August 21, 2018

ST. JOHN’S, NEWFOUNDLAND, August 21, 2018 /GLOBE NEWSWIRE/ — Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF) is pleased to announce that its wholly owned subsidiary, Kraken Robotic Systems Inc., has signed a Cooperative Research and Development Agreement (CRADA) with the Office of Ocean Exploration and Research (OER) of the National Oceanic and Atmospheric Administration (NOAA). The data and information OER collect can be used to enhance ocean research, inform policy and management decisions, develop new lines of scientific inquiry, and advise NOAA and the United States on critical issues.

The CRADA signed between Kraken and NOAA’s Office of Ocean Exploration Research, defines a joint research and development partnership. This partnership explores the application of Kraken’s underwater sensor and robotic technologies and systems to NOAA’s ocean observation charter in potentially more effective (less expensive, better results, more environmentally friendly) ways.   This collaboration is directly responsive to NOAA’s Office of Ocean Exploration and Research mission of reducing unknowns in deep-ocean areas and providing high-value environmental intelligence.

This CRADA has 3 primary objectives:

  • Testing of Kraken’s AquaPix® Synthetic Aperture Sonar (SAS) system aboard an Autonomous Underwater Vehicle (AUV) and/or towed system (KATFISH) on a NOAA vessel. This test would involve the integration and in-situ test of this technology aboard a NOAA vessel. This test will provide both parties with experience at sea while collecting data for further analysis, with NOAA providing sea time and Kraken will provide mapping sensor equipment. Mapping data will be shared by both Kraken and NOAA for analysis.

 

  • Testing of Kraken’s SeaVision® laser scanner integrated aboard NOAA ROV systems and/or a Kraken ROV. Testing this technology in the field will give both Kraken and NOAA the opportunity to evaluate this new technology in the field at depths as great as 6000m and advance underwater scanning technologies. NOAA will provide sea time and Kraken will provide mapping sensor and equipment.  3D scanning data will be shared by both Kraken and NOAA for analysis.

 

  • Testing of other Kraken mapping systems, sensors, batteries and robotic systems at sea, and transferring of data in real time from NOAA vessels to land based monitoring and command stations which will further benefit ocean exploration and the development of technologies.

 

CEO Comments

“We are excited to enter into our first CRADA with NOAA,” said Karl Kenny, Kraken’s President and CEO. “The Office of Ocean Exploration and Research is a fast moving and forward-thinking division of NOAA, always eager to identify and adopt the latest marine technology available to increase the efficiency and capability of their missions.  We are highly impressed with the telepresence capability aboard the NOAA Ship Okeanos Explorer and OER’s goal to provide real-time data from their expeditions to the scientific community.   We feel this will be a truly symbiotic relationship between NOAA OER and Kraken by combining their real-time, global data transfer capabilities with our real-time processing incorporated to all of our sensors, allowing for high-resolution laser and sonar data to travel from the seafloor to researchers around the world at an unprecedented rate.”

 

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; Toronto, Ontario; Bremen, Germany; and Fairfax, Virginia. Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter. 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.

 

ABOUT NOAA

The National Oceanic and Atmospheric Administration (NOAA) is an American scientific agency within the United States Department of Commerce. NOAA’s mission is to understand and predict changes in the Earth’s environment, from the depths of the ocean to the surface of the sun, and to conserve and manage our coastal and marine resources. NOAA focuses on the conditions of the oceans, major waterways, and the atmosphere.  NOAA warns of dangerous weather, charts seas, guides the use and protection of ocean and coastal resources, and conducts research to provide understanding and improve stewardship of the environment. As of 2017, NOAA had over 11,000 civilian employees. For more information, please visit www.noaa.gov.

 

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:

Greg Reid, Chief Financial Officer

(416) 818-9822

greid@krakenrobotics.com

 

Sean Peasgood, Investor Relations

(647) 955-1274

sean@sophiccapital.com

 

Glenda Leyte, Marketing Manager

(709) 757-5757 extension 288

gleyte@krakenrobotics.com

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