Kraken Robotics - President and CEO, Karl Kenny
President and CEO, Karl Kenny
Source: Kraken Robotic Systems Inc.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Kraken (PNG) has signed a follow-on contract to supply minehunting systems as part of a contract for new Mine Countermeasure Vessels (MCMVs) for a NATO Navy
  • Kraken will deliver additional KATFISH, Tentacle Winch and ALARS and topside systems in 2023 and 2024
  • Kraken Robotics is a marine technology company
  • Kraken Robotics Inc. (PNG) opened trading at C$0.37

Kraken (PNG) has signed a follow-on contract to supply minehunting systems as part of a contract for new Mine Countermeasure Vessels (MCMVs).

As part of this new contract for a NATO Navy, Kraken will deliver additional KATFISH, Tentacle Winch and ALARS and topside systems. Kraken’s sonar equipment will be integrated onboard new MCMVs, with deliveries occurring in 2023 and 2024.

Karl Kenny, Kraken President and CEO, commented on the contract.

“We are very pleased to sign this follow-on contract to supply additional KATFISH and ALARS systems for this NATO Navy’s new minehunting vessels. Like many other NATO countries, Kraken’s customers are upgrading their minehunting capabilities, as the war in the Ukraine with Russia highlights the need for stronger national security. Against this global geopolitical backdrop, Kraken is seeing continued opportunities for growth in all regions of the world. With an innovative and world leading portfolio of synthetic aperture sonar technologies, we look forward to additional significant program wins both as prime contractor and in partnership with other global defense primes. Our next generation technology is commercially available today and offers industry leading performance and a highly competitive value proposition.”

Headquartered in Newfoundland, Kraken Robotics is a marine technology company offering software-centric sensors, subsea batteries and thrusters, and underwater robotic systems.

Kraken Robotics Inc. (PNG) opened trading at C$0.37.


More From The Market Herald

" The INX Digital Company (NEO:INXD) announces plans to integrate the Avalanche Blockchain with INX.One

The INX Digital Company (INXD) plans to fully integrate the Avalanche Blockchain with INX.One 

" Tenet (CSE:PKK) launches Cubeler Business Hub in North America

Tenet Fintech (PKK) announced its expansion into North America with the launch of the Cubeler Business Hub in Canada.

" Tenet (CSE:PKK) expands into North America, launches Cubeler Business Hub in Canada

Tenet Fintech Group (PKK) launched its Cubeler Business Hub in Canada with almost 5,000 pre-registered small and medium-sized enterprises (SMEs).