Kraken Robotics Announces Major $28 Million Order Milestone
ST. JOHN'S, Newfoundland and Labrador – Kraken Robotics Inc., a leader in subsea intelligence and robotic systems, has revealed significant new business developments with approximately $28 million in fresh orders. The contracts span five clients, including two new customers, and focus on the company's innovative SeaPower™ batteries and advanced Synthetic Aperture Sonar (SAS) technology.
Expanding Global Reach in Underwater Technology
Greg Reid, President and CEO of Kraken Robotics, highlighted the strategic importance of these orders. "These orders include battery contracts from three large international defence companies and a SAS order from a new commercial uncrewed underwater vehicle (UUV) manufacturer," Reid stated. "Our products are now integrated or being integrated into more than 30 different UUV platform types worldwide."
This announcement underscores Kraken's growing influence in the global underwater technology market, particularly in defense and commercial applications. The company's SeaPower batteries are renowned for their high energy density and pressure tolerance, making them ideal for powering UUVs and other subsea energy storage needs. Meanwhile, the SAS systems provide unparalleled resolution for imaging underwater environments, critical for ocean safety, infrastructure inspection, and geological surveys.
Strategic Growth and Recent Acquisition
Kraken Robotics continues to expand its capabilities through strategic initiatives. On March 3, 2026, the company announced the acquisition of Covelya Group Limited, a prominent international provider of mission-critical underwater technology solutions. This acquisition includes subsidiaries such as Sonardyne International Ltd., EIVA A/S, and Voyis Imaging Inc., among others. The deal is expected to close in the second quarter of 2026, pending customary conditions and regulatory approvals.
The acquisition positions Kraken to enhance its product offerings and strengthen its market presence across North America, South America, and Europe. With offices in multiple regions and clients in over 30 countries, Kraken is poised to drive innovation in subsea intelligence, leveraging technologies like 3D imaging sensors, LiDAR systems, and sub-bottom imaging.
Forward-Looking Statements and Market Impact
In its news release, Kraken included forward-looking statements regarding business objectives, expected growth, and financial results. These statements involve risks and uncertainties, such as changes in market conditions, competition, and regulatory developments. However, the $28 million in new orders signals strong demand for Kraken's solutions, reflecting the company's commitment to transforming ocean exploration and sustainability.
As the underwater technology sector evolves, Kraken Robotics remains at the forefront, delivering tools that enable safer, more efficient, and sustainable ocean operations. With these latest orders, the company reinforces its role as a key player in advancing subsea capabilities worldwide.
