ST. JOHN’S, NEWFOUNDLAND, March 7, 2023 /GLOBE NEWSWIRE/ — Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), is pleased to announce that Kraken Robotics is to support subsea solutions provider N-Sea with cable burial survey services during cable inspection and remedial burial campaign for a major interconnecting power cable asset in the North Sea. While contract values cannot be disclosed, Kraken has secured more than $1.4 million to date in Q1, 2023 in depth of burial and boulder detection project surveys.
Commencing in March 2023 and expected to continue for 20 days, Kraken Robotics has mobilised its 3D acoustic Sub-Bottom Imager (SBI) survey sensor to a vessel under the control of N-Sea, to support cable burial surveys along a series of HVDC interconnector cables. During the works, the SBI will initially be used to locate the cables and confirm depth of burial before any remedial mass flow excavation works are carried out to ensure the cables are buried to a suitable depth. A secondary SBI pass will then ensure burial depth before the vessel moves onto the next section of cable.
As an acoustic system, Kraken’s SBI provides N-Sea with market-leading burial accuracy and allows the cables to remain energized throughout the operations, enabling power flow to continue without disruption. Having amassed more than 11,500 km of cable surveys to date, the SBI is a well-proven sensor which provides confidence to cable owners that their assets are protected from other sea users, and produces the most accurate cable baseline available, against which, all subsequent surveys can be monitored, and any changes quantified. See link for more details on Kraken’s SBI.
Moya Cahill, Executive VP Services at Kraken, commented, “This project with N-Sea is one of several new, exciting and challenging sub-seabed services projects already secured by Kraken Robotics in Q1, a period that is traditionally slow for survey. Our leading SBI technology and expertise will support our clients in their critical cable depth of burial and boulder detection surveys.”
According to N-Sea, “N-Sea is very pleased with this contract from a large power operator for maintaining their interconnector cable, which confirms N-Sea’s position as leading subsea solutions provider in the field of IRM. Based on the specific requirements of this project, N-Sea has developed a tailormade solution combining in-house capabilities and assets with specialist services from reputable partners like Kraken Robotics.”
ABOUT KRAKEN ROBOTICS INC.
Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine technology company providing complex subsea sensors, batteries, and robotic systems. Our high-resolution 3D acoustic imaging solutions and services enable clients to overcome the challenges in our oceans – safely, efficiently, and sustainably. Kraken Robotics is headquartered in Canada and has offices in North and South America and Europe. Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter.
N-Sea is an integrated total subsea solutions provider in Survey, IRM & Construction, Subsea Cable Repair & Installation, and UXO ID & Disposal. N-Sea delivers effective and cost-efficient solutions for subsea infrastructures and assets that meet the needs of the international oil, gas- and renewable industries. They meet their clients by providing effective and cost-efficient solutions for subsea assets and infrastructure, considering a safe environment. www.n-sea.com
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For further information:
Stephen Griffin, Group Marketing Manager
Joe MacKay, Chief Financial Officer
Greg Reid, President & CEO
Sean Peasgood, Investor Relations