St. John’s-based Kraken Robotics said Monday it has received a $1.1 million purchase order for its AquaPix synthetic aperture sonar systems from two NATO navies.
Delivery of the systems is scheduled for the first half of next year. The AquaPix is an off-the-shelf sonar system designed to be mounted on unmanned vessels. It boasts a lower price and longer range than competing products, Kraken said in a statement.
Kraken manufactures autonomous submarines for use by militaries and industry. Last year, the company raised $10 million and bought fellow underwater imaging company PanGeo Subsea.
“AquaPix is uniquely positioned within the industry to bring (longer-range imaging) capability to the increasingly popular small, man-portable vehicle class,” said Kraken.
Kraken shares on the TSX Venture exchange rose slightly on the news to 48 cents, extending a rally that has lasted since mid-August.
Subsidiary PanGeo, meanwhile, is on track to fulfill about $8 million worth of orders for its Acoustic Corer -- a seafloor-penetrating acoustic imaging system for offshore energy projects that earned its name by fulfilling a similar function to drilling physical rock cores.