May 15, 2018

ST. JOHN’S, NEWFOUNDLAND– 15 MAY 2018 /GLOBE NEWSWIRE/ – Kraken Robotics Inc. (TSX-V: PNG) (OTCQB: KRKNF), is pleased to announce that Kraken’s wholly owned subsidiary, Kraken Robotic Systems Inc., has successfully completed military standard certification testing of the KATFISH-M, a ruggedized version of Kraken’s KATFISH Towed Synthetic Aperture Sonar Platform.

KATFISH-M incorporates a state-of-the-art Synthetic Aperture Sonar (SAS) in a compact, lightweight and hydro-dynamically stable towed body. It uses advanced signal processing and algorithms to provide real-time, detection and classification against underwater mine threats.

Karl Kenny, Kraken’s President and CEO, said, “This military standard certification enables Kraken to address over $100 million of near term international navy contract opportunities that specify a higher level of product ruggedization than the commercial market. Kraken will showcase its KATFISH-M at the Advanced Naval Technology Exercise (ANTX) in August in the United States. ANTX is an annual, invitation-only event that was created by the U.S. Navy to see the future of naval technology in action today.”

KATFISH-M was tested and certified by independent laboratories on a variety of United States Department of Defense military ruggedization standards known as MIL-STD-810G and MIL-STD-461. The MIL-STD-810G focuses on environmental engineering and requires products to pass a series of laboratory tests to ensure that military equipment can operate in extreme worldwide environments. The MIL-STD-461 standard covers the requirements and test limits for the measurement and determination of the electromagnetic interference characteristics (emission and susceptibility) of electronic, electrical, and electromechanical equipment.

With these certifications in place, KATFISH-M is now an off-the-shelf solution proven suitable for global deployment in military and defense applications, saving prime contractors the time and expense of performing such tests on their own in support of government programs.

KATFISH-M has been tested and certified to pass a variety of military standards including:

  • High Temperature (+71°C)
  • Low Temperature (-35°C)
  • Temperature Shock (-10°C to +60°C)
  • Humidity
  • Salt Fog
  • Immersion
  • Vibration (3 Hz to 100Hz)
  • Shock (up to 10g)
  • EMI/EMC (via MIL-STD-461)

 

David Shea, Kraken’s VP Engineering, said, “Many of the tests that we undertook were expensive to perform and required special testing facilities. After several months and dozens of tests, successfully achieving MIL-STD certification ensures that the KATFISH-M can operate in harsh conditions onboard manned and unmanned marine vehicles virtually anywhere in the world. Certification of our KATFISH-M system underscores Kraken’s commitment to providing product reliability and quality for our customers.”

Dr. Tom Tureaud, Kraken’s VP of Underwater Systems, said, “The KATFISH-M is a natural evolution of Kraken’s KATFISH 180 system. Designed to provide ultra high-resolution seabed imagery with constant resolution to full range, the KATFISH-M towed body is equipped with Kraken’s world-leading Miniature Synthetic Aperture Sonar and a very intelligent control system to ensure hydro-dynamic stability. The additional information provided by KATFISH-M delivers a detection and classification capability that cannot be achieved with conventional sidescan sonar technology. We are currently working on TENTACLE™; an all-electric, low magnetic signature autonomous launch and recovery system for the KATFISH line of products that we plan to introduce later in 2018.”

Pricing and Availability

The commercial version of KATFISH is priced at US$1.5 million, while the military certified version, KATFISH-M, is priced at US$2.5 million. Both systems are available now.

 

About Kraken Robotics Inc.

Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine technology company that is dedicated to the production and sale of software-centric sensors and underwater robotic systems. The company is headquartered in St. John’s, Newfoundland with offices in Dartmouth, Nova Scotia; Bremen, Germany; and Fairfax, Virginia. Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter and a Top 75 Canadian defence company by Canadian Defence Review. For more information, please visit www.krakenrobotics.com, www.krakenrobotik.de, www.krakenpower.de. Find us on social media on Twitter (@krakenrobotics), Facebook (@krakenroboticsinc) and LinkedIn.

Certain information in this news release constitutes forward-looking statements. When used in this news release, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “seek”, “propose”, “estimate”, “expect”, and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company’s current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company’s public disclosure documents. Many factors could cause the Company’s actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release.

 

For further information, please contact:

 

Sean Peasgood, Investor Relations

(647) 955-1274

sean@sophiccapital.com

 

Greg Reid, Chief Financial Officer

(416) 818-9822

greid@krakenrobotics.com

 

Glenda Leyte, Marketing Manager

(709) 757-5757 extension 288

gleyte@krakenrobotics.com

 

 

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