Kraken Reports Positive Net Income in Q3

ST. JOHN’S, NEWFOUNDLAND, November 30, 2017 /Marketwired/ — Kraken Robotics Inc. (TSX-V: PNG) (OTCQB: KRKNF) (the “Company” or “Kraken”) announces that it has filed its financial results for the third quarter ended September 30, 2017. Additional information concerning the Company, including its unaudited consolidated financial statements and related management’s discussion and analysis (“MD&A”) for the quarter ended September 30, 2017, can be found at www.sedar.com. Unless otherwise stated, all dollar amounts are Canadian dollar denominated. CEO Comments “The third quarter was a solid quarter for Kraken”, said Karl Kenny, President and CEO of Kraken. “We delivered AquaPix® systems to two European customers, Kraken Germany shipped its first customized SeaVision™ laser imaging solution resulting in first revenues for Kraken Germany, and we recorded service revenue from two customers including the OEX Recovery Group and an unnamed global defense contractor. Year-to-date, we have received contracts totaling more than $7 million, which is…

Kraken Awarded $750,000 Oil & Gas Contract

ST. JOHN’S, NEWFOUNDLAND, NOVEMBER 16, 2017 /Marketwired/ — Kraken Robotics Inc. (TSX-V: PNG) (OTCQB: KRKNF) announced today that its wholly-owned subsidiary, Kraken Robotic Systems Inc. has been awarded a competitive contract valued at approximately $750,000 for the development of underwater sensors and robotics that will advance digitalization of integrated operations within Newfoundland and Labrador’s offshore oil and gas sector. Contract funding is being provided by Petroleum Research Newfoundland and Labrador (PRNL), InnovateNL and industry partners. The contract will commence in 4Q17 and conclude in 4Q18. Karl Kenny, Kraken President and CEO said, “We are very pleased to win this contract as it enables us further entry into the oil and gas industry. The rapid progression of technology such as sensors, robotics, big data and predictive analytics offer oil and gas operators the ability to digitize and automate high-cost, dangerous and error-prone tasks. While digitalization offers many potential benefits in the…

Avitas Systems – A New Model for Digital Transformation?

According to Forbes, every year, GE’s Minds and Machines conference makes a lot waves in the tech industry. Whether it’s new products or features, or whole new approaches to the way people and technology interact, there’s always something worth paying attention to. This year they noted a new partnership between Kraken Robotics and Avitas Systems, a GE Venture. View Article

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