ST. JOHN’S, Newfoundland, June 07, 2021 (GLOBE NEWSWIRE) — Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean Firm™, is happy to announce that it has signed a cooperation settlement with SH Protection (SHD) of Denmark overlaying the design and sale of containerized mine countermeasure and different subsea surveillance sensor and robotic options.
SHD is a global firm growing, producing and servicing hydraulic, electrical and mechanical system options, together with containerized multi-mission module programs for the worldwide naval business. SHD manufactures The Dice™, a subsequent technology evolution of StanFlex containers.
The advantages of such containerized modules are quite a few and embody:
- Unused modules could be saved in managed circumstances, lowering the necessity for preventative upkeep,
- Ships don’t have to be taken out of service when tools requires upkeep,
- New programs could be put in on vessels by becoming them to a module, as a substitute of refitting the whole ship,
- When a ship is faraway from service, the modules could be reused by different vessels, and
- The multi-role ships could be rapidly re-equipped for different roles.
Karl Kenny, Kraken President and CEO stated, “Kraken could be very happy to co-operate with SHD for containerized subsea surveillance payloads for the naval and business marine business. These modular payloads will embody Kraken surveillance programs and SH container modules. SH Protection will globally promote and promote containerized subsea surveillance options with quite a lot of Kraken’s surveillance options. In Canada, Kraken, supported by SHD, will promote, promote, ship, set up and repair SHD hydraulic, electrical and mechanical system modular containerized options to the Royal Canadian Navy, Canadian Coast Guard and business business.”
Right now’s international naval working atmosphere requires navies to extend not solely their vary into new working theaters just like the Arctic, but additionally to increase their platform capabilities and to function extra autonomous and remotely piloted programs to offer enhanced maritime area consciousness and operational capabilities. Ship builders are designing on this flexibility and interoperability by together with versatile lodging for containerized mission programs and an Offshore Patrol Vessel (OPV) is an instance of this.
An OPV is a floor ship designed for coastal operations, together with each defence (i.e. naval mine countermeasures) and constabulary roles. By utilizing containerized resolution modules that may be quickly exchanged, these warships can deploy with mission agility and rapidly convert to deal with a variety of different roles resembling maritime safety, border management, anti-smuggling, counter-terrorism, catastrophe aid and extra.
OPVs are the quickest rising phase of nation-owned fleets and worldwide demand for OPVs has proliferated lately. OPVs permit governments to share platforms throughout authorities companies as seen in Canada with the AOPS design being shared between the Royal Canadian Navy and the Canadian Coast Guard. Tensions from the Mediterranean Sea to the South China Sea, coupled with the a number of low-cost capabilities supplied by OPVs, are key components behind their growing success. For waters within the Center East, OPVs are seen as one of many principal options to rising piracy considerations and efforts to guard financial pursuits.
Market analysts, Market Watch , estimate that in 2020 the worldwide Offshore Patrol Vessels market was valued at over US$24 billion and is anticipated to achieve over US$44 billion by the tip of 2026, rising at a CAGR of 8.7% through the interval.
The marketplace for OPVs is buoyant as international locations search to modernize, improve and substitute platforms to maintain tempo with know-how change and the evolving menace spectrum. When coupled with quickly exchangeable containerized payloads, OPV will allow nations to maneuver rapidly and simply between roles and missions. Additional, containerized mission particular payloads can rapidly be shared between different platforms inside a rustic’s current fleet or of an allied nation.
The connection between Kraken Robotics and SH Defence is targeted on the agility required for future maritime operations by bringing collectively two main capabilities and corporations to make this potential: Kraken Robotics and their autonomous mission programs, and SH Defence with their standardized containerization functionality and container dealing with merchandise.
ABOUT KRAKEN ROBOTICS INC.
Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine know-how firm devoted to the manufacturing and sale of software-centric sensors, subsea batteries and thrusters, and underwater robotic programs. The corporate is headquartered in Newfoundland with workplaces in Canada, U.S., Germany, Denmark, and Brazil. Kraken is ranked as a Prime 100 marine know-how firm by Marine Know-how Reporter.
Sure info on this information launch constitutes forward-looking statements. When used on this information launch, the phrases “might”, “would”, “may”, “will”, “intend”, “plan”, “anticipate”, “imagine”, “search”, “suggest”, “estimate”, “count on”, and comparable expressions, as they relate to the Firm, are meant to determine forward-looking statements. Specifically, this information launch incorporates forward-looking statements with respect to, amongst different issues, enterprise targets, anticipated progress, outcomes of operations, efficiency, enterprise initiatives and alternatives and monetary outcomes. These statements contain identified and unknown dangers, uncertainties and different components which will trigger precise outcomes or occasions to vary materially from these anticipated in such forward-looking statements. Such statements mirror the Firm’s present views with respect to future occasions based mostly on sure materials components and assumptions and are topic to sure dangers and uncertainties, together with with out limitation, modifications in market, competitors, governmental or regulatory developments, basic financial circumstances and different components set out within the Firm’s public disclosure paperwork. Many components may trigger the Firm’s precise outcomes, efficiency or achievements to range from these described on this information launch, together with with out limitation these listed above. These components shouldn’t be construed as exhaustive. Ought to a number of of those dangers or uncertainties materialize, or ought to assumptions underlying forward-looking statements show incorrect, precise outcomes might range materially from these described on this information launch and such forward-looking statements included in, or integrated by reference on this information launch, shouldn’t be unduly relied upon. Such statements communicate solely as of the date of this information launch. The Firm doesn’t intend, and doesn’t assume any obligation, to replace these forward-looking statements. The forward-looking statements contained on this information launch are expressly certified by this cautionary assertion.
Neither the TSX Enterprise Alternate Inc. nor its Regulation Companies Present (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this launch, and the OTCQB has neither accepted nor disapproved the contents of this press launch.
For additional info, please contact:
Joe MacKay, Chief Monetary Officer
Greg Reid, Chief Working Officer
Sean Peasgood, Investor Relations