Kraken Awarded $1.6 Million for AquaPix® Synthetic Aperture Sonar Systems
ST. JOHN’S, Newfoundland, May 30, 2022 (GLOBE NEWSWIRE) — Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean Company, is pleased to announce new contracts valued at more than $1.6 million for its AquaPix® Synthetic Aperture Sonar (SAS). Deliveries will occur in 2022. Due to confidentiality reasons the customers cannot be named.
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 uniquely positioned within the industry to bring this capability to the increasingly popular small, man-portable vehicle class. 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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Joe MacKay, Chief Financial Officer
Greg Reid, Chief Operating Officer
Sean Peasgood, Investor Relations