Kraken Robotics Announces $35 Million in New Orders and Business Update

Rhea-AI Summary

Kraken Robotics (TSX-V: PNG, OTCQB: KRKNF) reported $35 million in new 2026 product orders across maritime defence, offshore energy and ocean science. According to the company, year-to-date combined product orders for Kraken and recently acquired Covelya total $327 million, underscoring demand for their expanded subsea portfolio.

Management said product solutions, including navigation and positioning, multi-aperture sonar, monitoring systems from Covelya and Kraken’s Synthetic Aperture Sonar, are expected to contribute over 75% of consolidated 2026 revenue. Defence growth highlights include Sentinel intrusion detection sonar, KATFISH mine countermeasure systems, SAS/MAS integration on AUVs, SeaPower subsea batteries and Sonardyne’s SPRINT-Nav and Vigilant FLS.

In offshore energy, the company detailed Sonardyne’s On Demand Ocean Bottom Nodes, now in commercial qualification offshore Brazil and targeted for full production in 2027, and a 2026 environmental baseline monitoring project for the Northern Endurance Partnership’s U.K. offshore carbon capture and storage site.

Positive

• $35 million in new 2026 product orders across key end markets
• Year-to-date combined product orders reach $327 million for Kraken and Covelya
• Product portfolio expected to represent over 75% of 2026 consolidated revenue
• Growing defence demand for SeaPower subsea batteries and SAS/MAS across more than 30 AUV platforms
• Commercial qualification of OD OBNs started in early 2026 at Petrobras’ Mero field
• New CCS monitoring project starting summer 2026 at U.K.’s first offshore CCS site

Negative

• None.

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Year-to-Date the Company has Announced $327 Million in Combined Product Orders

TORONTO, July 20, 2026 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (“Kraken” or the “Company”) (TSX-V: PNG, OTCQB: KRKNF) is pleased to announce continued momentum with $35 million in new product orders from customers in maritime defense, offshore energy, and ocean science. By technology solution, these orders are across navigation and positioning systems, multi-aperture sonar, positioning, and monitoring systems from Covelya, as well as Synthetic Aperture Sonar (SAS) from Kraken.

“Our product portfolio forms the backbone of a wide range of platforms used across both defence and commercial applications and we expect it to represent over 75% of consolidated revenue in 2026,” said Greg Reid, CEO of Kraken Robotics. “These include crewed platforms such as ships and submarines, as well as uncrewed systems including autonomous underwater vehicles (AUVs), uncrewed surface vessels (USVs) and remotely operated vehicles (ROVs). Beyond vessel-based applications, our dual-use technologies are also deployed in unattended seafloor sensors.”

The Company has announced $327 million in total product orders to date in 2026 for Kraken and Covelya on a combined basis across defence and offshore energy customers, highlighting the strength and breadth of demand for the combined company’s product portfolio. These orders have been driven primarily by Kraken’s growing customer base for SeaPower batteries and SAS technology, together with demand for Covelya’s navigation and positioning equipment and advanced sonar systems. The Company’s products are integrated, or are being integrated, across a broad range of crewed and uncrewed platforms, including more than 30 AUV platforms worldwide. Below is an overview of selected product segments within the Company experiencing increased demand and growth opportunities:

DEFENCE MARKET

• Sentinel Intruder Detection Sonar (IDS) Systems – The Sentinel IDS automatically detects, classifies and tracks subsea threats, from divers and swimmer delivery vehicles to AUVs, at hundreds of critical infrastructure sites worldwide such as power plants, liquified natural gas facilities, desalination plants and other waterside properties. Orders during 2026 reflect increased demand for port and harbour security from customers in the Middle East and Europe.
  

Figure 1: Sentinel IDS sonar head being deployed from a RHIB

• KATFISH remotely operated towed vehicle (ROTV) – The Company continues to see a large pipeline of opportunities and increased interest for its KATFISH solution for mine countermeasures and the monitoring of critical underwater infrastructure. This opportunity set has largely been focused as of late in North America, Europe and the Middle East, and has recently expanded to the Asia Pacific region. The Company expects these programs to be awarded to industry starting in the second half of 2026.

Figure 2: Kraken Robotics’ KATFISH deployed from the ISO20 launch and recovery system

• Synthetic Aperture Sonar (SAS) and Multi Aperture Sonar – The Company’s SAS and multi aperture sonar (MAS) products are being integrated into AUVs for defence customers across North America, the U.K., Europe, the Middle East and Asia Pacific region to perform a wide range of missions, including mine countermeasures (MCM); intelligence, surveillance and reconnaissance (ISR); and support for anti-submarine operations.
  

Figure 3: MAS and imaging payload module on an L3Harris Iver4 AUV.

