Kraken Robotics Inc. announced the acquisition of a $9.5 million contract to supply advanced seabed mapping sonar equipment to an undisclosed navy in the Asia-Pacific region. The contract, which encompasses Kraken’s KATFISH™ high-speed minehunting solution, also includes support and sustainment options such as training, spares, and operational assistance.
Scheduled for delivery in Q2 of 2023, Kraken’s offerings under this agreement will comprise the KATFISH towed Synthetic Aperture Sonar, Tentacle® Winch, and the Autonomous Launch and Recovery System (ALARS). These technologies will be integrated onto a vessel of opportunity carefully selected by the customer, marking Kraken’s inaugural KATFISH system sale within the Asia-Pacific region.
This contract follows an in-country demonstration of the KATFISH™ system earlier this year, wherein Kraken collaborated with a local survey company to conduct a 200 km seabed survey. The demonstration showcased the real-time ultra-high-resolution imagery and bathymetry capabilities of Kraken’s equipment.
Kraken continues to see growth opportunities across global markets, driven by several industry trends that emphasize the need for its synthetic aperture sonar technology. Key factors include a heightened focus on maritime security and the safeguarding of subsea infrastructure. Additionally, the industry is experiencing an upgrade cycle, with a gradual shift towards smaller unmanned surface vessels for efficient mine hunting. Over the next 5-10 years, more than 300 manned mine hunting vessels, aged over 20 years, will require upgrades or replacements, with many being substituted by smaller, unmanned counterparts.
The commercial market also presents growth prospects for Kraken, as there is an escalating demand for high-resolution data in seabed surveys and subsea asset inspections within the offshore oil and gas as well as the offshore wind sectors. This expanding requirement drives the need for Kraken’s technology.