Kraken Robotics Inc (KRKNF)

[spec machine]

https://krakenrobotics.com/kraken-announces-1-million-of-defense-contracts/


Kraken Announces $1 Million of Defense Contracts
July 8, 2020
ST. JOHN’S, NEWFOUNDLAND, July 8, 2020 /GLOBE NEWSWIRE/ — Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean Company, is pleased to announce that it has recently received three defense customer orders totaling approximately $1 million:

A follow-on order for MINSAS 60 LW sensors for man-portable vehicles. This solution was developed with the support of funding from the U.S Navy and Foreign Comparative Test Program. Delivery of this order is scheduled for Q4, 2020. The initial order shipped at the end of Q2.
Sale of a SeaVision™ laser scanner to a large US defense contractor. Delivery occurred in Q2.
A first purchase order issued to our Acoustic Signal Processing Group (APSG) under an 8-year framework agreement announced in Q1 with a leading international defense contractor. Kraken will provide development, maintenance and training to the customer to enhance and modernize their sonar product.


Karl Kenny, Kraken President and CEO said, “We continue to make inroads with US and international navies and defense contractors. We are especially excited to deliver our first MINSAS 60 LW sensor as a reasonably priced, high performance sonar upgrade path for existing man-portable AUVs as well as new builds.”

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