Kraken Robotics Receives $11 Million of SeaPower Battery Orders
ST. JOHN'S, Newfoundland and Labrador, April 10, 2025 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. ('Kraken' or the 'Company') (TSX-V: PNG, OTCQB: KRKNF) announces that it has received new orders totaling $11 million for SeaPower™ pressure tolerant batteries for uncrewed underwater vehicles (UUVs). This brings year-to-date new battery orders to $45 million, driven predominantly by UUVs for the defense industry.
SeaPower batteries are unique in that they do not require a pressure housing or oil compensation to withstand deep ocean pressures. The modular batteries are encased in a proprietary silicon polymer matrix, which resists compression and tolerates pressures up to 660 Bar, the equivalent of 6000 meters ocean depth. SeaPower's high energy density provides safe, reliable power, enabling UUVs to complete longer, more complex missions.
Kraken is well-positioned for continued strong growth in its subsea power business. The company recently announced plans to open a new battery facility in Nova Scotia, which will more than triple production to meet defense industry demand. Kraken is also developing new form factors to power small and medium class UUVs, due to be released in late 2025.Figure 1: Kraken's SeaPower pressure tolerant subsea batteries can withstand pressures up to 6000 meters.
ABOUT KRAKEN ROBOTICS INC.Kraken Robotics Inc. (TSX.V: PNG) (OTCQB: KRKNF) is transforming subsea intelligence through 3D imaging sensors, power solutions, and robotic systems. Our products and services enable clients to overcome the challenges in our oceans – safely, efficiently, and sustainably.
Kraken's synthetic aperture sonar, sub-bottom imaging, and LiDAR systems offer best-in-class resolution, providing critical insights into ocean safety, infrastructure, and geology. Our revolutionary pressure tolerant batteries deliver high energy density power for UUVs and subsea energy storage.
Kraken Robotics is headquartered in Canada with offices in North America, South America, and Europe, supporting clients in more than 30 countries worldwide.
LINKS:www.krakenrobotics.com
SOCIAL MEDIA:LinkedIn www.linkedin.com/company/krakenrobotics Twitter www.twitter.com/krakenrobotics Facebook www.facebook.com/krakenroboticsinc YouTube www.youtube.com/channel/UCEMyaMQnneTeIr71HYgrT2A Instagram www.instagram.com/krakenrobotics
FORWARD-LOOKING STATEMENTSCertain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release.
For further information:
Erica Hasenfus, Director of Marketingerica.hasenfus@krakenrobotics.com
Joe MacKay, Chief Financial Officer(416) 303-0605jmackay@krakenrobotics.com
Greg Reid, President & CEO(416) 818-9822greid@krakenrobotics.com
Sean Peasgood, Investor Relations(647) 955-1274sean@sophiccapital.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/26b25aea-b807-4ddf-a478-d8c415bdcc7bSign in to access your portfolio
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