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Pan Geo Subsea of ​​the Kraken Robotics Company received a $ 5 million decommissioning campaign from the Couvillion Group of the Canadian Business Journal.

ST. Johns, Newfoundland and Labrador, March 30, 2022 (GLOBE NEWSWIRE) — Pan Geo Subsea, a wholly owned subsidiary of Canada’s Ocean Company ™ Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF). Announced the award. His Couvillion Group, with a $ 5 million Acoustic Corer ™ contract in the Gulf of Mexico, has issued this decommissioning project to PanGeo to begin in the second quarter of 2022. This 90-day campaign is the largest Acoustic Corer ™ project we have ever undertaken.

In 2004, an offshore jacket collapsed due to a landslide caused by a storm. The jacket is placed on the seabed underwater at 150 meters, with the conductors on the seabed buried under 60 meters of mud. PanGeo uses high-resolution subseafloor imaging technology to identify where conductors are located in the debris field and provide valuable information that enables plug planning and well abandonment.

In addition to this debris survey, PanGeo recently issued a multi-million dollar Acoustic Corer ™ campaign (50 days) targeting offshore wind farms in the Baltic Sea that image subseafloor rocks. Reduces the risk of pile rejection.

Other technologies in the PanGeo service portfolio include the ROV-equipped Sub-Bottom Imager ™ and the remote-controlled tow vehicle SeaKite ™. These technologies acquire subseafloor 3D acoustically synthesized aperture sonar with a resolution of 10 cm or higher.

Management comment
Moya Cahill, CEO of Pangaion, said: The team completes a complete site survey of the debris field. “

Timmy Couvillion, CEO of the Couvillion Group, said:

Link

www.pangeosubsea.com
www.krakenrobotics.com

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KRAKENROBOTIC SINC.about
Kraken Robotics Inc. (TSX.V: PNG) (OTCQB: KRKNF) is a marine technology company specializing in the manufacture and sale of software-centric sensors, underwater batteries and thrusters, and underwater robotic systems. The company is headquartered in Newfoundland with offices in Canada, the United States, Germany, Denmark and Brazil. In July 2021, Kraken acquired PanGeo Subsea, a leading service company specializing in undersea high-resolution 3D acoustic imaging solutions. With offices in Canada, the United States and the United Kingdom, PanGeo is now a wholly owned subsidiary of Kraken. Kraken is ranked among the top 100 marine technology companies by the Marine Technology Reporter.

The specific information in this news release constitutes a forward-looking statement. When used in this news release, “may”, “do”, “can”, “do”, “intention”, “plan”, “expect”, “believe”, “seek”, The terms “suggest”, “estimate”, “expectation”, and similar expressions are relevant to us and are intended to identify forward-looking statements. In particular, this news release contains statements, among other things, about business goals, expected growth, performance, performance, business projects and opportunities, and future prospects for financial results. These statements include known and unknown risks, uncertainties, and other factors that may cause actual results and events to differ materially from those expected in such forward-looking statements. increase. Such statements reflect our current views on future events based on certain key factors and assumptions, including market changes, competition, government or regulatory trends, general economic conditions and other matters. Subject to certain risks and uncertainties, including but not limited to set factors. It is described in our public disclosure document. Due to many factors, including but not limited to the above, our actual results, performance, or performance may differ from those described in this news release. These factors should not be construed as exhaustive. If one or more of these risks or uncertainties become apparent, or if the assumptions underlying the forward-looking statements are found to be incorrect, the actual results are those set forth in this news release. , And such forward-looking statements contained in this news or incorporated by reference may differ materially. Release, should not be overly trusted. Such statements are only made as of the date of this news release. We have no intention or obligation to update these forward-looking statements. The forward-looking statements contained in this news release are explicitly modified by this notice.

Neither TSX Venture Exchange Inc. nor its regulatory service offering (the term is defined in the TSX Venture Exchange policy) is responsible for the validity or accuracy of this release, and OTCQB approves or disapproves this content. Is not … Press release.

For more information, please contact:

Chief Financial Officer Joe Mckay
(416) 303-0605
jmackay@krakenrobotics.com

Chief Operating Officer, Greg Reed
(416) 818-9822
greid@krakenrobotics.com

Sean Peasgood, Investor Relations
(647) 955-1274
sean@sophiccapital.com


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Pan Geo Subsea of ​​the Kraken Robotics Company received a $ 5 million decommissioning campaign from the Couvillion Group of the Canadian Business Journal.

Source link Pan Geo Subsea of ​​the Kraken Robotics Company received a $ 5 million decommissioning campaign from the Couvillion Group of the Canadian Business Journal.

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