Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), is pleased to
announce that Kraken Robotics is to support subsea solutions
provider N-Sea with cable burial survey services during cable
inspection and remedial burial campaign for a major interconnecting
power cable asset in the North Sea. While contract values cannot be
disclosed, Kraken has secured more than $1.4 million to date in Q1,
2023 in depth of burial and boulder detection project surveys.
Commencing in March 2023 and expected to
continue for 20 days, Kraken Robotics has mobilised its 3D acoustic
Sub-Bottom Imager (SBI) survey sensor to a vessel under the control
of N-Sea, to support cable burial surveys along a series of HVDC
interconnector cables. During the works, the SBI will initially be
used to locate the cables and confirm depth of burial before any
remedial mass flow excavation works are carried out to ensure the
cables are buried to a suitable depth. A secondary SBI pass will
then ensure burial depth before the vessel moves onto the next
section of cable.
As an acoustic system, Kraken’s SBI provides
N-Sea with market-leading burial accuracy and allows the cables to
remain energized throughout the operations, enabling power flow to
continue without disruption. Having amassed more than 11,500 km of
cable surveys to date, the SBI is a well-proven sensor which
provides confidence to cable owners that their assets are protected
from other sea users, and produces the most accurate cable baseline
available, against which, all subsequent surveys can be monitored,
and any changes quantified. See link for more details on Kraken’s
SBI.
Moya Cahill, Executive VP Services at Kraken,
commented, “This project with N-Sea is one of several new, exciting
and challenging sub-seabed services projects already secured by
Kraken Robotics in Q1, a period that is traditionally slow for
survey. Our leading SBI technology and expertise will support our
clients in their critical cable depth of burial and boulder
detection surveys.”
According to N-Sea, “N-Sea is very pleased with
this contract from a large power operator for maintaining their
interconnector cable, which confirms N-Sea’s position as leading
subsea solutions provider in the field of IRM. Based on the
specific requirements of this project, N-Sea has developed a
tailormade solution combining in-house capabilities and assets with
specialist services from reputable partners like Kraken
Robotics.”
ABOUT KRAKEN ROBOTICS
INC.Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a
marine technology company providing complex subsea sensors,
batteries, and robotic systems. Our high-resolution 3D acoustic
imaging solutions and services enable clients to overcome the
challenges in our oceans - safely, efficiently, and sustainably.
Kraken Robotics is headquartered in Canada and has offices in North
and South America and Europe. Kraken is ranked as a Top 100 marine
technology company by Marine Technology Reporter.
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
ABOUT N-SEA:N-Sea is an
integrated total subsea solutions provider in Survey, IRM &
Construction, Subsea Cable Repair & Installation, and UXO ID
& Disposal. N-Sea delivers effective and cost-efficient
solutions for subsea infrastructures and assets that meet the needs
of the international oil, gas- and renewable industries. They meet
their clients by providing effective and cost-efficient solutions
for subsea assets and infrastructure, considering a safe
environment. www.n-sea.com
Certain 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,
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to, among other things, business objectives, expected growth,
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based on certain material factors and assumptions and are subject
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materially from those described in this news release and such
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Such statements speak only as of the date of this news release. The
Company does not intend, and does not assume any obligation, to
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For further information:
Stephen Griffin, Group Marketing
ManagerStephen.Griffin@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
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