Kraken Awarded Seabed Survey Contract in Australia

ST. JOHN'S, Newfoundland and Labrador, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF) is pleased to provide more detail on a recent contract announcement. Kraken will supply high-resolution seabed mapping sonar service to Precision Hydrographic Services (PHS), a customer supporting the Australian Department of Defence. The Australian Department of Defence has awarded PHS a program to collect Hydrographic High Resolution Route Surveys (RS) for a number of Australian ports. The purpose of the RS is to enable the collection of Maritime Geospatial Information (MGI) to support maritime domain awareness through the acquisition of high-resolution seabed foundation data and associated oceanographic data.

Under the scope of Kraken's contract, a KATFISHtm high-speed survey/detection solution will be used to acquire high-resolution route surveys of Australian ports. The survey campaign will take place between January and May 2024. This contract follows the results of a successful in-country demonstration of KATFISHtm for the customer in Q1 of this year and the purchase of a KATFISH system by the RAN in Q2.

Figure 1: Kraken KATFISH - High Speed Towed SAS and ALARS aboard survey vessel

ABOUT KATFISH
The KATFISH is a high-speed seabed survey system providing ultra-high resolution seabed imagery and bathymetry for defense and commercial customers. The acoustic imagery and bathymetry collected by KATFISH systems provides customers with actionable intelligence about subsea assets and infrastructure such as subsea pipelines and fiber optic cables, as well as important hydrographic information about the safety of key transit routes for ocean going assets. Kraken has integrated KATFISH to a variety of manned and unmanned vessels of opportunity, providing both standalone turnkey seabed mapping as well as optional integration to a customer's combat mission management systems.

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.

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For further information:

Jack North, Marketing
[email protected]

Joe MacKay, Chief Financial Officer
(416) 303-0605
[email protected]

Greg Reid, President & CEO
(416) 818-9822
[email protected]

Sean Peasgood, Investor Relations
(647) 955-1274
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b73bb138-2daa-4884-aabd-42823de7a265