Kraken Reports Q2 2017 Financial Results

ST. JOHN’S, NEWFOUNDLAND, August 30, 2017 /Marketwired/ — Kraken Sonar Inc. (TSX-V: PNG) (OTCQB: KRKNF) announced it has filed its financial results for the second quarter ended June 30, 2017. Additional information concerning the Company, including its audited consolidated financial statements and related management’s discussion and analysis (“MD&A”) for the quarter ended June 30, 2017, can be found at www.sedar.com. Unless otherwise stated, all dollar amounts are Canadian dollar denominated. CEO Comments “Q2 represented a very busy quarter of strategic activity at Kraken as we continued to put in place the structure to deliver a world class sensor, system and service offering to the global market”, stated Karl Kenny, President and CEO of Kraken. “While our quarter-to-quarter revenues can be lumpy, we are very excited about the second half of 2017 and 2018 as we believe business development efforts made over the last 18 months are about to bear significant…

Atlas Elektronik Awards Kraken $425,000 Contract

AquaPix® MINSAS Integrated Onboard ATLAS SeaCat Autonomous Underwater Vehicle ST. JOHN’S, NEWFOUNDLAND, August 30, 2017 /Marketwired/ – Kraken Sonar Inc. (TSX-V: PNG) (OTCQB: KRKNF) announced today that its wholly-owned subsidiary, Kraken Sonar Systems Inc. has been awarded a contract valued at over C$425,000 by ATLAS ELEKTRONIK Canada. Kraken will supply and integrate its AquaPix® Miniature Interferometric Synthetic Aperture Sonar and Real-Time SAS Signal Processor on the Atlas SeaCat Autonomous Underwater Vehicle (AUV). Delivery is expected in September 2017. AquaPix® is designed for operation on AUVs and towed platforms. The modular system uses the latest electronics, transducer arrays and signal processing software optimized for the demanding size, weight, power and cost constraints of unmanned maritime vehicles. SeaCat is an approximately 3 metre and 280kg (depending on configuration) mid-size, modular, hybrid AUV that provides remotely operated vehicle (ROV) and AUV capabilities “as a truck” to the operating theatre. SeaCat has been fully…

AWI Retrieves Its Underwater Robot After Year Long Mission

Deep-sea researchers from the Alfred Wegener Institute, Helmholtz Centre for Polar and Marine Research (AWI) have recovered the underwater robot Tramper, which had been taking measurements at a depth of 2435 metres for nearly 60 weeks – the first long-term mission involving a crawler under the Arctic sea ice. AWI Retrieves Its Underwater Robot After Year-Long Mission

AUV Finds Long Lost USS Indianapolis

A team piloting Microsoft co-founder Paul Allen’s research vessel, the R/V Petrel, has found the wreck of the USS Indianapolis at the bottom of the Philippine Sea. The USS Indianapolis played an important role in WWII history, including the delivery of parts for the atomic bombs that would eventually drop on Japan. Its wreck has remained elusive despite multiple expeditions over the past 72 years. The Petrel relied on an autonomous underwater vehicle that could dive roughly 18,000 feet below the water and hunt about 600 square miles using sonar and bathymetry.   https://www.engadget.com/2017/08/20/paul-allen-team-finds-uss-indianapolis/

China Using Underwater Drones in South China Sea

China dropped a dozen underwater drones, also known as unmanned underwater vehicles, in an unspecified location in the South China Sea to carry out “scientific observations,”according to state-run media outlet Xinhua. The torpedo-shaped vehicles — called Haiyi, or sea wings in Mandarin — will remain underwater for a month, according to reports.   https://www.cnbc.com/2017/08/12/china-uses-underwater-drones-in-south-china-sea.html

Atlas Elektronik Wins UK Order for Over 30 Workboats

Atlas Elektronik UK (AEUK) has been awarded a contract valued at £48m for the supply and support of up to 38 Common Workboats for the UK’s Ministry of Defense (MoD) over a six-year period. Ranging in size from 11 to 18 meters, the multi-role ‘SEA Class’ vessels share common components and will be modular in design. This unique approach enables rapid reconfiguration for a range of specialized operational roles, including: Dive support; Explosive Ordnance Disposal; Officer training; Passenger transport; Arctic exploration, Hydrographic survey and Logistic re-supply. UK’s Ministry of Defence orders over 30 workboats from Atlas Elektronik    

Kraken Named To Marine Technology Top 100

ST. JOHN’S, NEWFOUNDLAND – AUGUST 9, 2017— /Marketwired/ –  Kraken Sonar Inc. (TSX-V: PNG) (OTCQB: KRKNF) announced today that its wholly-owned subsidiary, Kraken Sonar Systems Inc. has again been named by Marine Technology Reporter to the MTR100 2017 – a list of the 100 most influential companies in the international marine technology marketplace. This is the fifth year in a row that Kraken has been selected. In addition to being named to the MTR 100, Kraken was listed as one of the top 17 Technology Disruptors in the marine technology industry for its Robotics as a Service business model. Gregory Trauthwein, Associate Publisher & Editor of Marine Technology Reporter said, “True innovation has been the hallmark of the MTR100 since we launched it in 2006, and it remains at the core today in our presentation of the 12th Annual MTR100. This year we saw another record number of applicants from…

Kraken Provides Corporate Update and Announces New Team Members

Sensors-to-Systems Strategy Continues to Advance ST. JOHN’S, NEWFOUNDLAND, 03 AUGUST 2017 /Marketwired/ – Kraken Sonar Inc. (TSX-V: PNG) (OTCQB: KRKNF) is pleased to update our shareholders on recent corporate developments. “Since our last update, we have not only expanded our current strategic relationships but are also in discussions with potential new strategic partners that could expand our markets and accelerate growth,” said Karl Kenny, Kraken’s President and CEO. “Our recent hires in Germany add new customer relationships and advance our technical depth required to deliver our Robotics-as-a-Service (RaaS) business model, something demanded by energy industry enterprises seeking more economic and effective solutions than those provided by incumbent service providers.” Key Business Updates Avro Arrow search has begun and is expected to generate over C$250,000 of RaaS revenue in Q3; Elbit’s KATFISH™ is now set for delivery in September; Kraken has received 85% of milestone payments associated with this contract; C$400,000…

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