Exciting News from Kraken Robotics
Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF) has received some thrilling news regarding its SeaPower™ pressure tolerant batteries. Recently, the company announced that it secured new orders worth a staggering $11 million for these innovative batteries designed for uncrewed underwater vehicles (UUVs). This brings the total value of new battery orders for the year to an impressive $45 million, largely fueled by demand from the defense sector.
The Innovation Behind SeaPower Batteries
What makes Kraken’s SeaPower batteries so remarkable? Unlike traditional batteries, these do not require a pressure housing or any oil compensation to survive the immense pressures of deep ocean environments. Their unique construction features a proprietary silicon polymer matrix that resists compression and can withstand pressures of up to 660 Bar, equivalent to depths of 6000 meters. This capability allows UUVs equipped with SeaPower batteries to embark on longer and more intricate missions while ensuring reliable power.
Significant Growth in the Subsea Power Market
Kraken Robotics is poised for significant growth within its subsea power business. Recently, the company has announced plans to establish a new battery production facility that will significantly boost its manufacturing capacity, with the potential to triple production to keep up with the rising demand in the defense industry. Additionally, the company is hard at work developing new battery form factors meant to power small and medium-sized UUVs, which are set to be launched later in 2025.
About Kraken Robotics
Founded with the goal of transforming subsea intelligence, Kraken Robotics Inc. is at the forefront of innovation in the marine technology sector. The company specializes in advanced 3D imaging sensors, robotic systems, and high-performance power solutions. Its products are crafted to help overcome the challenges faced in ocean exploration and infrastructure maintenance—safely and sustainably.
Kraken’s range of technologies includes synthetic aperture sonar, sub-bottom imaging, and LiDAR systems that deliver exceptional resolution and critical insights necessary for assessing ocean safety, infrastructure, and geological conditions. Notably, their cutting-edge pressure tolerant batteries are critical for powering UUVs and provide vital subsea energy storage.
Global Impact and Presence
With its headquarters in Canada and operations extending across North America, South America, and Europe, Kraken Robotics serves clients in over 30 countries worldwide. This extensive reach allows the company to cater to diverse underwater needs while driving innovation in subsea robotics and power technologies.
Contact Information
For further inquiries or additional information, you're welcome to contact:
Erica Hasenfus
Director of Marketing
erica.hasenfus@krakenrobotics.com
Joe MacKay
Chief Financial Officer
(416) 303-0605
jmackay@krakenrobotics.com
Greg Reid
President & CEO
(416) 818-9822
greid@krakenrobotics.com
Sean Peasgood
Investor Relations
(647) 955-1274
sean@sophiccapital.com
Frequently Asked Questions
What are the SeaPower batteries used for?
The SeaPower batteries are designed to provide reliable power for uncrewed underwater vehicles (UUVs), particularly in deep ocean environments.
What recent orders did Kraken Robotics receive?
Kraken Robotics recently secured $11 million in new orders for its SeaPower batteries, bringing the total new orders for the year to $45 million.
How does Kraken Robotics plan to expand its operations?
The company plans to open a new battery facility to significantly increase production capacity, aiming to meet rising industry demands.
Where is Kraken Robotics headquartered?
Kraken Robotics is headquartered in Canada, with operations extending to North America, South America, and Europe.
What innovations does Kraken Robotics focus on?
Kraken Robotics focuses on innovations including 3D imaging sensors, power solutions, and robotic systems for efficient and sustainable subsea operations.
