Kraken Robotics Reports $35 Million in New Orders and Provides Business Update

Toronto, July 20 2026 – Kraken Robotics Inc. (TSX‑V: PNG, OTCQB: KRKNF) told investors it has landed roughly US$35 million in new product orders for 2026. The orders come from a mix of maritime‑defence customers, offshore‑energy players and ocean‑science organisations, and they push the company’s combined year‑to‑date bookings – now including the recently‑acquired Covelya Group – to about US$327 million.

“We are seeing strong interest across the full breadth of our portfolio,” said Greg Reid, Kraken’s chief executive officer. He added that the momentum “reflects the value we bring to both defence and commercial customers as we expand our sensor and power‑systems capabilities.” The statement, of course, contains forward‑looking elements and the exact timing of revenue recognition will depend on contract specifics.

The new business spans several flagship product families. Highlights include the Sentinel Intruder Detection Sonar (IDS), the KATFISH remotely‑operated towed vehicle (ROTV), synthetic‑aperture and multi‑aperture sonars, SeaPower subsea batteries, the SPRINT‑Nav navigation suite from Sonardyne, the Vigilant forward‑looking sonar and a range of optical imaging payloads. These systems are being positioned for everything from autonomous underwater vehicles (AUVs) and unmanned surface vessels (USVs) to crewed warships, submarines and unattended seafloor sensor networks.

Geographically, Kraken’s defence clientele stretches across North America, the United Kingdom, Europe, the Middle East and the Asia‑Pacific. In the commercial arena, the firm pointed to two early‑2026 pilots: an on‑demand Ocean Bottom Node (OD OBN) trial at Petrobras’ Mero field off Brazil, and a carbon‑capture‑and‑storage (CCS) monitoring programme slated for summer 2026 under the UK’s Northern Endurance Partnership.

Kraken’s growth story is tightly linked to its July 2, 2026 acquisition of the Covelya Group – a collection of specialised marine technology firms that includes Sonardyne, EIVA, Forcys, Voyis and Chelsea Technologies. The integration has broadened Kraken’s addressable market and, according to the release, now accounts for well over three‑quarters of the company’s consolidated revenue.

For media or investor enquiries, the company listed Erica Hasenfus, Director of Global Marketing (erica.hasenfus@krakenrobotics.com) and Shant Madian, Director of Capital Markets (shant.madian@krakenrobotics.com) as points of contact.