- Kraken Robotics stock (TSXV:PNG) is up after supplying high-resolution seabed mapping sonar equipment to the Royal Australian Navy
- Additional in-service support will follow under the $9.5 million mine-detection deal, including training, operational support and provision of spare parts
- Kraken Robotics is a marine technology company providing complex subsea sensors, batteries and robotic systems
- Kraken Robotics stock (TSXV:PNG) is up by approximately 8.5 per cent year-over-year and by more than 350 per cent since 2011
Kraken Robotics stock (TSXV:PNG) is up after supplying high-resolution seabed mapping sonar equipment to the Royal Australian Navy.
The microcap company recently finalized integration of its Katfish high-speed, high-definition seabed awareness system, which included sea trials in Cairns, Australia. Additional in-service support will follow under the $9.5 million mine-detection deal, including training, operational support and provision of spare parts.
The delivery is the result of a successful in-country demonstration in Q1 2023 composed of a 60-square-kilometre feature detection survey on the seafloor along coastal waterways.
The Katfish is a high-speed seabed survey system that provides ultra-high resolution imagery and bathymetry for defense and commercial customers. The system is composed of Kraken’s Synthetic Aperture Sonar (SAS), Tentacle Winch and Autonomous Launch and Recovery System. Applications include subsea pipelines, fibre-optic cables, key transit route safety and combat mission management systems.
The Katfish sale is Kraken Robotics’ first in the Asia-Pacific region and follows deliveries to numerous NATO navies, as announced in April 2023 and December 2022.
“The purchase and operational employment of the Kraken Katfish represents the first implementation of the Royal Australian Navy’s Combat Ready Prototyping acquisition approach,” the Royal Australian Navy stated in Monday’s announcement. “Kraken, the Royal Australian Navy and Australian industry have worked closely together to ensure that latest technology has been given to our sailors in record time, giving the Royal Australian Navy world-leading capability.”
“Kraken has had long-standing co-operation in Australia, starting in 2013 with acceptance of our first Interferometric SAS by Australia’s Defence Science and Technology Group,” added Greg Reid, Kraken Robotics’ president and CEO. “Since then, Kraken has had a positive relationship with Australian industry, and we are looking forward to this next phase of growth with our Australian customers.”
Kraken Robotics is a marine technology company providing complex subsea sensors, batteries and robotic systems.
Kraken Robotics stock (TSXV:PNG) is up by 4.08 per cent trading at C$0.51 per share as of 9:39 am ET. The stock is up by approximately 8.5 per cent year-over-year and by over 350 per cent since 2011.
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