Kraken Secures Government of Canada Funding to Support Development of Acoustic Velocity Sensor

ST. JOHN’S, NEWFOUNDLAND – JANUARY 21, 2013 – Kraken Sonar Systems Inc., a leading marine technology company, announced today that it has signed a Contribution Agreement with the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP). The funding will be applied to the development of AquaTrak™ – a new Correlation Velocity Log (CVL) designed for underwater navigation. AquaTrak™ will be used to measure the speed over ground of Unmanned Underwater Vehicles (UUVs) and can also be used for high resolution current profiling. Accurate positioning is a significant problem in the operation of UUVs. While GPS can be used to provide navigational information to surface vessels, it does not work underwater. Most of the Earth’s unexplored surface lies underwater and therefore there is a real need for accurate positioning in this environment. Presently, the primary technology used for underwater navigation and current profiling is the Doppler Velocity Log…

Kraken Awarded AquaPix® Sonar Contract by Australia’s Defence Science and Technology Organisation

ST. JOHN’S, NEWFOUNDLAND – JANUARY 14, 2013 – Kraken Sonar Systems Inc., a leading marine technology company, announced today that it has been awarded a contract for an AquaPix® Interferometric Synthetic Aperture Sonar system by Australia’s Defence Science and Technology Organisation (DSTO). DSTO is the Australian government’s lead agency charged with applying science and technology to protect and defend Australia and its national interests. DSTO delivers expert, impartial advice and innovative defence solutions to agencies such as the Royal Australian Navy. Kraken’s AquaPix® Interferometric Synthetic Aperture Sonar (InSAS) system provides seabed images with unprecedented image resolution and detail. The system leverages the sophisticated signal processing capabilities and unique imaging technologies of Kraken’s revolutionary INSIGHT™ SAS image processing software. Precision sonar imaging techniques sharpen detail and enhance the shadow definition of underwater objects. The exceptional image quality improves accuracy and increases confidence in decision-making. AquaPix® is capable of providing detailed seabed…

Kraken Acquires Synthetic Aperture Sonar Intellectual Property from Marport

ST. JOHN’S, NEWFOUNDLAND – JANUARY 07, 2013 – Kraken Sonar Systems Inc. announced today that it has acquired all Intellectual Property (IP) rights to the AquaPix® Synthetic Aperture Sonar (SAS) technology platform from Marport Deep Sea Technologies Inc. Kraken was recently spun-out from Marport and is headquartered in St. John’s, Newfoundland. Kraken’s senior management team includes Karl Kenny as President and CEO; Dr. Marc Pinto as Chief Technology Officer; Sean Chapman as Chief Sonar Engineer and David Shea as Engineering Manager. “While Synthetic Aperture Sonar is an important marine technology with significant market potential we feel it requires dedicated management, engineering and financial resources to efficiently advance commercialization,” said Cyril McKelvie, President and CEO of Marport. “Marport has incubated the development of the AquaPix® SAS platform for the past two years. We believe the transaction with Kraken provides the best opportunity for successful product commercialization while ensuring our shareholders have…

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