Kraken awarded $4.8M subsea battery contract from defense industry customer

Kraken awarded $4.8M subsea battery contract from defense industry customer
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ST. JOHN’S – Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean Company (TM), announced an order for subsea batteries from a US defense industry customer, for integration on Autonomous Underwater Vehicles (AUVs). The order is valued at $4.8 million with deliveries occurring in 2022. For confidentiality reasons, they did not disclose the customer’s name.

Kraken’s SeaPower(TM) 6000-meter rated pressure tolerant batteries are based on Kraken’s unique pressure tolerant gel encapsulation technology for lithium polymer batteries. This provides an attractively priced, environmentally friendly, and superior energy density alternative to the traditional oil compensated batteries commonly used for deep subsea battery applications. Kraken’s hot swappable batteries are modular and include an integrated battery management system within each battery module which provides a very high level of redundancy and safety to the vehicle.

Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine technology company dedicated to the production and sale of software-centric sensors, subsea batteries and thrusters, and underwater robotic systems. The company is headquartered in Newfoundland with offices in Canada, U.S., Germany, Denmark, and Brazil. In July 2021, Kraken acquired PanGeo Subsea, a leading services company specializing in high-resolution 3D acoustic imaging solutions for the sub-seabed. PanGeo with offices in Canada, the United States and the United Kingdom is now a wholly owned subsidiary of Kraken. Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter.

 

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