Kraken Robotics secures $2.2M in new projects and funding

Canadian marine technology company Kraken Robotics has secured $2.2 million in new contracts for subsea batteries and synthetic aperture sonar, and funding awards for new projects.

Kraken has received new orders totalling $0.7 million, and funding awards for $1.5 million, the company informed.

Due to confidentiality reasons, Kraken did not name new customers and partners, revealing only that the first contract award is related to an existing U.S. defense industry customer acquiring additional SeaPower batteries.

This is the customer’s second order of Kraken batteries, with the delivery expected to take place in the first half of 2021, Kraken said.

Also, a defense customer in the Southern Hemisphere has awarded Kraken a contract for an AquaPix MINSAS120 sensor for integration into the customer AUVs.

Due to the modularity and advanced integrated motion sensors of the MINSAS, Kraken is expecting an additional contract for a custom payload section that will allow for easy transfer of the MINSAS system between the customers AUVs from two different AUV manufacturers.

According to Kraken, the delivery is scheduled to take place in 2021.

In addition, Kraken secured $1.5 million of funding awards across two projects, the company said.

Germany’s Federal Research Minister announced in February that the Ocean Technology Center, Rostock, was one of seven clusters that will receive up to a total of €450 million over nine years.

The Ocean Technology Center, Rostock, is expected to receive up to a total of €45 million of this funding, according to Kraken.

As part of the Ocean Technology Center campus in Rostock, Kraken Power said it would start two projects in the fourth quarter of 2021.

These projects cover expanded thruster size and power range, and new subsea battery and subsea charging solutions. The projects will last for 36 months, Kraken said.