Kraken Sonar Inc. (PNG.V) is a marine technology company, The company is known for its imaging technology, Synthetic Aperture Sonar (SAS), that provides ultra-high resolution at long ranges.
SAS's image quality has been reported to be 10 times better than the traditional sonar - it is highly sought, especially for underwater drones.
Kraken has four main products: a) AquaPix® which focuses on detailed seabed images, b) INSIGHT - SAS Image Processing Software, c) DataPod™ - Removable Data Storage Module, and d) KATFISH - Intelligent Towed SAS System (Drone).
Kraken went public in 2015 and has been busy ever since with acquisitions (Marine Robotics Technology) and partnerships (Square Robots, Fraunhofer).
The addressable market is more than $6 Billion in defence (40%) and commercial (60%) applications. The commercial applications include: Offshore Oil & Gas, Offshore Wind, Tidal and Wave Farms, Search and Rescue, and Cable and Pipeline hydrography. The company's clients include, Israeli and European Defense Contractors, the Woods Hole Oceanographic Institution (WHOI), and the Government of Canada among others.
Kraken just recently completed some sea trials on its latest product KATFISH (Phase 1) and has been awarded an NRC Industrial grant. The company has recently reached profitability and has offices in both Canada and Germany. For more details about Kraken, have a look at the Investor Presentation.
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