Kraken Announces $2.2 Million of Subsea Batteries and Sonar Contracts

Kraken Robotics Inc., Canada’s Ocean Company™, announces new contracts for subsea batteries and synthetic aperture sonar and new funding support totaling $2.2 million.

SeaPower™

Contract Updates
Kraken has received new orders totaling $0.7 million and funding awards for $1.5 million. Due to confidentiality reasons, our customers and partners cannot be named but are characterized below:

• An existing U.S. defense industry customer is acquiring additional SeaPower® batteries. This is the customer’s second order of Kraken batteries. Delivery will occur in the first half of 2021.
• A defense customer in the Southern Hemisphere has awarded Kraken a contract for an AquaPix MINSAS120 sensor for integration into the customer AUVs. Due to the modularity and advanced integrated motion sensors of the MINSAS, Kraken is expecting an additional contract for a custom payload section that will allow for easy transfer of the MINSAS system between the customers AUVs from two different AUV manufacturers. This is an industry unique capability of Kraken’s SAS systems. Delivery will occur in 2021.

Kraken has been notified of $1.5 million of funding awards across two projects. Germany’s Federal Research Minister announced in February that the Ocean Technology Center, Rostock, was one of seven clusters that will receive up to a total of €450 million over nine years. The Ocean Technology Center, Rostock, is expected to receive up to a total of €45 million of this funding. As part of the Ocean Technology Center campus in Rostock, Kraken Power will start two projects in Q4 of this year. These projects cover expanded thruster size and power range and new subsea battery and subsea charging solutions. The projects will last for 36 months.