April 24, 2018

ST. JOHN’S, NEWFOUNDLAND– 24 APRIL 2018 /GLOBE NEWSWIRE/ – Kraken Robotics Inc. (TSX-V: PNG) (OTCQB: KRKNF), is pleased to announce that Dr. Jeremy Dillon has joined Kraken’s wholly owned subsidiary, Kraken Robotic Systems Inc. as Chief Scientist.

“It gives me great pleasure to welcome Jeremy back to the Kraken team”, said Karl Kenny, President and CEO of Kraken.  “His scientific and technical achievements speak for themselves, and I have great confidence that he will further strengthen our ability to lead the market in advanced acoustic sensors and underwater robotics.”

Dr. Dillon has 20 years of experience in research and development with a strong background in signal processing and mathematics.  As an original member of Kraken’s Synthetic Aperture Sonar (SAS) team, he developed the signal processing algorithms for the AquaPix® SAS imaging and bathymetry software.  He also invented Kraken’s AquaTrak® Correlation Velocity Log, participated in numerous sea trials and was the principal investigator for a multi-year DRDC funded project on repeat-pass interferometry.

Previously Dr. Dillon was a control systems engineer at Honeywell Aerospace, a flight test instrumentation engineer at Canada’s National Research Council (NRC) Flight Research Laboratory and a research officer in guidance, navigation and control at NRC.  He developed the inertial/GPS navigation system and Kalman filtering software used in all NRC research aircraft.  His more recent contributions at NRC have been in the areas of automatic aircraft collision avoidance, flight control laws for unstable aircraft and modeling stall dynamics using autoregressive neural networks.

Dr. Dillon completed his PhD in Physics and Physical Oceanography at Memorial University of Newfoundland.  He also holds a MSc in Mathematics from Carleton University, a MSc in Aeronautics from Caltech, and a BEng in Aerospace Engineering from Carleton University where he graduated at the top of the class and won the University Medal in Engineering.  His doctoral research developed new probabilistic techniques for velocity estimation using a high resolution multi-frequency Doppler current profiler that is used for measuring turbulence and sediment transport in the ocean bottom boundary layer.

Dr. Dillon continues to have strong interests in acoustics, synthetic aperture imaging, GPU-accelerated computing, underwater navigation and vehicle control systems.  His upcoming work will apply machine learning to further improve seabed imagery and to automatically recognize targets and other objects of interest on the seabed.

 

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. 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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