• SeaPower Subsea Batteries – Demand for the Company’s high-energy-density batteries continues to grow, with multiple new defence customers added in 2026 across North America, the U.K., Europe and the Asia Pacific region. This momentum reflects both expanding adoption and market-share gains, as multiple AUV customers have switched to Kraken from alternative battery suppliers. Kraken’s battery customers now range from early-stage prototype programs, which are expected to grow over time, to full-scale commercial production.
  

Figure 4: Kraken Robotics’ SeaPower pressure tolerant subsea batteries

• SPRINT-Nav Navigation & Positioning System – Sonardyne’s SPRINT-Nav is an all-in-one acoustic-inertial navigation and positioning system used across small to extra-large AUVs, USVs, ROVs and SEAL Delivery Vehicles in both shallow- and deep-water environments. By integrating Doppler Velocity Logging (DVL), pressure sensing and inertial navigation into a single solution, SPRINT-Nav reduces system complexity while delivering precise real-time position, velocity and altitude data with improved power efficiency. The SPRINT-Nav family provides Kraken with added content per vehicle to its defence AUV customers with added exposure to growth in USVs and crewed vessels.
  

Figure 5: Sonardyne’s SPRINT-Nav family of acoustic-inertial navigation and positioning systems

• Vigilant Forward-Looking Sonar (FLS) – Vigilant FLS is a low-power, forward-looking sonar that can operate as a standalone unit or integrate with a vessel’s navigation and bridge systems to detect and help avoid collision hazards at ranges of up to 1,500 meters. This mission-critical technology has been installed to date on crewed vessels and AUVs, with growing interest and initial orders from notable USV companies, an emerging segment of the uncrewed vessel market.

Figure 6: Vigilant FLS on a Subsea Craft VICTA maritime delivery platform

• Optical Imaging Payloads – The Company’s optical imaging payloads combine cameras and laser scanners to deliver high-speed data capture, three-dimensional modelling and improved visualization for faster, more informed decision-making. These systems support applications including MCM, ISR and target identification, and have been deployed on various ROVs, towed vehicles and AUVs for major defence customers.
  

Figure 7: Optical imaging payload on an HII REMUS 600 AUV

OFFSHORE ENERGY MARKET

In the offshore energy market, the Company’s technologies support field development activities from initial discovery and surveying through construction, installation, inspection, repair and maintenance, monitoring and decommissioning. The Company’s product portfolio offering spans sonar, imaging, navigation, long baseline (LBL) and ultra-short baseline (USBL) positioning, communications and monitoring systems, as well as data acquisition and processing software.

The Company’s monitoring technology, which continues to expand into new growth areas, is now also being used to support both seismic data acquisition and carbon capture and storage applications as highlighted below.

• On Demand Ocean Bottom Nodes (OD OBNs) - In Brazil, Sonardyne has been collaborating with major oil and gas producers since 2018 to develop OD OBNs, a new technology designed to collect 4D seismic data in offshore reservoirs using autonomous systems and subsea communications. This approach enables operators to conduct more frequent, on-demand seismic surveys with higher-fidelity data and at a fraction of the cost of conventional seismic survey methods. The qualification of OD OBNs for commercial use began with the deployment in early 2026 at the Petrobras operated Mero field offshore Brazil. The technology is expected to move into full commercial production in 2027. These OD OBNs, which incorporate Sonardyne’s wireless optical and acoustic communications technology, transmit seismic information to ROVs or AUVs for data collection. Full-scale deployment in an offshore field is estimated to require hundreds or even thousands of OD OBNs.

Figure 8: Sonardyne’s On Demand Ocean Bottom Nodes (OD OBNs)

• Carbon Capture and Storage (CCS) - During the summer of 2026, the Company will begin environmental baseline monitoring for the Northern Endurance Partnership (NEP) at the U.K.’s first offshore CCS site. Using autonomous seabed monitoring landers placed above and around the Endurance storage site, the system will ultimately help verify that captured CO₂ remains safely contained underground. The landers combine Sonardyne’s Acoustic Doppler Current Profiler (ADCP) technology, alongside environmental sensing technologies and passive seismic monitoring to track conditions around the storage site. Sonardyne’s proprietary underwater communication, data processing and power management technologies enable data to be collected and processed remotely, so that it can be delivered to NEP on demand, providing timely insights.
  

Figure 9: Sonardyne’s Carbon Capture and Storage (CCS) system

ABOUT KRAKEN ROBOTICS INC.

Kraken Robotics is a global marine technology company transforming subsea intelligence through advanced sensors, software, and integrated systems. Serving defence, offshore energy, and ocean science markets, the company delivers actionable insights in challenging underwater environments. Kraken’s integrated subsea solutions span sonar, navigation, positioning, imaging, power, communications, monitoring, and data analytics.

On July 2, 2026, Kraken Robotics acquired the Covelya Group, bringing together Sonardyne, EIVA, Forcys, Voyis, and Chelsea Technologies. Together, the companies combine highly skilled global teams with a shared commitment to solving complex underwater challenges through world-class, dual-use technologies.

