Expanding NATO visibility in Europe this week - Kraken Robotics Sub Sea technology

 

Kraken Robotics (TSX-V: PNG): November 2026 NATO and Naval Defence Events

My assessment: Kraken's increasing visibility at allied naval defence events is strategically positive, particularly following its acquisition of Covelya. The company is now presenting a much broader range of underwater defence technologies, rather than primarily promoting its KATFISH minehunting system.

There is, however, an important distinction between participating in a NATO-sponsored exercise, exhibiting at a naval defence trade show, and securing an actual NATO procurement contract.

1. Confirmed exhibition: EURONAVAL 2026

EURONAVAL 2026

Paris, France — November 3–6, 2026

Paris Nord Villepinte Exhibition Centre

Kraken is exhibiting at Booth K121, showcasing its newly integrated naval technology portfolio, including KATFISH, synthetic aperture sonar, Sentinel underwater intruder detection, SeaPower batteries and navigation systems.

Kraken's November 4 LinkedIn announcement specifically highlights the integration of the former Forcys team into its broader defence offering.

LinkedIn+1

Why this matters: Kraken can now approach naval customers with complementary products for mine detection, underwater surveillance, infrastructure protection and autonomous underwater operations.

An especially interesting development is the company's announcement that it has shipped its first major Sentinel Intruder Detection System under the Kraken name, intended to protect multiple ports for an allied navy. That is evidence of actual commercial delivery, not simply exhibition activity.

LinkedIn

2. NATO Edge 2026 — İzmir, Türkiye

NCIA (@nato_ncia) on X

November 17–19, 2026

This is a NATO-organized technology and procurement event, bringing together military decision-makers, defence contractors and technology suppliers.

Kraken's participation has not yet been independently confirmed.

NATO Edge is particularly relevant because it connects suppliers with NATO capability requirements and acquisition processes. Kraken's sonar, underwater navigation and surveillance technologies fit several of those requirements.

Events+1

I would watch for confirmation that Kraken or its Covelya subsidiaries are exhibiting or meeting procurement officials there.

3. Recent NATO operational demonstration — REPMUS 2026

#repmus24 #krakenrobotics #repmus24 #marinedefense #subseawarfare #syntheticaperturesonar #sas | Kraken Robotics

Portugal — reported October 29, 2026

Unlike a trade show, REPMUS involves practical testing with allied naval forces.

Kraken, Sonardyne, Voyis and EIVA demonstrated combined mine-countermeasure capabilities.

Kraken reported detecting and classifying all 21 targets across eight survey areas, while its integrated imaging and navigation technologies achieved a 100% identification rate in the reported demonstration.

LinkedIn

This is arguably more significant than exhibiting at a trade show. It demonstrates technical interoperability between Kraken's newly combined businesses in an allied operational environment.

What does this mean for Kraken shareholders?

I see three important implications.

1. Improved access to defence procurement: Kraken is gaining opportunities to demonstrate its systems directly to naval operators, defence contractors and purchasing authorities.

2. Covelya acquisition benefits: The combination of Kraken sonar, Sonardyne navigation, Voyis imaging, EIVA software and Sentinel security systems creates opportunities to sell integrated solutions rather than individual components.

3. Potential for larger contracts: Successful operational demonstrations and broader product offerings could support future orders for mine countermeasures, underwater surveillance, autonomous vehicles and port security.

There is still a substantial difference between demonstrated capability and funded procurement. Exhibitions alone do not establish new orders or near-term revenue.

However, Kraken's expanding and cutting edge technology cannot be ignored as the expansion of NATO navies around the world, including Canada's, are beginning to spend billions on Sub Sea military and monitoring technology.  

Kraken has that technology in spades.

Investment verdict — PNG

Constructive for the 12–24-month investment thesis.

Kraken is increasingly positioned as a comprehensive underwater defence technology supplier. Its recent Sentinel shipment and REPMUS results strengthen that assessment.

Previous Articles:

Kraken Robotics in a great position to help supply NATO navies with their sub sea technology!

Kraken Robotics - NATO Navy supplier is moving up the ladder with massive, undersea battery facilitysynergies.

Kraken Robotics (TSX: PNG) — Updated Investment Note - Oct 30th 2026

 

October 30, 2026 | Investment outlook: 6–18 months

Investment Thesis: Strengthening — Bullish

Kraken Robotics continues to evolve from a specialized Canadian underwater technology supplier into an increasingly important participant in NATO-aligned naval modernization, autonomous mine countermeasures and subsea defence systems.

The company's $24 million in defence orders, announced March 17, included more than 10 customers across five countries, three new defence customers, and another KATFISH sonar sale to the Polish Navy. Importantly, Poland is a repeat customer, having originally selected KATFISH in 2020. This strengthens Kraken's credibility as an established supplier rather than an experimental technology provider.

Kraken Robotics

Important developments

• Defence orders expanding: In addition to March's $24 million announcement, Kraken disclosed $28 million in battery and sonar orders in April and another $35 million in new orders in July. These announcements demonstrate continued commercial momentum, although they should not be interpreted as entirely incremental revenue without reviewing delivery schedules.

• Covelya acquisition: The July acquisition substantially expanded Kraken's underwater technology portfolio through Sonardyne, EIVA, Voyis and other specialized businesses, creating opportunities for integrated sensor, navigation, imaging and autonomy solutions.

