Kraken Awarded $0.5M Contract for SeaVision Sensors

ST. JOHN’S, Newfoundland, Aug. 12, 2019  — Kraken Robotics Inc. (TSX-V: PNG) (OTCQB: KRKNF) (“Kraken” or the “Company”) is pleased to announce that, its wholly owned German subsidiary, Kraken Robotik GmbH, has been awarded a contract to deliver 3,000 meter rated SeaVision® laser scanning sensors to the GEOMAR Helmholtz Centre for Ocean Research in Kiel, Germany. GEOMAR is a leading global institute for marine research with approximately 1,000 employees.

Contract Details
The contract value is approximately $0.5 million with delivery expected during Q1, 2020. Under this contract, Kraken will deliver a twin pod SeaVision® 3D laser scanner as well as three SeaVision® profilers (each consisting of a Kraken SmartCam™ and separate laser). The sensor suite will be flexibly deployed on a variety of GEOMAR infrastructure to enable quantitative seafloor surveys.

Kraken CEO Comments
Karl Kenny, Kraken’s President & CEO, said, “Kraken continues to gain market traction with its new SeaVision® 3D laser scanner. We look forward to providing this 3,000 meter rated solution to GEOMAR, building off of recent success in trials with NOAA and a contract award with Husky Energy. SeaVision® will also be a key technology component in our OceanVision project under the Ocean Supercluster. As an asset inspection tool, it offers significant potential to reduce overall operational risk and costs to a variety of industry stakeholders, including oil and gas, offshore wind, ocean exploration, or the military.”

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 & Rostock, Germany; and Boston, Massachusetts. Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter. For more info, please visit www.krakenrobotics.com, www.krakenrobotik.de, www.krakenpower.de. Find us on social media on Twitter (@krakenrobotics), Facebook (@krakenroboticsinc) and LinkedIn.