Unmanned Underwater Vehicles are Changing Business Models

Unmanned vehicles are profoundly impacting business models on land and in air. In the maritime sector, this sort of growth has been lagging, but it is beginning to catch up. Traditionally, unmanned vehicles, especially ROVs, have been critical to successful marine operations but have not changed the business model for maritime industries. The cost of vessels and staff still dominates the economics of most marine operations. This is now changing with the growth of “low-logistics” unmanned vehicles, including ROVs and AUVs. In the last decade, there has been a change in attitude towards AUV operations. Previously, the AUV was reserved for specialist activities in specific jobs, requiring much mobilization effort, dedicated vessels, and an extensive suite of ancillary equipment. The marine community may not be on the verge of profound disruption, like the kind brought about by aviation “drones,” but new low-logistics, high-performance unmanned vehicles are definitely offering new options for improved…

Next-Generation Acoustic Velocity Sensors for Underwater Navigation

Kraken’s Dr. Jeremy Dillon discusses the advantages of the company’s next generation acoustic velocity sensors. Kraken’s Correlation Velocity Log (CVL) technology resulted as an offshoot of research on its synthetic aperture sonar (SAS) technology. The CVL is a viable replacement for the incumbent industry technology, the Doppler Velocity Log (DVL). CVL in Sea Technology June 2015

Kraken Reports Q1 2015 Financial Results

ST. JOHN’S, NL–(Marketwired – June 02, 2015) – Kraken Sonar Inc. (TSX VENTURE: PNG) announced today it has filed its financial results for the first quarter ended March 31, 2015. Additional information concerning the Company, including its unaudited condensed consolidated interim financial statements and related management’s discussion and analysis (“MD&A”) for the quarter ended March 31, 2015, can be found atwww.sedar.com. ABOUT KRAKEN SONAR INC. Kraken Sonar Inc. (TSX VENTURE: PNG) is an industrial technology company, founded in 2012, that is dedicated to the production and sale of software-centric Synthetic Aperture Sonar (SAS) technology. The Company’s products have been sold to leading defence contractors, commercial survey companies and research institutions for producing real-time, ultra high resolution imagery and bathymetry of the seabed.Marine Technology Reporterhas twice named Kraken to their MTR100 — a list of the 100 most influential companies in the international marine technology marketplace. Neither the TSX Venture Exchange…

Kraken Appoints Greg Reid As Chief Financial Officer And Grant Options

ST. JOHN’S, NL–(Marketwired – June 01, 2015) – Kraken Sonar Inc.(TSX VENTURE: PNG) is pleased to announce that Greg Reid has joined the company as Chief Financial Officer (CFO), effective as of June 1, 2015. Mr. Reid is a seasoned executive with over twenty years of finance, investment, and business development experience, predominantly focused on the technology sector. Most recently, Mr. Reid was co-founder and President of GasGen Canada Ltd., a distributor of natural gas-based industrial engine generators. From 2004 to 2011, Mr. Reid was a founding partner of Wellington West Capital Markets Inc. and led the technology and clean technology research and then investment banking efforts until the sale of Wellington West Capital Inc. to National Bank Financial in 2011. Mr. Reid is a Charted Professional Accountant, Chartered Accountant, (CPA, CA) and Chartered Financial Analyst (CFA). The Company also announces that the board of directors of the Company has approved…

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