• REPMUS 2026: Kraken's recently reported NATO exercise results are particularly encouraging. Its synthetic aperture sonar detected and classified all 21 targets across eight survey areas, while Voyis and EIVA technologies achieved a reported 100% target identification rate. This provides valuable operational validation, although exercise performance does not guarantee future procurement contracts.

• 2027 opportunity: Increasing NATO emphasis on autonomous minehunting, underwater surveillance and protection of critical subsea infrastructure should favour companies capable of supplying interoperable systems rather than individual components.

Kraken Robotics+1

Financial position and outlook

2026 revenue guidance

C$290–320M

2026 adjusted EBITDA guidance

C$65–75M

Combined 2026 orders announced by Aug. 27

~C$355M

June 30 cash, excluding escrow proceeds

C$91.3M

Company-reported figures. Guidance includes six months of Covelya operations; the C$355M order figure combines both businesses and is not equivalent to recognized revenue.

Kraken Robotics

Investment risks

Kraken's rapid expansion brings acquisition-integration risk, potential shareholder dilution, defence procurement delays and valuation sensitivity. Q2 standalone revenue grew only 4%, and the company recorded a C$7.5 million net loss, highlighting the need to distinguish order momentum from realized earnings.

Kraken Robotics (PNG): Beyond KATFISH — The New Technology Portfolio

Investment and technology review | November 2, 2026

Kraken Robotics is evolving from a specialist in high-resolution underwater sonar into something potentially much more valuable: an integrated supplier of underwater sensing, autonomous navigation, optical imaging, subsea intelligence and advanced batteries.

The acquisition of the Covelya Group companies is particularly significant. It gives Kraken the opportunity to combine technologies that previously belonged to separate businesses into complete underwater surveillance and mine-countermeasure systems.

For investors, the important distinction is between technologies Kraken invented, technologies it acquired, and new integrated capabilities it can now offer.

KATFISH remains a flagship product, but several other technologies deserve attention, particularly those applicable to NATO submarine operations, autonomous underwater vehicles (AUVs), Arctic surveillance and seabed infrastructure protection.

1. The technologies I consider most important

Kraken Robotics Receives $11 Million of SeaPower Battery

SeaPower advanced batteries — developed by Kraken

High investment significance

These pressure-tolerant batteries power underwater drones, allowing longer missions without surfacing. Kraken has developed a higher-energy-density design for large and extra-large UUVs, delivering approximately 30% improvement over its previous design, plus a compact design targeting smaller vehicles.

Why it matters: Kraken can supply batteries to competing underwater-drone manufacturers, regardless of whose sonar they use. A 2026 master supply agreement for XL-UUV batteries supports this opportunity.

NEWS RELEASE+1

Kraken Robotics To Equip New AUV Customer With AquaPix® Sonar | Ocean News & Technology

Circular Synthetic Aperture Sonar (C-SAS) — developed by Kraken

Emerging technology

A dual-frequency sonar system designed to image seabed objects from a full 360-degree range of viewing angles. This can improve object classification and identification beyond conventional straight-line sonar passes.

Why it matters: Potentially valuable for confirming suspicious objects, identifying underwater hazards and inspecting seabed infrastructure. It is a development milestone, not yet evidence of widespread commercial adoption.

NEWS RELEASE

Syrinx DVL - Geo-matching

SPRINT-Nav — acquired through Sonardyne

Combines inertial navigation, Doppler velocity measurements and depth sensing to help underwater vehicles know their position when GPS signals cannot reach them.

Why it matters: Navigation is essential for virtually every autonomous underwater vehicle, whether deployed for minehunting, reconnaissance, submarine support or scientific surveys. It creates an opportunity for recurring platform sales beyond sonar.

GlobeNewswire

Wavefront’s Sentinel IDS leaves underwater drones nowhere to hide | Ioseba Tena

Sentinel Intruder Detection Sonar — acquired through Wavefront

An underwater security system that automatically detects, classifies and tracks divers, swimmer delivery vehicles and underwater drones approaching protected facilities.

Why it matters: Direct application to naval bases, ports, energy facilities and critical maritime infrastructure. Kraken reported new demand in Europe and the Middle East during 2026.

GlobeNewswire

Discovery Stereo Vision System | Technology Catalogue

Discovery Stereo and underwater optical imaging — acquired through Voyis

Advanced underwater cameras and optical perception systems capable of producing detailed imagery and supporting three-dimensional reconstruction of subsea objects.

Why it matters: Sonar finds suspicious objects at distance; optical imaging helps establish precisely what they are. Combining these capabilities can strengthen autonomous mine identification and infrastructure inspection.

EIVA NaviSuite bundles - software tailored to your needs

NaviSuite and visual SLAM — acquired through EIVA

Software for underwater navigation, mission planning, survey processing and three-dimensional mapping. Visual simultaneous localization and mapping (VSLAM) helps vehicles estimate their position while building a map of their surroundings.

Why it matters: Software can turn separate sonar, camera and navigation products into an integrated autonomous mission capability. It also creates potential for software licensing and ongoing support.

Vigilant proves obstacle avoidance capability to the US Navy - Sonardyne

Vigilant Forward-Looking Sonar — acquired through Sonardyne

Detects obstacles ahead of underwater and surface vehicles, helping them navigate safely in complex environments.

Why it matters: Obstacle avoidance is a fundamental requirement for autonomous underwater missions. Kraken reported record deliveries of Vigilant systems in its August 2026 update.

