Kraken Awarded $0.5 Million SeaVision® Contract from Government of Canada


Kraken Robotics Inc. (TSX-V: PNG) (OTCQB: KRKNF) (“Kraken” or the “Company”), is pleased to announce that its wholly owned subsidiary, Kraken Robotic Systems Inc., has been awarded a contract valued at $524,720 with the Government of Canada for Kraken’s SeaVision® 3D laser scanner. SeaVision® was initially pre-qualified under the Canadian government’s Build in Canada Innovation Program (BCIP). Effective April 1, 2019, BCIP became the Innovative Solutions Canada –Testing Stream (ISC-TS), delivered by Innovation, Science & Economic Development’s Innovation Canada Sector. Kraken expects to deliver SeaVision® to its test partner, Parks Canada – Underwater Archaeology Team (UAT) during Q3 2020. Parks Canada and Kraken plan to conduct at-sea testing and evaluation of the SeaVision® system at a variety of archaeologically significant sites including the HMS Erebus and HMS Terror at the National Historic Site of Canada, Nunavut. Kraken was previously involved in Parks Canada’s discovery of the HMS Erebus during the Franklin Expedition in Summer 2014.

About SeaVision®
SeaVision® is an underwater 3D laser imaging system designed to be fitted to remotely operated and autonomous underwater vehicles. The system delivers real-time, full colour 3D point cloud images of subsea infrastructure with millimetre accuracy. These datasets create highly detailed models for 3D visualization to support complex machine learning and artificial intelligence algorithms used for analytics. SeaVision® simplifies creating dynamic digital models of subsea physical assets and systems. This helps build and operate digital twin applications to gain knowledge and insights about performance of future operations.

Karl Kenny, Kraken President & CEO said, “In subsea inspection applications such as offshore wind, subsea oil and gas and underwater archaeology, we believe that a self-contained, motion-corrected 3D laser scanner on a small powerful ROV offers a significant competitive advantage to what currently is available on the market. It is also a significant quality improvement to purely optical inspection. Existing underwater laser products require a combination of a high-grade navigation payload for motion correction and require a larger stable ROV. Other market solutions for subsea 3D asset reconstruction are based on photogrammetry and inherently have less precision and range than Kraken’s SeaVision® 3D laser system. We are confident that SeaVision® offers a superior price and performance value proposition.”

About Parks Canada Underwater Archaeology Team (UAT)
Parks Canada’s Underwater Archaeology Team (UAT) conducts comprehensive scientific diving and remote-sensing surveys to identify, inventory, evaluate, and interpret submerged cultural resources within the Parks Canada mandate. This includes an expanding system of National Historic Sites, National Parks, National Park Reserves, National Marine Conservation Areas, National Marine Parks, and Heritage Rivers. The UAT is also a recognized Federal Authority for the evaluation of submerged cultural resources under the provisions of the Canadian Environmental Assessment Act. As such, the UAT is called upon to conduct archaeological site investigations throughout Canada in both marine and fresh-water environments (including the Pacific, Atlantic, and Arctic Oceans, as well as the Great Lakes).

Location: St John's, NL, Canada

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