Kraken Robotics Announces $24 Million in Defence Orders

Rhea-AI Summary

Kraken Robotics (OTCQB: KRKNF) announced approximately $24 million in new defence orders on March 17, 2026, from over 10 customers across five countries, including three new defence customers.

Orders cover SeaPower batteries, KATFISH towed SAS and Kraken SAS. Manufacturing in Nova Scotia is coming online next month, expanding battery production capacity.

Positive

• $24 million in new orders from defence customers
• Orders span 10+ customers across five countries
• Three new defence customers added
• Nova Scotia battery manufacturing facility coming online next month
• Sale of KATFISH to the Polish Navy for minehunting program

Negative

• None.

News Market Reaction – KRKNF

+4.99%

1 alert

+4.99% News Effect

On the day this news was published, KRKNF gained 4.99%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

ST. JOHN’S, Newfoundland and Labrador, March 17, 2026 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (“Kraken” or the “Company”) (TSX-V: PNG, OTCQB: KRKNF) announces approximately $24 million in new orders to over 10 customers across five countries, including three new defence customers. The orders are for Kraken’s SeaPower batteries, KATFISH towed synthetic aperture sonar (SAS), and Kraken SAS.

“SeaPower battery sales continue to be strong, with several new clients further diversifying our customer base in this area of the business. Manufacturing of our batteries in our new Nova Scotia facility is coming online in the next month, significantly expanding our production capacity” said Greg Reid, President and CEO of Kraken Robotics. “We are also pleased to share that we have sold a new KATFISH to the Polish Navy for their minehunting program and SAS to multiple defence customers for their autonomous underwater vehicle (AUV) platforms.”

The Polish Navy first selected KATFISH in 2020 for deployment on its Kormoran II-class minehunting vessels to support mine countermeasure operations in complex shallow water environments. This latest order was placed through Thesta, Kraken’s partner in Poland, which was appointed an authorized reseller of KATFISH during last week’s Oceanology International exhibition.

Figure 1: Kraken Robotics Announces $24 Million in Defence Orders

ABOUT KRAKEN ROBOTICS INC.
Kraken Robotics Inc. is transforming subsea intelligence through 3D imaging sensors, power solutions, and robotic systems. Our products and services enable clients to overcome the challenges in our oceans – safely, efficiently, and sustainably.

Kraken’s synthetic aperture sonar, sub-bottom imaging, and LiDAR systems offer best-in-class resolution, providing critical insights into ocean safety, infrastructure, and geology. Our revolutionary pressure tolerant batteries deliver high energy density power for UUVs and subsea energy storage.

Kraken Robotics is headquartered in Canada with offices in North America, South America, and Europe, supporting clients in more than 30 countries worldwide.

On March 3, 2026, Kraken announced the acquisition of Covelya Group Limited (the “Acquisition”), a leading international provider of mission-critical underwater technology solutions operating through its subsidiary companies: Sonardyne International Ltd., EIVA A/S, Forcys Ltd., Wavefront Systems Ltd., Voyis Imaging Inc., and Chelsea Technologies Ltd. The Acquisition is expected to close during the second quarter of 2026, subject to the satisfaction of customary conditions and regulatory approvals.

LINKS:
www.krakenrobotics.com

SOCIAL MEDIA:
LinkedIn www.linkedin.com/company/krakenrobotics
Twitter www.twitter.com/krakenrobotics
Facebook www.facebook.com/krakenroboticsinc
YouTube www.youtube.com/channel/UCEMyaMQnneTeIr71HYgrT2A
Instagram www.instagram.com/krakenrobotics

Certain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects 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 such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news 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 forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release.

For further information:

Erica Hasenfus, Director of Global Marketing
erica.hasenfus@krakenrobotics.com

Shant Madian, Director of Capital Markets
shant.madian@krakenrobotics.com

Kraken Robotics Inc.
+1 709-757-5757
investors@krakenrobotics.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a8a5714b-4392-4c7b-ac1d-0af1e092aa7e

FAQ

What did Kraken Robotics (KRKNF) announce on March 17, 2026 about new orders?

They announced approximately $24 million in new defence orders from over 10 customers. According to the company, orders cover SeaPower batteries, KATFISH towed SAS and Kraken SAS across five countries.

How significant are Kraken's (KRKNF) SeaPower battery orders and production plans?

SeaPower battery sales are described as continuing to be strong with new clients. According to the company, manufacturing in a Nova Scotia facility is coming online next month to expand production capacity.

Which defence customer received a KATFISH system from Kraken (KRKNF) in the March 2026 announcement?

Kraken sold a new KATFISH to the Polish Navy for its minehunting program. According to the company, the order was placed through partner Thesta, an authorized reseller in Poland.

How many countries and customers are covered by Kraken's (KRKNF) $24 million order announcement?

The announcement covers orders to over 10 customers across five countries. According to the company, the orders include three new defence customers diversifying its customer base.

What products are included in Kraken Robotics' (KRKNF) defence orders announced March 17, 2026?

The orders include SeaPower batteries, KATFISH towed SAS, and Kraken SAS. According to the company, these items were ordered by defence customers for AUV platforms and minehunting applications.