Kraken Robotics

2. Other technologies now within Kraken

Technology	Origin	Strategic application
Multi-Aperture Sonar (MAS)	Covelya	Underwater detection, classification and AUV missions
ScanFish remotely operated towed vehicles	EIVA	Seabed surveys and sensor deployment
Sub-bottom imaging and acoustic coring	Kraken / PanGeo	Locating buried objects and studying seabed geology
Underwater LiDAR	3D at Depth acquisition	Precision 3D inspection of pipelines, cables and infrastructure
Acoustic positioning and underwater communications	Sonardyne	Coordinating autonomous vehicles and underwater assets
Seabed pressure sensors	Covelya portfolio	Persistent subsea monitoring and detection applications

These are established or developing capabilities, not necessarily products invented since the July 2026 Covelya closing. Kraken's August disclosure specifically identified orders for monitoring systems, seabed pressure sensors and ScanFish vehicles.

Kraken Robotics+2

3. The most revealing development: REPMUS 2026

The recent NATO-aligned REPMUS exercise in Portugal provides an important illustration of the acquisition's strategic value.

As you previously highlighted, Kraken reported the following results:

Kraken synthetic aperture sonar

21/21

Targets detected and classified across eight survey areas

Voyis imaging + EIVA software

100%

Reported target identification rate in the exercise

The exercise demonstrated how the technologies complement one another:

Kraken SAS

Detects and classifies potential threats

Voyis optical imaging

Captures detailed images of identified targets

EIVA NaviSuite / VSLAM

Supports localization, mapping and target identification

Integrated underwater intelligence

More complete information for naval operators and autonomous systems

The results are encouraging evidence of interoperability, although controlled exercises do not establish performance under every operational condition.

An important qualification: these systems principally support mine detection, classification and identification. Physical mine neutralization or recovery generally requires additional equipment and procedures.

4. Which technologies have the greatest investment potential?

My ranking is based on addressable markets, potential adoption across multiple platforms and opportunities to increase Kraken's revenue per customer—not on announced product-specific profit margins.

Rank	Technology	2–4 year outlook
1	SeaPower batteries	Very high — growing UUV market and potential production-volume contracts
2	SPRINT-Nav and underwater positioning	Very high — essential equipment across multiple vehicle classes
3	Integrated SAS, Voyis and EIVA systems	High — differentiated end-to-end naval capability
4	Sentinel security sonar	High — ports, naval bases and critical infrastructure
5	Circular SAS	Promising — commercial uptake still needs validation
6	Underwater LiDAR and sub-bottom imaging	Moderate to high — attractive commercial and defence niches

The market opportunity is already extending beyond demonstrations. Kraken reported approximately C$355 million in combined announced 2026 orders by August 27, across Kraken and Covelya, covering products such as batteries, navigation, positioning, sonar and monitoring equipment. This is an announced-orders measure, not recognized revenue or a current backlog figure.

Kraken Robotics+1

5. My investment assessment

I believe the most significant consequence of the Covelya acquisition is that Kraken no longer needs to win the entire underwater-drone contract to benefit from it.

Consider an allied navy commissioning a fleet of autonomous underwater vehicles. Kraken may be able to supply the batteries, navigation, positioning, sonar, imaging and mission software, even when another defence contractor builds the vehicle itself.

This is a potentially powerful business model because it broadens Kraken's customer base and increases the value of its components on each platform.

It is particularly relevant to NATO's increasing interest in persistent underwater surveillance, protection of subsea cables and pipelines, and autonomous operations in challenging maritime environments.

The principal investment risks remain acquisition integration, defence procurement delays, competition from established naval technology suppliers, and the possibility that the share price already discounts substantial growth.

My conclusion: SeaPower batteries and the acquired Sonardyne navigation technologies could ultimately be as important to Kraken's commercial growth as KATFISH. The combination of Kraken SAS, Voyis optical imaging and EIVA software may become its most differentiated integrated defence offering.

The next evidence I would watch is whether Kraken begins winning substantial contracts explicitly bundling several of these technologies together, rather than selling individual components.

That would be a meaningful indication that the Covelya acquisition is delivering strategic value beyond simply adding six established companies and their existing revenues.

Investment verdict — BUY/HOLD, with discipline

My outlook remains bullish for 2027. Kraken's combination of advanced sonar, subsea batteries, autonomous systems integration and established NATO customer relationships gives it an increasingly attractive competitive position.

Smallcap Drone and autonomous systems stocks are catching the eye of U.S. and Canadian retail investors

 

Drone & Autonomous Defense Stocks — October 2026

Our five-company drone/autonomous-systems basket provides exposure across air, counter-drone, public safety and subsea defence. Going into October, the opportunity remains compelling, but valuations and execution risk vary considerably.

1. VOLATUS AEROSPACE — FLT.TO

Price: C$0.54 | October view: Most attractive entry

Volatus combines Canadian drone manufacturing, ISR, cargo/logistics, services and its developing V-Cortex autonomy platform. The shares have retreated from C$0.64 on September 23 to C$0.54 despite important operational progress.

Most importantly, Volatus has secured a five-year CAF tactical ISR contract: 100 systems initially, with options for another 4,900. The options are not guaranteed orders, but they establish a potentially important procurement pathway.

Investment case: At approximately C$0.54, FLT offers an attractive combination of depressed share price, improving balance sheet, Canadian sovereign-drone exposure and substantial defence optionality.