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

FORWARD LOOKING STATEMENTS

This news release contains statements that constitute “forward-looking information” as defined under applicable Canadian securities laws (collectively, “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: the continued integration and use of the Company’s technologies and products across defence and commercial applications, ongoing demand for port and harbour security, increasing demand for the monitoring of critical underwater infrastructure, timing of various opportunities; expected benefits and strategic rationale of the Company’s expanded product portfolio; continued demand for the Company’s high-energy-density batteries; that it will meet its sales targets including its product portfolio representing over 75% of consolidated revenue in 2026; the timing regarding expected commercial production for OD OBNs; the timing for the start of environmental monitoring at the U.K.’s first offshore CCS site; business objectives; and expected areas of growth for the Company’s products and services. 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, macroeconomic uncertainties, and other factors set out in the Company's continuous disclosure materials filed from time to time with the Canadian Securities Administrators, including the Company's most recent annual information form under the section entitled “Risk Factors”, quarterly and annual reports, and supplementary information, which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca. Additional risks and uncertainties not presently known to the Company or that the Company believes to be less significant may also adversely affect the Company. 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 accordingly, forward-looking statements should not be unduly relied upon.

Forward-looking 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, whether as a result of new information, future events or otherwise, except as required by securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange (TSXV) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this 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 or investors@krakenrobotics.com

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/76428bef-5b2b-45c9-b6dc-c70e0610b0ca

https://www.globenewswire.com/NewsRoom/AttachmentNg/644f0132-ad6d-46e6-a79a-3f3bc42bb423

https://www.globenewswire.com/NewsRoom/AttachmentNg/06e3da2d-8ec1-4e79-9419-0b8493a44b26

https://www.globenewswire.com/NewsRoom/AttachmentNg/3eaaecd5-42b0-4e75-9461-483072fd81a8

https://www.globenewswire.com/NewsRoom/AttachmentNg/61ee08cb-fa8b-43e7-b9fa-dee75f962586

https://www.globenewswire.com/NewsRoom/AttachmentNg/cc73345f-1ee2-486a-bc6c-ece6837baba1

https://www.globenewswire.com/NewsRoom/AttachmentNg/d2b88ffb-c095-4edb-be48-ec3532aa3ba3

https://www.globenewswire.com/NewsRoom/AttachmentNg/3205f169-1795-43ee-b6be-6e7ef8ec6284 

https://www.globenewswire.com/NewsRoom/AttachmentNg/71dbb1f4-5b62-412e-a0e7-f66b05143f5e

FAQ

What did Kraken Robotics (OTCQB: KRKNF) announce on July 20, 2026?

Kraken Robotics announced $35 million in new product orders and a 2026 business update. According to Kraken Robotics, year-to-date combined product orders for Kraken and Covelya reached $327 million, reflecting broad demand across defence, offshore energy and ocean science customers for their subsea technologies.

How large are Kraken Robotics’ 2026 orders so far for KRKNF shareholders?

Kraken Robotics reported $327 million in combined product orders year-to-date in 2026. According to Kraken Robotics, this total includes orders across defence and offshore energy customers for both Kraken and Covelya technologies, highlighting growing adoption of batteries, sonar, navigation and monitoring systems across multiple platforms.

What revenue mix does Kraken Robotics expect from products in 2026 for KRKNF?

Kraken Robotics expects its product portfolio to represent over 75% of consolidated revenue in 2026. According to Kraken Robotics, these products span navigation, positioning, sonar, monitoring systems and Synthetic Aperture Sonar deployed on crewed ships, submarines, AUVs, USVs, ROVs and seafloor sensor applications.

How does the Covelya acquisition impact Kraken Robotics (KRKNF) business in 2026?

Kraken Robotics completed the Covelya acquisition on July 2, 2026, combining several subsea technology brands. According to Kraken Robotics, Covelya adds navigation, positioning, sonar, imaging and monitoring products, contributing to the $327 million in 2026 product orders and broadening exposure to defence and offshore energy markets.

What defence market opportunities did Kraken Robotics highlight in its July 2026 update?

Kraken Robotics highlighted increased 2026 demand for Sentinel IDS, KATFISH, SAS/MAS, SeaPower batteries and Sonardyne systems. According to Kraken Robotics, these technologies serve mine countermeasures, port security, ISR and anti-submarine missions across North America, Europe, the Middle East and the Asia Pacific region.

What offshore energy and CCS projects involve Kraken Robotics and Sonardyne technologies?

Kraken Robotics reported Sonardyne’s OD OBNs entering commercial qualification at Petrobras’ Mero field and a U.K. CCS project. According to Kraken Robotics, OD OBNs support 4D seismic surveys, while seabed monitoring landers will track environmental conditions at the Northern Endurance Partnership’s offshore CO₂ storage site.