Mr. Greg Reid reports

KRAKEN ROBOTICS AWARDED $1 MILLION CONTRACT TO SURVEY BURIED SUBSEA PIPELINE

Kraken Robotics Inc. has been awarded a contract for a specialized subseabed survey to map the exact location and integrity of buried pipelines. The contract, valued at $1-million, will be completed in the first half of 2024. It builds off a previous subseabed acoustic survey that Kraken completed last year. The new survey will utilize specialized magnetic surveying techniques combined with artificial intelligence (AI) and the previously acquired acoustic data set to image the buried pipelines. The goal of the survey, when combined with previous surveys, is to provide the customer with a comprehensive and detailed analysis of the buried pipeline's continuity, bends and any potential damage, to facilitate informed decision making.

About Kraken Robotics Inc.

Kraken Robotics is a marine technology company providing complex subsea sensors, batteries and robotic systems. Its high-resolution 3-D acoustic imaging solutions and services enable clients to overcome the challenges in the oceans -- safely, efficiently and sustainably. Kraken Robotics is headquartered in Canada and has offices in North and South America and Europe. Kraken is ranked as a top 100 marine technology company by Marine Technology Reporter.

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