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M&A / Property

Kraken Robotics receives $24-million of new orders

By The Northwire Desk — AI Analysis Mar 17, 2026 · 11:18 PNG · 9.60 Kraken Robotics Inc
PNG · Price

Executive Summary

  • Kraken Robotics announced approximately $24 million in new orders from over 10 customers across five countries, including three new defense clients.
  • The orders include SeaPower batteries, Katfish towed synthetic aperture sonar (SAS), and Kraken SAS systems.
  • The release also provides an update on the previously announced acquisition of Covelya Group Ltd., stating it is expected to close in Q2 2026.

Key Details

  • Total Order Value: Approximately $24 million.
  • Customer Base: Over 10 customers across five countries, including three new defense customers.
  • Product Breakdown:
    • SeaPower batteries (sales noted as strong with diversifying client base).
    • Katfish towed synthetic aperture sonar (SAS).
    • Kraken SAS.
  • Specific Contract Details:
    • Sale of a new Katfish system to the Polish Navy for their mine-hunting program (Kormoran II class vessels).
    • Sale of SAS systems to multiple defense customers for autonomous underwater vehicle (AUV) platforms.
    • The Polish Navy order was placed through partner Thesta, appointed as an authorized reseller during the Oceanology International exhibition.
  • Operational Update: Manufacturing of SeaPower batteries at the new Nova Scotia facility is coming online in the next month, significantly expanding production capacity.
  • M&A Update: On March 3, 2026, Kraken announced the acquisition of Covelya Group Ltd. (subsidiaries include Sonardyne, EIVA, Forcys, Wavefront Systems, Voyis Imaging, and Chelsea Technologies). The transaction is expected to close in Q2 2026, subject to regulatory approvals and customary conditions.

Notable Quotes

  • "SeaPower battery sales continue to be strong, with several new clients further diversifying our customer base in this area of the business. Manufacturing of our batteries in our new Nova Scotia facility is coming online in the next month, significantly expanding our production capacity," said Greg Reid, president and chief executive officer of Kraken Robotics.
  • "We are also pleased to share that we have sold a new Katfish to the Polish Navy for their mine-hunting program and SAS to multiple defence customers for their autonomous underwater vehicle (AUV) platforms."
Read the original news release →

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