October stance: BUY/ACCUMULATE

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2. KRAKEN ROBOTICS — PNG.V

Price: C$4.35 | October view: Highest-quality business

Kraken isn't an aerial-drone company; it provides the underwater component of the autonomous-defence thesis through sonar, subsea batteries, mine-hunting technology and marine robotics.

Q2 revenue was C$27.3M with C$5.0M adjusted EBITDA. More importantly, Kraken and newly acquired Covelya had approximately C$355M of announced 2026 orders combined.

At C$4.35, PNG remains roughly 32% below its beginning-of-year level, despite the considerably larger business created by Covelya.

Investment case: Of these five, Kraken has the strongest combination of established revenue, profitability, proprietary technology, naval/NATO exposure and backlog visibility.

October stance: BUY/ACCUMULATE

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3. ONDAS — ONDS

Price: US$7.49 | October view: Highest growth

Ondas has evolved into a much larger autonomous-defence platform. TTM revenue is now approximately US$174M, while its expanding portfolio includes autonomous drones, counter-UAS and U.S. defence programs. Its market capitalization is approximately US$4.27B.

The attraction is enormous growth and contract momentum; the risks are equally clear: acquisition integration, high spending and a valuation that already anticipates considerable future success.

Investment case: Excellent growth exposure, but significantly more expensive than FLT and much more complex operationally.

October stance: BUY ON WEAKNESS / HOLD EXISTING

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4. WRAP TECHNOLOGIES — WRAP

Price: US$1.40 | October view: Speculative

WRAP is the smallest and most speculative holding. Q2 revenue doubled to US$2.1M and gross margin reached roughly 75%. The company subsequently raised US$12M to expand WrapShield into public safety, federal defence and counter-UAS applications.

At roughly US$1.40 and an US$86M market capitalization, expectations are much lower than for ONDS or DPRO.

Investment case: Interesting asymmetric speculation, but WrapShield and the defence strategy still need commercial validation.

October stance: SMALL SPECULATIVE HOLD/ADD

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5. DRAGANFLY — DPRO

Price: US$6.17 | October view: Watch

DPRO has become considerably more interesting. It won essentially the same CAF tactical ISR framework opportunity as Volatus—100 initial systems with options for another 4,900—and qualified across all five Canadian Defence Drone Initiative streams.

Furthermore, Unusual Machines and a U.S. investment fund have invested US$10M at US$5.35/share, strengthening DPRO's U.S. defence connections.

The problem is valuation. At US$6.17 DPRO carries an approximately US$231M market cap against only US$6.37M TTM revenue—a roughly 36× price/sales multiple. Shares outstanding have also increased substantially over the past year.

Investment case: Excellent strategic potential, but investors are already paying heavily for revenue that hasn't arrived yet. Around the US$5.35 strategic-financing level, the risk/reward would become more interesting.

October stance: WATCH

October 2026 — Capital Priority

FLT → PNG → ONDS → WRAP → DPRO

For new money in October, FLT and PNG stand out for different reasons. FLT offers the more asymmetric Canadian drone/defence opportunity at today's depressed C$0.54 price, while PNG provides the stronger operating business, positive adjusted EBITDA and substantial defence order book.

ONDS remains an important growth holding but doesn't need to be chased. WRAP warrants only a small speculative allocation until its new defence strategy produces meaningful contracts.

And DPRO stays on the watch list. The company is becoming strategically interesting, but at US$6.17 the valuation is difficult to justify from current revenue. A retreat toward US$5.35 or below, or a major new contract that materially changes expected revenue, would warrant another look.

Bottom line

Going into October, I would concentrate incremental drone/autonomy capital primarily in Volatus and Kraken, retain Ondas as the larger high-growth U.S. autonomy position, keep WRAP small and speculative, and wait for a better DPRO entry or stronger contract confirmation.

A powerful setup for exponential growth from combining two of Canada's smallcap stocks (PNG and FLT)

 

A structured, investor-grade case for combining both Kraken Robotics (TSXV: PNG) and Volatus Aerospace (TSXV: FLT) into a portfolio

 

👉 dual-use (commercial + defense) technologies leveraged into a historic NATO/Canada/U.S. defense supercycle.

(Ed Note: Disclosure - We are long both stocks and accumulating at these exceptionally low levels)

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🧭 1. Macro Tailwind: A Once-in-Generation Defense Supercycle

 

Reuters

NATO sees sharp increase in Europe and Canada's defence spending

Yesterday

Key facts (this is the foundation of this thesis):

• NATO + Canada defense spending +20% YoY in 2025
• Canada now at ~$63.4B annually (2% GDP) and rising
• NATO targeting 5% of GDP by 2035 (massive structural shift)
• Canada planning:
  • +85% defense R&D
  • +240% defense industry revenues
  • Domestic procurement shift (less reliance on U.S.)
• Global defense spending heading toward $2.6 trillion annually

What this really means (investment lens):

This is not cyclical. It is:

• A multi-decade reindustrialization of defense
• A shift toward autonomous systems, AI, and unmanned warfare
• A push for domestic suppliers (Canada/EU)

👉 This is exactly where Kraken + Volatus sit.

