Kraken Announces Ultra High Definition Gap Filler

Kraken Announces Ultra High Definition Gap Filler

ST. JOHN’S, Newfoundland and Labrador, July 13, 2020 (GLOBE NEWSWIRE) — Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean Company, is pleased to announce the development of an innovative gap filler solution for unmanned underwater vehicles based on the company’s AquaPix® Synthetic Aperture Sonar (SAS) and SeaVision® 3D laser scanner. This solution fills the nadir gap with ultra-high definition data. The gap filler will be available for customer implementation in Q4 2020.   
Leveraging our background in SAS and underwater laser imaging systems, Kraken has developed two integrated nadir gap-filling technologies:An acoustic gap reducer, based on Kraken’s AquaPix® system, which drastically reduces the size of the nadir gap while maintaining full SAS resolution.
 
An optical laser/camera gap filler, based on Kraken’s SeaVision® system, which fills the remainder of the nadir gap with ultra-high-resolution optical imagery and laser bathymetry.These gap filling technologies maximize the area coverage rate for high speed towed systems, such as Kraken’s KATFISH, as well as autonomous underwater vehicles.In mine warfare, it is well known that the probability of detecting and classifying a target increases with improving image resolution.  NATO criteria show that the probability of correct classification is directly proportional to the number of pixels displayed per target.  Any resolution coarser than 5 cm produces an unacceptably high rate of false alarms.  Furthermore, high resolution must be achieved across the entire swath and in both the along track and across track directions simultaneously because a mine may be placed in any position or orientation relative to the sonar. SAS and optical sensors are the only technologies that can meet these requirements for high resolution survey applications while maintaining high area coverage rates.  Kraken’s SeaVision® system collects 3D laser profiles and camera imagery simultaneously. The optical gap fill data can also be used for simultaneous in-stride target identification once a mine-like object has been detected and classified.Karl Kenny, Kraken President and CEO said, “I’m very proud of our science and engineering teams who have developed an ultra high-definition gap filler for seabed survey.  This is world-class technology. Gap filling has been a major concern of Kraken’s customers conducting mine countermeasure operations for many years. Gap-filling has been previously attempted using forward looking sonars and multibeam echosounders, and more recently new technologies have been released based on using forward steered real-aperture sidescan sonars.  However, for mine countermeasures, the pixel resolution and area coverage rates are insufficient.” “Even though other sonar technologies can acoustically fill the nadir gap, there is still a notable quality gap due to range dependent resolution. Kraken’s customers and partners in the MCM industry spoke, and we listened: the imagery is simply not good enough. This drove our team to develop our new Ultra High Definition gap filling innovations. Furthermore, most gap filling technologies also claim that they improve survey time by approximately 40%. This claimed improvement is relative to dated side-scan sonar, which has extremely poor performance compared to more advanced technologies. We believe the unique combination of Kraken’s AquaPix® Synthetic Aperture Sonar and SeaVision® 3D underwater laser imaging system vastly outperform traditional sonar technologies, enabling ultra high definition imagery without compromising speed or coverage rates.”Kraken also announces that its Board of Directors has approved the issuance of 1,500,000 options to certain Directors. These options have an exercise price of $0.57 and have a three-year term.ABOUT KRAKEN ROBOTICS INC.Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine technology company dedicated to the production and sale of software-centric sensors, subsea batteries and thrusters, and underwater robotic systems. The company is headquartered in St. John’s, Newfoundland with offices in Dartmouth, Nova Scotia; Toronto, Ontario; Bremen & Rostock, Germany; and Boston, Massachusetts. Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter. For more information, please visit www.krakenrobotics.com, www.krakenrobotik.de, www.krakenpower.de. Find us on social media on Twitter (@krakenrobotics), Facebook (@krakenroboticsinc) and LinkedIn.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, please contact:
Joe MacKay, Chief Financial Officer
(416) 303-0605
jmackay@krakenrobotics.com
Greg Reid, Chief Operating Officer
(416) 818-9822
greid@krakenrobotics.com
Sean Peasgood, Investor Relations
(647) 955-1274
sean@sophiccapital.com
Shauna Cotie, Marketing Manager
(709) 757-5757 x 241
scotie@krakenrobotics.com


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