Kraken Delivers Mine Hunting Solution to Australian Navy
Figure 1:
ST. JOHN’S, Newfoundland and Labrador, Nov. 06, 2023 (GLOBE NEWSWIRE) — Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF) announces that it has supplied high-resolution seabed mapping sonar equipment to the Royal Australian Navy. Kraken delivered its KATFISH high-speed high-definition seabed awareness solution in Q2, and recently completed system integration and sea trials in Cairns, Australia. Kraken expects to provide additional in-service support including training, spares and operational support. Continuing to build off successful KATFISH deliveries with various NATO navies, this represented Kraken’s first KATFISH system sale in the Asia-Pacific region.
This system delivery follows the results of a successful in-country demonstration of KATFISH™ for the Royal Australian Navy in Q1 of this year. Kraken’s team worked in concert with a local Australian survey company, to complete a 60km² feature detection survey that provided real-time ultra-high-resolution imagery and bathymetry of the seafloor along coastal waterways.
About KATFISH
The KATFISH is a high-speed seabed survey system providing ultra-high resolution seabed imagery and bathymetry for defense and commercial customers. The acoustic imagery and bathymetry collected by KATFISH systems provides customers with actionable intelligence about subsea assets and infrastructure such as subsea pipelines and fiber optic cables, as well as important hydrographic information about the safety of key transit routes for ocean going assets. Kraken has integrated KATFISH to a variety of manned and unmanned vessels of opportunity, providing both standalone turnkey seabed mapping as well as optional integration to a customer’s combat mission management systems. Kraken’s KATFISH high-definition seabed awareness solution consists of its KATFISH towed Synthetic Aperture Sonar, as well as Tentacle® Winch and Autonomous Launch and Recovery System.
Quote from the RAN:
“The purchase and operational employment of the Kraken KATFISH represents the first implementation of the Royal Australian Navy’s Combat Ready Prototyping acquisition approach. Kraken, the Royal Australian Navy and Australian Industry have worked closely together to ensure that latest technology has been given to our Sailors in record time, giving the Royal Australian Navy world leading capability.”
Quote from Kraken President:
“We are pleased to have delivered our KATFISH™ high-definition seabed awareness solution to the Royal Australian Navy,” said Kraken President and CEO, Greg Reid. “Our initial demonstration of the KATFISH system in Australia earlier this year was essential in providing the RAN an opportunity to evaluate system performance first-hand in real-world conditions. Kraken has had long-standing co-operation in Australia, starting in 2013 with acceptance of our first Interferometric SAS by Australia’s Defence Science and Technology Group. Since then, Kraken has had a positive relationship with Australian industry, and we are looking forward to this next phase of growth with our Australian customers.”
Figure 1: Kraken’s KATFISH on Australian Naval Vessel
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.
LINKS:
www.krakenrobotics.com
SOCIAL MEDIA:
LinkedIn www.linkedin.com/company/krakenrobotics
Twitter www.twitter.com/krakenrobotics
Facebook www.facebook.com/krakenroboticsinc
YouTube www.youtube.com/channel/UCEMyaMQnneTeIr71HYgrT2A
Instagram www.instagram.com/krakenrobotics
Certain information in this news release constitutes forward-looking statements. When used in this news release, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “seek”, “propose”, “estimate”, “expect”, and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company’s current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company’s public disclosure documents. Many factors could cause the Company’s actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release.
For further information:
Jack North, Marketing
jnorth@krakenrobotics.com
Joe MacKay, Chief Financial Officer
(416) 303-0605
jmackay@krakenrobotics.com
Greg Reid, President & CEO
(416) 818-9822
greid@krakenrobotics.com
Sean Peasgood, Investor Relations
(647) 955-1274
sean@sophiccapital.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fd517b84-af7c-4a19-ab33-eb45d46f1e5f
