Kraken Robotics Inc (KRKNF)

[The_Gman]

ST. JOHN’S, NEWFOUNDLAND – 02 APRIL 2018 /GLOBE NEWSWIRE/ – 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 formally notified by the Government of Canada that its application to the Build in Canada Innovation Program (BCIP) has been approved. The Company has been pre-qualified into the program for its ThunderFish® 300 Autonomous Underwater Vehicle (AUV) for military and scientific applications.

Karl Kenny, Kraken’s President and CEO said, “We are proud to have achieved pre-qualification status with the BCIP. This is yet another significant milestone in Kraken’s evolution to becoming a vertically integrated underwater robotics company.”

About The Build in Canada Innovation Program

The Build in Canada Innovation Program (BCIP) helps Canadian companies of all sizes move their state-of-the-art goods and services from the laboratory to the marketplace. Through the BCIP, companies can sell their pre-qualified innovations to the federal government as their first reference sale. After testing a company’s innovation, federal departments provide feedback on the innovation’s performance in an operational setting. The program pays up to C$500,000 for non-military innovations and up to C$1,000,000 for military innovations. For more information, please visit: http://www.tpsgc-pwgsc.gc.ca/app-acq/picc-bcip/ppicc-abcip-eng.html#s1


http://krakenrobotics.com/kraken-announces-pre-qualification-thunderfish-canadas-bcip-program/