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⚓ 2. Kraken Robotics — “Underwater AI + Robotics = Naval Force Multiplier”

📡 Core Technology Advantage

Kraken builds:

• Synthetic aperture sonar (SAS)
• Underwater drones (AUV/ROV systems)
• Subsea batteries (critical for autonomy)
• Ocean mapping + intelligence systems

These are used for:

• Mine detection
• Submarine tracking
• Infrastructure protection (pipelines, cables)
• Arctic surveillance

Why this matters:

Traditional naval power:

• $billions per ship
• decades to deploy

Kraken systems:

• Deploy in <1 year
• Cover more area at lower cost
• Act as force multipliers

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🚀 Growth Drivers (Next 24 Months)

1. NATO Naval Modernization + Arctic Security

• Arctic is now a strategic battlefield
• Canada explicitly prioritizing Arctic sovereignty
• Underwater drones = essential for vast coastlines

👉 Kraken is almost perfectly aligned with this need.

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2. Shift to Autonomous Naval Warfare

Modern naval doctrine:

• Move from crew-heavy platforms → autonomous fleets
• Subsea domain = least monitored, highest risk

Kraken’s niche:

• “Eyes and ears of the ocean”

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3. Export Leverage (Already Proven)

• ~90% of revenue from international customers
• Customers in 30+ countries

👉 This is critical:

• Not dependent on slow Canadian procurement
• Already integrated into NATO ecosystem

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4. Dual-Use Flywheel

Commercial markets:

• Offshore energy (oil, wind)
• Subsea infrastructure inspection
• Ocean mapping

Defense demand → scales manufacturing → lowers cost → boosts commercial margins

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📈 Investment Thesis (Kraken)

Why exponential growth is plausible:

• Small base + high-margin tech
• Positioned at critical naval chokepoint
• Direct exposure to:
  • NATO spending
  • Arctic expansion
  • subsea infrastructure security (huge emerging theme)

👉 If defense contracts accelerate, revenue can scale non-linearly

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🚁 3. Volatus Aerospace — “Airspace Control + Drone Warfare Layer”

🛰️ Core Technology Stack

Volatus is not just drones — it’s a full-stack aerial intelligence platform:

• UAV operations (inspection, surveillance, delivery)
• Counter-drone systems (C-UAS)
• AI-enabled airspace monitoring (SKYDRA platform)
• Services + SaaS model emerging
• 
  ▶️ Volatus Aerospace enters a commercial contract to deploy remotely managed drones capable of delivering 100kg payloads to offshore wind turbines > > https://hubs.la/Q047vGMB0

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🔥 Why Volatus is Strategically Important

1. The Drone War Era Is Here

Modern conflicts (Ukraine, Middle East):

• Drones are now:
  • Surveillance tools
  • Strike weapons
  • Infrastructure threats

👉 Counter-drone = must-have capability

Market:

• Counter-UAS expected >$20B by 2030

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2. Defense + Civil Convergence

Volatus operates in:

• Defense
• Infrastructure inspection
• Energy
• Public safety

👉 Same platform → multiple revenue streams

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3. Recurring Revenue Transition (Key Inflection)

• SKYDRA = SaaS-based system
• Moves business from:
  • Project-based → subscription model

👉 This is where valuation multiples expand.

---

4. Direct Tailwind from Canadian Policy

• Canada explicitly pushing:
  • Domestic defense suppliers
  • Drone & surveillance capability
• Volatus already positioned as:
  • Canadian-based operator with defense alignment

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🚀 Growth Drivers (Next 24 Months)

1. Counter-Drone Demand Explosion

• Airports, military bases, cities
• NATO airspace protection mandates

---

2. NATO Infrastructure Protection

• Pipelines, ports, energy grids
• Requires:
  • Persistent aerial monitoring
  • Rapid deployment drones

---

3. Defense Contracts + Partnerships

• Even small contracts → huge revenue impact (microcap effect)

---

4. SaaS + Platform Expansion

• High-margin recurring revenue layer
• Potential valuation re-rating event

---

📈 Investment Thesis (Volatus)

Why exponential growth is plausible:

• Positioned at fastest-growing defense segment (drones)
• Transitioning to software + recurring revenue
• Benefiting from:
  • Defense spending
  • Civil infrastructure demand
  • AI-driven airspace control

👉 This is a classic small-cap asymmetry setup

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⚖️ 4. Kraken vs Volatus — Complementary, Not Competing

Category	Kraken Robotics	Volatus Aerospace
Domain	Underwater (subsea)	Airspace (UAV)
Core Role	Naval intelligence	Airspace control
Defense Use	Mine detection, surveillance	Counter-drone, ISR
Commercial Use	Energy, mapping	Infrastructure, inspection
Revenue Model	Hardware + services	Services → SaaS shift
Strategic Role	Ocean dominance	Airspace dominance

👉 Together they represent:
“Full-spectrum unmanned warfare exposure” (sea + air)

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🧠 5. Why This Could Be an “Exponential Growth Window”

The Setup:

1. Massive capital inflow (defense budgets)
2. Structural shift to autonomy
3. Domestic supplier preference (Canada/NATO)
4. Small-cap companies with scalable tech

The Result:

• Revenue growth is lumpy → then accelerates sharply
• Contracts → backlog → scaling → margin expansion

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⚠️ 6. Risks (It's Critical to Keep Grounded)

Kraken:

• Procurement delays (Canada is slow)
• Competition from large defense primes (Kongsberg, Thales)

Volatus:

• Execution risk (microcap scaling)
• Capital requirements / dilution
• Fragmented drone market

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🧭 7. Bottom-Line Investment View

Structuring this as I typically do:

🔵 Core Thesis:

“Autonomous warfare infrastructure is replacing traditional platforms — Kraken (sea) and Volatus (air) are early-stage suppliers to that shift.”

