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  • Kraken Robotics has received a follow on purchase order valued at $0.4 million
  • Purchase orders received from this customer in 2021 total $0.7 million
  • Kraken will provide development, maintenance, and training to the customer to enhance and modernize their sonar product
  • Kraken Robotics is a marine technology company
  • Kraken Robotics Inc. (PNG) opened trading at C$0.61 per share

Kraken Robotics (PNG) has received a purchase order valued at $0.4 million from a leading international defence contractor.

This work is expected to be completed in 2021. Purchase orders received from this customer in 2021 total $0.7 million.

These orders fall under the 8-year framework agreement signed in January 2020.

Under the agreement, Kraken will provide development, maintenance, and training to the customer to enhance and modernize their sonar product.

The customer’s name and additional contract details cannot be disclosed for confidentiality reasons.

Kraken Robotics Inc. (PNG) is a marine technology company dedicated to the production and sale of software-centric sensors, subsea batteries and thrusters, and underwater robotic systems.

Kraken Robotics Inc. (PNG) opened trading at C$0.61 per share.

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