Kraken to Equip New AUV Customer with AquaPix® Sonar and SeaPower® Batteries
April 28 2021 - 5:00AM
Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean
Company™, is pleased to announce new purchase orders for a
6000-meter rated AquaPix® MINSAS 120 sonar and SeaPower® batteries
totalling over $1.2 million from a new AUV customer. Due to
customer confidentiality, Kraken cannot provide more details at
this time. The Company expects to fulfill these orders in 2021.
Kraken’s batteries and sensors will be
integrated on this customer’s survey-grade AUV and this order
follows initial integration and sea trials of Kraken’s AquaPix®
MINSAS in 2020. Kraken’s AquaPix® MINSAS is an off the shelf
configurable SAS which replaces high end sidescan systems at an
affordable price, while delivering significantly higher resolution,
range, and area coverage rates (ACR). The increased range and
resolution and associated higher ACR of SAS over traditional
systems can significantly expand the capabilities of the customer’s
AUV systems for a variety of tasks for naval, scientific, and
commercial applications. Kraken’s MINSAS is capable of 2 cm x 2 cm
Ultra High-Definition SAS imaging which is ideal for stringent
requirements of marine mineral surveys.
The integration of Kraken’s SeaPower® 6000-meter
rated pressure tolerant batteries will enable the customer to
nearly double its mission durations. Extended bottom time is a
highly beneficial feature to deep water AUVs as it increases area
coverage rates while reducing the number of launch and recovery
operations per survey which is the highest risk component of the
mission.
Kraken’s unique pressure tolerant gel
encapsulation technology for lithium polymer batteries provides an
attractively priced, environmentally friendly, and superior
alternative to the oil compensated batteries currently used for
subsea battery applications. Kraken’s hot swappable batteries are
modular and include an integrated battery management system within
each battery module which provides a very high level of redundancy
and safety to the vehicle.
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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 thrusters, and
underwater robotic systems. The company is headquartered in
Newfoundland with offices in Canada, U.S., Germany, Denmark, and
Brazil. Kraken is ranked as a Top 100 marine technology company by
Marine Technology Reporter.
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, please contact:Joe MacKay, Chief
Financial Officer(416) 303-0605jmackay@krakenrobotics.com
Greg Reid, Chief Operating Officer(416)
818-9822greid@krakenrobotics.com
Sean Peasgood, Investor Relations(647)
955-1274sean@sophiccapital.com
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