🟢 Portfolio Role:

• Kraken = more proven, export-driven
• Volatus = higher risk, higher upside (optionality)

⚡ Upside Scenario (2 years):

• Kraken → steady contract scaling + margin expansion
• Volatus → step-change growth if SaaS + defense contracts hit

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🧩 Final Take

This is one of the rare setups where:

• Macro (defense supercycle)
• Technology (autonomy + AI)
• Policy (domestic procurement)
• Geography (Canada/NATO alignment)

👉 All point in the same direction

That’s exactly the environment where small-cap defense tech can go nonlinear.

Recent News:

Volatus Aerospace Reports Fiscal Year 2025 Financial Results

, from 8:30AM ET on Tuesday Mar 31, 2026 by Dow Jones

8:30AM ET on Tuesday Mar 31, 2026 by Dow Jones

   -- Revenue Growth of 26% year-over-year 
 
   -- Defence Equipment revenues more than 2x from 2024 
 
   -- Total Assets of C$92M+, up 60% year-over-year 
 
   -- Europe & UK revenue grew 150%, driven by NATO-aligned defence business 
 
   -- Current cash balance of C$41M 
 
   -- Secured a NATO defence contract valued at up to C$9M in Dec 2025 
 
   -- Establishment of the Volatus Innovation & Drone Manufacturing Facility in 
      Mirabel, QC 

Related Articles:

Kraken Robotics is in the right place, at the right time, with the right technology for eager buyers!

Volatus Aerospace (FLT.t) is one of those hidden gems in the smallcap/microcap space. Here's why!

Did Desjardin just Release the Kraken? - Kraken Robotics Investment and Business Report (June 2025)

 

Company Overview

Name: Kraken Robotics Inc.
Ticker: TSX-V: PNG | OTCQB: KRKNF
Headquarters: Newfoundland & Labrador, Canada
Sector: Maritime Robotics, Defense, and Subsea Infrastructure
Specialties: Synthetic Aperture Sonar (SAS), subsea batteries, underwater drones (KATFISH), LiDAR, seabed mapping systems

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Desjardins Recent Financing (June 2025)

In June 2025, Kraken completed a major bought-deal financing of CAD 100 million, underwritten by Desjardins Capital Markets. The deal involved issuing 37.6 million shares at CAD 2.66/share, with an over-allotment option for an additional 15% (~5.6M shares).

• Total Proceeds: Up to CAD 115M gross (with over-allotment)

• Use of Proceeds:

  • Expansion of subsea battery manufacturing in Nova Scotia

  • Acceleration of SAS and KATFISH production

  • Expansion into global naval and energy markets

  • Integration of recent acquisition (3D at Depth)

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Major Contracts and Revenue Streams

1. Defense/Naval Sector (NATO & Allies)

Kraken is well-positioned to benefit from increased global defense spending, especially among NATO allies. Recent developments include:

• NATO Navies (Europe & North America):

  • Multi-year, multi-nation contracts in pipeline

  • Successful demos of KATFISH and AquaPix SAS with navies in Canada, U.K., and Norway

    
    
    

  • Legacy contract with an Asia-Pacific navy for $9.5M CAD

• Canadian Department of National Defence:

  • Standing Offer Agreements in place

  • Active participant in Canadian defense modernization

2. Subsea Energy Sector (North America, Europe, Asia)

• Battery Contracts:

  • Orders exceeding $11M CAD for SeaPower subsea batteries for UUVs and AUVs

  • Strong backlog through 2026; production scaling in Canada

• Acoustic Corer Projects:

  • $8M CAD contract for seabed imaging in offshore wind farms

    
    
    

  • Targeting North Sea, U.S. East Coast, and East Asia wind development

3. Commercial Survey and Offshore Wind

• Sub-bottom Imaging Contracts:

  • $3M CAD in contracts signed in Q2 for seabed survey and UXO detection

  • LiDAR and 3D imaging added via acquisition of 3D at Depth (US$17M deal closed in April 2025)

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Global Expansion & Opportunities

North America

• Canada: Anchor client for defense, with ongoing naval trials and procurement

• United States: Entry point through 3D at Depth acquisition; U.S. Navy and offshore wind developers are key prospects

Europe

• U.K. Royal Navy: Target client for KATFISH SAS and subsea batteries

  
  
  

• Germany/Norway/Netherlands: Interest from NATO-aligned agencies and surveyors

Asia-Pacific

• South Korea & Japan: Offshore energy and maritime security are priority targets

• Australia: Collaborations under consideration for AUV integration with Kraken’s battery tech

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Strategic Acquisitions

3D at Depth (Closed April 2025)

• Adds underwater LiDAR and 3D imaging capabilities

• Expands Kraken’s offering into real-time digital twins and high-res asset inspection

• Strengthens U.S. presence

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Financial Outlook (2025–2026)

• 2025E Revenue: CAD 65–70 million

• EBITDA Margin: 18–20% projected

• Cash Position Post-Financing: CAD 190M+ (incl. Q1 cash + new capital)

• Dilution: ~20% increase in outstanding shares (now ~225–230M)

