- Marine technology company, Kraken Robotics (PNG) has received three defense customer orders, worth approximately C$1 million combined
- The first is a follow-on order for MINSAS 60 LW sensors for man-portable vehicles, set for delivery in 2020’s fourth quarter
- The second is the sale of SeaVision laser scanner to a large defense contractor in the United States
- The third is a purchase order to Kraken’s Acoustic Signal Processing Group (APSG), from an international defense contractor
- Kraken Robotics (PNG) is down 3.45 per cent and is currently trading at C$0.56 per share
Marine technology company, Kraken Robotics (PNG) has received three defense customer orders, worth approximately C$1 million combined.
The first order is a follow-on order for the company’s MINSAS 60 LW sensors, which are for man-portable vehicles. Kraken Robotics originally developed this solution, with support and funding from the United States Navy and Foreign Comparative Test Program.
The initial order of MINSAS sensors was shipped at the end of 2020’s second quarter. The final delivery of this follow-on order is scheduled for delivery in the fourth quarter of 2020.
The second order is for the sale of a SeaVision laser scanner, to a large defense contractor in the US. Delivery of this order also occurred in 2020’s second quarter.
Finally, the third purchase order was issued to Kraken Robotics’ Acoustic Signal Processing Group (APSG). The order from a leading international defense contractor was issued under an eight-year framework agreement announced in 2020’s first quarter.
Under the third contract, Kraken Robotics will provide development, maintenance, and training to the customer. Specifically, these services will enhance and modernise the defense contractor’s sonar product.
Kraken Robotics’ President and CEO, Karl Kenny, commented on this latest round of defense contracts for the company.
“We continue to make inroads with US and international navies and defense contractors.
“We are especially excited to deliver our first MINSAS 60 LW sensor as a reasonably priced, high performance sonar upgrade path for existing man-portable AUV’s, as well as new builds,” he said.
Kraken Robotics (PNG) is down 3.45 per cent and is trading at C$0.56 per share at 2:54pm EDT.
