Kraken qualified to sell directly to Government of Canada under new program

Kraken qualified to sell directly to Government of Canada under new program
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ST. JOHN’S – Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean Company, announced that after successful completion of an Innovative Solutions Canada (ISC) Testing Stream contract with the Royal Canadian Navy earlier this year, Kraken has been among the first Canadian companies qualified to sell its innovation directly to the Government of Canada without further competition. This qualification for Kraken’s OceanVision™ solution is under Canada’s new Pathway to Commercialization framework initiated by ISC. While this approval does not have a value in of itself, direct purchases can be up to $8 million per contract and are available to all government departments.

Commenting on this new PTC program, Karl Kenny, Kraken President and CEO noted, “Over the past year, Kraken has had significant interest in its technologies and services from various Canadian Government departments and agencies. We are excited to be able to offer the OceanVision service via ISC’s new PTC program to be an avenue for these departments and agencies to avail of our needed and innovative solutions. Potential applications of the OceanVision service could include habitat mapping and monitoring of Marine Protected Areas (MPAs), high resolution seabed mapping for augmenting Route Survey applications in Port and Harbour Security, or even shipwreck search and survey for marine archaeological requirements. We see significant potential for this service here in Canada.”

Kraken’s OceanVision service provides off the shelf, turnkey ultra-high resolution Synthetic Aperture Sonar (SAS) seabed imagery and bathymetry at an affordable price, delivering higher resolution, range, and area coverage rates (ACR). The increased range, resolution and associated higher ACR of SAS over traditional Side Scan Sonar and Multibeam Sonar systems significantly expands the capabilities of military, scientific, and commercial applications. Kraken’s OceanVision is capable of 2 cm x 2 cm Ultra High-Definition imaging at long ranges.

Kraken’s OceanVision Service can provide significant benefits to government agencies, offering access to cutting edge technology “as needed”, without concern for equipment obsolescence, life cycle costs, or operator skill fade. As it relates specifically to the Government of Canada, Kraken’s OceanVision offers many advantages:

  • Kraken’s technology greatly enhances image quality and significantly reduces the time of traditional seabed surveys due to its advanced world-leading technology.
  • OceanVision assets can be deployed to assist in mapping areas of interest ahead of regular operations, with the image quality required to enable change detection and optimize revisit rates. This has the potential to provide the Government of Canada a competitive edge for detecting bottom objects in complex seabeds.
  • The OceanVision service application can augment existing survey activities while simultaneously supporting nearshore hydrographic mapping and charting requirements on an annual basis with high-definition resolution, freeing up valuable Government assets for other mission critical functions.
  • OceanVision provides online and offline data analysis capabilities, enabling users to leverage Kraken’s extensive experience in image processing, target detection, and bottom classification.

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 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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