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Valuation Commentary

• Intrinsic Value Estimate: ~CAD 1.60/share based on conservative DCF

• Catalyst-Based Upside: Potential to exceed CAD 3.00–3.50 if NATO/naval contracts close and battery backlog accelerates

• Stock Price (Post-Deal): CAD 2.66 (anchor price)

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Investment Thesis

Kraken Robotics presents a compelling small-cap defense and robotics play, with:

• Direct exposure to rising defense spending and subsea security needs

• Proprietary technology (SAS, subsea batteries, LiDAR)

  
  
  
  
  

• Strong capital position post-financing

• Contracts in place and strong pipeline across NATO, energy, and commercial sectors

Risks: Execution of integration, government contract delays, market dilution

Upside: Accelerated backlog conversion, new contracts (NATO/U.S. Navy), energy transition tailwinds

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Verdict: Kraken Robotics is well-capitalized, technologically differentiated, and globally relevant—poised to scale into a key supplier in subsea defense, robotics, and energy infrastructure.

ED Note:

Full disclosure: We are long PNG stock!

Our previous article from January 2025

A shadow war is brewing under the worlds oceans. 

Release "The Kraken"!

Update: August 2025

Recent Developments

1. Massive SeaPower™ Battery Orders & Nova Scotia Expansion

• Kraken secured $34 million in SeaPower battery orders from three clients, including a $31 million order—its largest yet—from a UUV defense provider, plus $3 million from two commercial clients.Kraken Robotics+15Kraken Robotics+15ca.finance.yahoo.com+15

• The company signed a lease and committed $10 million to establish a 60,000 sq ft battery production facility in Nova Scotia by late 2025. Once operational, capacity could nearly triple—approaching $200 million in annual battery output—and create around 200 advanced manufacturing jobs.Kraken Robotics+2ept.ca+2

Kraken Robotics continues to build strategic momentum—boosting its financial runway, expanding production, winning key orders, and deepening its defense-industry capabilities. It’s clearly accelerating toward becoming a global prime contractor in subsea defense and energy markets.

Ed Note:  Added to PNG position Aug 7th 2025

A shadow war is brewing under the worlds oceans. Release "The Kraken"!

 

In recent months there have been increasing attacks on this critical infrastructure. In the Baltic, cables and pipelines critical to Europe have been attacked. A Chinese ship has been caught cutting undersea cables to Taiwan. These types of attacks are increasingly significant.  

Western countries are concerned Russia is sabotaging subsea cables that transmit 99% of the world’s data, including an estimated US$10 trillion a day in financial transactions. In response, the North Atlantic Treaty Organization (NATO) launched its new Baltic Sentry mission earlier this month after several cables under the Baltic Sea were damaged or severed in 2024, allegedly by Russia-backed vessels. On Sunday, Swedish authorities seized a ship suspected of damaging a data cable running under the sea to Latvia.

Enter, Canada's Kraken Robotics!

TSXV: PNG - OTCB: KRKNF

Assessing the Claims

1. Attacks on Undersea Infrastructure in the Baltic

   • In late September 2022, explosions severely damaged the Nord Stream 1 and 2 gas pipelines in the Baltic Sea. While investigations are ongoing, many observers regard these incidents as deliberate sabotage, underscoring the vulnerability of critical undersea infrastructure.
   • Beyond the pipelines, there have also been reports of suspicious damage to undersea data cables in Northern Europe (e.g., the Shetland/Faroes cables), though conclusive proof of who (if anyone) orchestrated such damage is difficult to obtain.

2. Undersea Cables Cut Near Taiwan

   • In February 2023, two undersea cables connecting Taiwan’s outlying Matsu Islands to Taiwan’s main island were severed in close succession. Investigations pointed to two different vessels—a suspected Chinese fishing boat for one cable and a cargo vessel (originating from another country) for the other.
   • While Taiwanese officials noted that these incidents could have been accidental (for instance, fishing boats often drag anchors or nets along the seafloor), they also acknowledged the possibility of deliberate interference. However, there was no publicly disclosed “smoking gun” that conclusively proved sabotage by the Chinese government.
   • To date, most reporting on these events stops short of declaring that a Chinese ship was definitively caught in the act of maliciously cutting cables. Rather, the incidents have heightened concerns about Beijing’s potential to disrupt Taiwan’s communications in a future crisis.

3. Why Undersea Cables Matter

   • Global Data Backbone: Roughly 95%–99% of international data—encompassing financial transactions, internet traffic, diplomatic communications—travels via fiber-optic cables on the ocean floor.
   • Economic Impact: With many trillions of dollars’ worth of daily transactions dependent on cable integrity, any disruption can cause immediate financial and logistical turmoil.
   • Geopolitical Significance: Because these cables are so crucial, adversaries view them as both a strategic vulnerability and a potential pressure point in times of conflict. Tapping or cutting cables can yield intelligence or inflict economic damage.

4. Attribution and Challenges

   • Difficulty of Policing: The ocean floor is vast, and cables are often unguarded; investigating a cable break in deep waters can take days or weeks, and the cause (accident vs. sabotage) can remain unclear.
   • Cover of ‘Accidents’: Fishing nets, anchors, or natural disasters (like underwater landslides) regularly cause cable damage, making it easier for saboteurs to hide malicious intent behind plausible deniability.
   • Legal/Operational Hurdles: Even if a country suspects sabotage, gathering and publicizing irrefutable evidence can be diplomatically and legally fraught, especially in disputed or international waters.

