
Greg Reid, Chief Operating Officer
Sean Peasgood, Investor Relations