Canada's Ocean Supercluster Funds Kraken's $20M OceanVision Project
Canada's Ocean Supercluster has conditionally approved Kraken Robotics' OceanVision project. The initiative aims to develop new marine technologies for robotic subsea data acquisition and analytics.
ST. JOHN'S, NEWFOUNDLAND – Kraken Robotics Inc. has received conditional approval from Canada's Ocean Supercluster for its OceanVision™ project. This three-year, $20 million initiative focuses on developing new marine technologies and products to enable a subsea robotics data acquisition and analytics service.
The Ocean Supercluster's contribution to the project is capped at $5.9 million, pending finalization of additional funding from industry stakeholders, strategic partners, and government agencies. Kraken Robotics believes the project's scope may expand as more partners and technologies are incorporated.
The OceanVision™ project intends to provide a turnkey service for ultra-high definition seafloor imaging, mapping, and analytics. It will also simultaneously acquire ocean environmental and marine habitat data. Kraken's President & CEO, Karl Kenny, highlighted that this model allows clients to lease robotic devices rather than purchasing expensive data acquisition hardware.
This approach is expected to accelerate innovation and disrupt outdated business models within the ocean technology sector. Kraken aims to finalize contracting with all project participants by the end of the third quarter of 2019.