Kraken Robotics - President and CEO, Karl Kenny
President and CEO, Karl Kenny
Source: Kraken Robotic Systems Inc.
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  • Kraken Robotics (PNG) is pleased to share several positive updates relating to the Company’s SeaVision®laser scanner Robotics as a Service offering
  • Kraken expects to generate significant RaaS revenue from SeaVision®laser inspection contracts
  • Kraken recently signed a contract with a major international energy company to provide a detailed underwater inspection of the customer’s subsea assets
  • Kraken recently completed extensive trials on Kraken‘s SeaVision based Mooring Chain Inspection Tool
  • Kraken recently completed a successful offshore mooring chain inspection campaign with a major Brazilian energy company
  • Kraken Robotics is a marine technology company
  • Kraken Robotics Inc. (PNG) opened trading at C$0.58 per share

Kraken Robotics (PNG) is pleased to share several positive updates relating to the Company’s SeaVision®laser scanner Robotics as a Service offering.

Kraken’s SeaVision 3D laser scanner technology will be used in the company’s RaaS offering focused on three primary markets: mooring chain inspections, ship hull inspection, and offshore wind farm inspection.

After several years of development and numerous trials and technology demos, Kraken expects to generate significant RaaS revenue from SeaVision®laser inspection contracts.

Notable updates are as follows:

  1. Kraken recently signed a contract with a major international energy company to provide a detailed underwater inspection of the customer’s subsea assets. Under the contract, Kraken’s SeaVision 3D laser scanner will be used to conduct an underwater inspection of an umbilical termination assembly to acquire metrology data on tubing within the internal structure. The work will be performed in Q4 of this year in a West African country. 
  2. Kraken recently completed extensive trials on Kraken‘s SeaVision based Mooring Chain Inspection Tool (MCIT). Combining the award-winning SeaVision technology with Kraken’s developed state-of-the-art deep learning object detection and 3D form matching technology, SeaVision MCIT will enable a time-efficient and contactless inspection. Kraken recently finished test runs in a tank facility using six links of a fully documented and analyzed mooring chain. The trials showed that Kraken’s MCIT software system can track and measure diameters within the required measurement envelope. As a result, Kraken will prepare the system for the first test deployment later this year with a goal of ramping a mooring chain inspection service offering in 2022.
  3. Kraken recently completed a successful offshore mooring chain inspection campaign with a major Brazilian energy company. Kraken is expected to offer ongoing support for diver-less underwater asset inspection in the Brazilian offshore energy market leveraging the SeaVision toolkit. Following this successful campaign, Kraken expects to expand its SeaVision mooring chain inspection service offering to additional international clients in 2022, including certification with an internationally recognized regulatory agency

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

“The offshore mooring market was valued at over US$ 1 Billion in 2020 and is expected to grow at a 3.7 % CAGR from 2021 to 2026 according to industry analyst, Market Study Report LLC. The largest market segment is offshore oil & gas FPSOs, accounting for over 2,000 km of mooring chains. There is also growing demand from offshore wind platforms. Kraken’s SeaVision MCIT tool provides a substitute to the conventional mechanical caliper used today for dimensional measurements resulting in a faster, objective, safer and contact-free measurement that reduces the number of offshore campaign days. This can save customers millions of dollars in operational costs and CO2 emissions associated with vessel operations and can provide significant improvement in asset integrity assurance. After several years of technology development, trials, and paid demos, Kraken expects to ramp up and globally deploy a mooring chain inspection service offering in 2022.”

Kraken Robotics 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$0.58 per share.

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