Kraken Awarded $0.6 Million Robotics as a Service (RaaS) Contract for Subsea Cable Survey
July 19 2021 - 5:00AM
Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean
Company™, is pleased to announce that it has been awarded a
Robotics as a Service (RaaS) contract from Newfoundland and
Labrador Hydro (formerly Nalcor Energy) for the Marine Inspection
of Strait of Bell Isle Submarine Cable. This cable provides power
to Newfoundland from Labrador. This $598,871 contract was the
result of a recent competitive tender issued by Newfoundland and
Labrador Hydro (formerly Nalcor Energy). Under the contract, Kraken
will deploy its KATFISH™ towed SAS sonar system including our
Automatic/Remote Launch and Recovery System (ALARS) deployed on the
R/V Ocean Seeker. This contract will be executed in Q3, 2021.
Contract Details and Kraken Service
EquipmentThe Strait of Bell Isle (SOBI) cable crossing
design consists of three (3) HVDC cables installed in three (3) HDD
cable conduits on each side of the SOBI that protect the cable from
icebergs. Each cable is routed along the seabed between the conduit
exits on the seafloor from Shoal Cove to Forteau Point,
Newfoundland and Labrador. Under the contract, Kraken will survey
the three cables along the crossing. Each cable route is
approximately thirty-one (31) kilometres long with twenty-seven
(27) kilometres laying on the seabed and four (4) kilometres
protected by cable conduits. Kraken’s Synthetic Aperture Sonar
(SAS) technology will provide NALCOR with ultra-high 3cm resolution
seabed imagery and 3D 25cm resolution bathymetry.
The R/V Ocean Seeker is based out of the Kraken
facilities in Dartmouth, Nova Scotia. The Ocean Seeker is a state
of the art 72-foot high-speed Catamaran Survey vessel which holds
the Kraken KATFISH™, Tentacle Winch™, and ALARS (see Figures 1-3).
Due to the KATFISH’s ability to process SAS data in real-time, data
will be instantly viewable onboard the vessel during the survey and
any cable or rock berm anomalies identified will be geolocated
providing the ability to collect additional data as needed. During
these survey operations, the Ocean Seeker will perform 12-hour
daily operations of the SOBI submarine cables.
Kraken has tested and validated a robust
positioning solution consisting of a tightly integrated Ultra Short
Baseline (USBL) and Inertial Navigation System (INS) solution,
based on iXBlue GAPS USBL (on vessel) and iXBlue PHINS C3 INS (on
KATFISH™). The iXBlue GAPS USBL acoustically tracks the position of
the KATFISH™, and automatically provides position updates to the
iXBlue PHINS C3 INS installed in the KATFISH™, via Ethernet
communication (over the fiber optic tow cable). The vessel is
positioned using a Hemisphere A222 with RTL corrections.
The KATFISH™ Navigational System includes a
sophisticated Fiber-Optic Gyro (FOG) based INS, aided by a Doppler
Velocity Log (DVL) and Depth Sensor integrated into the KATFISH™
towbody and a FOG-aided USBL positioning system integrated on the
tow vessel.
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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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