Kraken’s KATFISH Towed Sonar Offers Strong Undersea Intelligence Value Proposition, The Canadian Business Journal

st. JOHNS, NEWFOUNDLAND & LABRADOR, Oct. 6, 2022 (GLOBE NEWSWIRE) — The war in Ukraine and the recent sabotage of the Baltic Sea’s Nodal Stream Underwater Pipeline put increasing demands on underwater technology It has been. Undersea intelligence when and where you need it most. Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), a Canadian Ocean Company™, is focused squarely on this market, significantly improving image quality and significantly reducing the time required for traditional seafloor surveys. We provide actionable research using a suite of techniques that shorten to Timely subsea intelligence.

Kraken’s KATFISH™ system has recently been demonstrated in several international naval exercises. This represented the ideal combination of Kraken’s rapidly deployable high-resolution seafloor mapping and robust launch and recovery solution for high water operations on vessels of opportunity.

Figures 1 and 2: KATFISH Towfish

KATFISH has garnered significant attention in the defense and commercial markets as a solution that offers an incredible value proposition for subsea intelligence. KATFISH is a fast, actively stabilized Synthetic Aperture Sonar (SAS) towfish that operates at speeds up to 10 knots. KATFISH’s high speed and constant resolution significantly improve Area Coverage Rate (ACR) by providing more useful data than traditional sidescan sonar. KATFISH provides a constant distance-independent 3 cm x 3 cm resolution and an Area Coverage Rate (ACR) of up to 4 km.²/hr, with swaths up to 400 meters, including simultaneous full-swath 3D bathymetry. After post-processing, constant resolution images of 1.9 cm x 2.1 cm are available.

KATFISH has been successfully integrated and deployed on over a dozen unique manned and unmanned vessels ranging from 12m to 80m in length. This includes technology demonstrations at the Advanced Naval Technology Expo (ANTX) and Trident Warrior in the US, WISEX events in the UK, and sales and integrations with US-Israel government defense customers and prime contractors. Germany, Poland, Denmark. By the end of 2022, Kraken plans to deliver six of her KATFISH systems to the NATO Navy, providing spare parts and a comprehensive training program.

Our KATFISH technology has been cited by numerous defense contractors and navies in various defense industry tenders in North America, Europe, the Middle East and Asia Pacific. These current or soon-to-be-published bids give Kraken hundreds of millions in his KATFISH revenue opportunities over the next five years. It is gaining momentum in the market as its customer list grows and its affordable system delivers strong performance.

Figure 3: KATFISH deployed from Canada’s Ocean Seeker Catamaran

Defense Market Opportunities Abundant
Kraken sees significant growth in the KATFISH defense market opportunity driven by several factors, most dominated by technology obsolescence amplified by a tense geopolitical climate. On the geopolitical front, the war between Russia and Ukraine has fueled interest in defense markets and technology, with most NATO countries planning to accelerate their defense spending. Additionally, other regions around the world, from the Middle East to the South China Sea to the Arctic, continue to be a keen focus and focus among the world’s powers, driving continued strong spending on next-generation undersea intelligence solutions like KATFISH. will be

While not a new threat, the recent Baltic pipeline leak has put the protection of subsea infrastructure back on top of the agenda. All nations are now acutely aware of the threats and potential impacts of various state and non-state actors involved in sabotaging energy and communications infrastructure above and below the seafloor. Today, over 400 submarine data cables carry approximately 98% of the world’s international internet data and telephone traffic. With so many countries relying on thousands of kilometers of undersea pipelines, power and communication cables that traverse the ocean floor, there is a real and present danger of vandalism to undersea infrastructure.

The Submarine Explosive Ordinance threat is an asymmetric threat in which low-cost mines and explosives damage or destroy critical assets, such as undersea pipelines and multi-billion dollar naval ships. Most of the minesweeping ships in service today are rapidly reaching the end of their useful life or becoming obsolete. Of her over 300 mine detection vessels in service in Europe, Asia Pacific and the Middle East/North Africa, more than 70% have been in service for her 20 years or more, according to industry data. In North America, mine search parties face similar challenges. Most navies around the world are undergoing or planning to undertake major technology upgrades or replacements. With this industry upgrade cycle underway, Kraken is well-positioned to offer a variety of solutions.

Figure 4-7: KATFISH sea trials with the Danish Navy

Commercial Market Growth Driven by Offshore Wind and Oil & Gas
As a dual-use technology, KATFISH’s value proposition is gaining traction in the commercial market as well, with new customers in offshore oil and gas, power and offshore wind. Kraken offers the ability to generate ultra-high resolution data with high area coverage rates, resulting in more economical data acquisition costs for customers. In the commercial market, customers want her KATFISH as a turnkey service offering, unlike in the defense market where customers generally prefer to purchase her KATFISH and operate it themselves.

Figure 8: Thayer Mahan’s KATFISH deployed to survey an offshore wind farm

As shown in Figure 9 below, building offshore wind energy over the next decade or more will require high-resolution mapping and imaging of the seabed and seabed before, during, and after construction of these seabeds. It brings great opportunities. Infrastructure project. Kraken’s platform and sensors provide key technologies that help decision makers mitigate risk and economically build and maintain offshore wind farms.

Figure 9: Projected offshore wind spending by region from 2021 to 2023

Kraken currently operates the KATFISH system in Halifax, Canada, deployed on board the R/V Ocean Seeker high-speed catamaran for demonstrations, engineering tests and evaluations, and coastal surveys. The company is actively diversifying into commercial operations with his KATFISH system and in 2023 his KATFISH system in Europe will be available for customer demonstrations and service work.

Figure 10: Oil and Gas Image – Flowline and Riser Base

Figure 11: Oil and Gas Image – Drill Center and Flowline

Link
www.krakenrobotics.com

About Kraken Robotics
Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine technology company that specializes in manufacturing and marketing software-centric sensors, subsea batteries 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 services company specializing in high-resolution 3D acoustic imaging solutions under the seafloor. With offices in Canada, the US and the UK, PanGeo is now a wholly owned subsidiary of Kraken. Kraken is ranked as one of the top 100 marine technology companies by Marine Technology Reporter.

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For more information, please contact:

Joe McKay, Chief Financial Officer
(416) 303-0605
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Greg Reid, Chief Operating Officer
(416) 818-9822
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Sean Piesgood, Investor Relations
(647) 955-1274
[email protected]

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