Kraken Robotics Secures $2.1 Million KATFISH Contract

Kraken Robotics Inc. reported that its subsidiary, Kraken Robotic Systems Inc., has received a $2.1 million purchase order for a KATFISH™180 system from Thayer-Mahan Inc. Thayer-Mahan specializes in autonomous maritime systems and will deploy Kraken's technology for seabed mapping and intelligence as part of its SeaScout® expeditionary system.

The delivery of the system is scheduled for the third quarter of 2019. Admiral (retired) Mike Connor, President and CEO of Thayer-Mahan, stated that the KATFISH system's capabilities will fundamentally change the maritime survey industry by providing enhanced search rates, resolution, and real-time processing.

This order marks the first commercial engagement resulting from a strategic alliance formed between Kraken and Thayer-Mahan in February 2018. The partnership aims to deliver next-generation underwater sensors and robotics for various security and survey applications. Both companies previously participated in a U.S. Navy technology exercise in 2018.

Kraken President and CEO Karl Kenny highlighted that the KATFISH™ system offers a faster, ultra-high-resolution solution for the global seafloor mapping market, estimated at over $3 billion annually. The system allows surveyors to increase data quantity, improve quality, and reduce acquisition costs in real time.