Kraken’s KATFISH system was recently demonstrated at several international naval exercises. It showed an ideal combination of Kraken’s rapidly deployable high-resolution seabed mapping with a robust launch and recovery solution for deep-sea operations on second-hand vessels.
KATFISH is gaining traction in the defense and commercial markets as a solution offering an incredible value proposition for seabed intelligence. KATFISH is a high-speed, actively stabilized Synthetic Aperture Sonar (SAS) towed fish that operates at speeds of up to 10 knots.
KATFISH’s high-speed capability and consistent resolution dramatically increase area coverage ratios (ACRs) by providing more usable data than traditional sidescan sonars. KATFISH provides consistent range-independent resolutions of 3 cm x 3 cm and area coverage rates (ACR) of up to 4 km2/hour, with swaths of up to 400 meters, including simultaneous 3D bathymetry at full swath. With post-processing, constant resolution imagery of 1.9 cm x 2.1 cm is available.
KATFISH has been successfully integrated and deployed on more than a dozen manned and unmanned vessels ranging in length from 12m to 80m. This included technology demonstrations in
Our KATFISH technology is cited for many defense contractors and navies in a range of defense industry offerings in
Defense market opportunities abound
Kraken is experiencing strong growth in defense market opportunities for KATFISH, driven by several factors, the most dominant being technological obsolescence, amplified by the tense geopolitical climate. On the geopolitical level, the war between
Although not a new threat, the protection of seabed infrastructure is once again in focus following the recent
The underwater explosive ordnance threat is an asymmetric threat where mines and low-cost explosives can damage and destroy critical assets, whether they be underwater pipelines or multi-billion dollar navy ships. dollars. The majority of minehunting vessels in service today are rapidly reaching the end of their life or becoming obsolete. Industry data shows that of the more than 300 minehunting vessels in service in
Commercial market growth driven by offshore wind and oil & gas
As a dual-use technology, KATFISH’s value proposition is also gaining momentum in commercial markets with new customers in the offshore oil and gas, power and offshore wind sectors. Kraken offers the ability to generate ultra-high resolution data at high area coverage rates, resulting in more economical data acquisition costs for customers. In commercial markets, customers seek KATFISH as a turnkey service offering, unlike in the defense market where customers generally prefer to purchase KATFISH and operate it themselves.
Certain information contained in this press release constitutes forward-looking statements. When used in this press release, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “seek ”, “propose”, “estimate”, “expect” and similar expressions, with respect to the Company, are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements regarding, among other things, business objectives, expected growth, results of operations, performance, business plans and opportunities, and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in these forward-looking statements. These statements reflect the Company’s current views with respect to future events based on certain important factors and assumptions and are subject to certain risks and uncertainties, including, without limitation, market changes, competition, governmental or regulatory developments, general economic conditions and other factors in the Company’s public disclosure documents. Many factors could cause the actual results, performance or achievements of the Company to differ from those described in this press release, including, without limitation, those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may differ materially from those described in this press release and from such forward-looking statements included or incorporated by reference in this news. release, should not be unduly invoked. These statements speak only as of the date of this press release. The Company does not intend and undertakes no obligation to update these forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
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