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

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:
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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

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