Kraken Robotics receives $12-million in orders

Executive Summary

• Kraken Robotics Inc. has secured approximately $12 million in purchase orders for its synthetic aperture sonar (SAS) and SeaPower battery products.
• The orders originate from multiple organizations, including Teledyne Marine, Terradepth, and two NATO member country navies.
• The deal highlights the dual-use nature of Kraken's technology, serving both defense and commercial sectors such as maritime security and offshore energy.

Key Details

• Total Order Value: Approximately $12 million.
• Products Ordered:
  • Kraken Synthetic Aperture Sonar (SAS).
  • Katfish towed SAS spares.
  • SeaPower batteries.
• Key Customers/Counterparties:
  • Teledyne Marine: Ordered both Kraken SAS and SeaPower batteries for integration on their Gavia and SeaRaptor autonomous underwater vehicles (AUVs) for unnamed clients.
  • Terradepth: Ordered Kraken SAS for integration into their Absolute Ocean operating system, which aggregates multidomain ocean data for US military and commercial operators.
  • Navies: Two navies from NATO member countries placed orders.
• Strategic Context:
  • Orders include expected purchases made before fiscal year-end budget resets.
  • Two new SeaPower battery customers were added to the order book.
  • Products are platform-agnostic, suitable for integration on AUVs ranging from small man-portable systems to XLUUVs (Extra Large Unmanned Underwater Vehicles).
  • Kraken supports clients in more than 30 countries worldwide.

Notable Quotes

• "As we near the end of the calendar year, we are seeing many expected orders coming through before budgets reset, including two new SeaPower battery customers," said Greg Reid, president and chief executive officer of Kraken Robotics. "Clients are from both defence and commercial organizations, highlighting how Kraken's dual-use technology is critical across a variety of applications, from maritime security to offshore energy."