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Key Takeaways

• Confirmed Sabotage vs. Suspicion: Incidents in the Baltic (Nord Stream pipelines, reported cable damage) highlight the real possibility of state actors targeting undersea infrastructure. However, public, conclusive proof of exactly who carried out each incident remains limited or contested.
• Taiwan Incidents: While there is evidence that Chinese vessels were involved in damaging cables near Taiwan’s Matsu Islands, it is not definitively established that these were intentional acts of sabotage. Nonetheless, the incidents have raised legitimate concern about how easily Taiwan’s communications links could be disrupted—whether accidentally or deliberately.
• Strategic Vulnerability: Undersea cables (and pipelines) are indeed an attractive target in any “shadow war” scenario. Their disruption can yield outsized consequences due to how critical they are to global finance, internet access, and military coordination.

Ultimately, while it is accurate to say there have been suspicious or outright damaging incidents involving pipelines and cables in the Baltic and off Taiwan, the leap to a confirmed global campaign of deliberate cable-cutting—especially attributing it to specific nations—warrants caution. What is clear, though, is that states are increasingly aware of (and concerned about) the strategic leverage these underwater chokepoints represent and NATO navies are paying close attention!

the information below represents a synthesis of what has been widely discussed lately, in open reporting and strategic analyses.

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1. The Strategic Importance of Baltic Sea Cables

• Data Backbone: Over 95% of global internet, voice, and data traffic travels via undersea cables. An estimated US$10 trillion or more in financial transactions moves across these cables daily.
• European Connectivity: The Baltic Sea is crisscrossed by critical cables linking Northern European countries (Sweden, Finland, Estonia, Latvia, etc.) both to each other and to the wider global network. Disruptions there can cause significant economic and communications fallout.
• Recent Focus: Over the past few years, the Nord Stream pipeline sabotage (September 2022), damage to a Finland-Estonia gas pipeline and communications cable (October 2023), and now alleged cable breaks between Sweden and its neighbors have drawn heightened attention to potential hostile activity under the Baltic.

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2. Growing Concerns About Russian Sabotage

• Post–Nord Stream Anxiety: While the September 2022 Nord Stream explosions (involving the Nord Stream 1 and 2 gas pipelines) remain officially unsolved, many Western officials suspect a state actor’s involvement. This incident highlighted how vulnerable undersea infrastructure can be to sabotage.
• Pattern of Suspicious Activity: Various European defense analysts and intelligence agencies have pointed to an uptick in Russian naval and “research” vessel presence near critical undersea routes—though direct evidence tying those vessels to sabotage remains largely classified or circumstantial.
• Accidents vs. Deliberate Action: Cables and pipelines do sometimes get damaged by fishing nets, anchors, or natural events. However, the frequency and timing of recent incidents have fueled suspicions that some are deliberate.

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3. NATO’s Response: The “Baltic Sentry” Mission

• Enhanced Monitoring: NATO has been steadily increasing its maritime patrols and surveillance across the Baltic Sea region, especially after multiple undersea incidents.
• Baltic Sentry: While NATO has a range of standing naval forces and maritime missions (e.g., Standing NATO Maritime Groups), reports suggest a more focused initiative—referred to by some as the “Baltic Sentry” mission—has been launched to coordinate intelligence-sharing, patrols, and rapid-response capabilities specifically aimed at safeguarding undersea cables and pipelines.
  • Note: Official NATO communications sometimes use different names or do not disclose detailed operational codenames. “Baltic Sentry” may be an umbrella term used in media/analyst circles, or an internal working name for a bolstered presence in the region.

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4. The 2024 Incidents and Cable Breaks

• Multiple Cable Damages: In 2024, a series of incidents saw several undersea data cables in the Baltic either severely damaged or severed outright. Sweden, Finland, Estonia, and Latvia each reported unexpected outages.
• Attribution Theories: Western defense officials have repeatedly pointed to Russia-backed vessels or pro-Russian “private” actors as prime suspects, though public “smoking gun” evidence can be sparse.
• Motives: Sabotaging cables can:
  1. Undermine civilian and military communications.
  2. Generate economic disruption.
  3. Send a geopolitical signal of capability to strike “behind the scenes.”

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5. Sweden’s Seizure of Suspected Vessel

• Incident Summary: On a recent Sunday (as reported), Swedish authorities seized a ship suspected of damaging a data cable linking Sweden to Latvia.
• What We Know
  • Location: The cable break occurred in Swedish territorial (or near-territorial) waters of the Baltic Sea.
  • Suspicious Activity: Local media quoted Swedish coast guard or navy sources who believed the vessel may have been operating with specialized equipment or atypical patterns (e.g., suspicious anchoring or trawling) that led to the cable’s severance.
  • Legal Grounds for Seizure: Under maritime law, Sweden has the right to detain vessels within its territory if there is probable cause that they have caused serious harm or pose an immediate threat to critical infrastructure or environment.
• Possible Outcomes:
  1. If evidence confirms intentional sabotage, it could lead to diplomatic escalation or even charges under Swedish law.
  2. If deemed accidental, the vessel’s owners/operators may face civil or financial penalties but not necessarily criminal charges.
  3. Ongoing forensic analysis of damage to the cable—and any specialized equipment found on board—will be central to clarifying whether sabotage was intended.

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6. Wider Implications

1. Security and Deterrence: The Swedish seizure indicates Baltic nations are shifting from passive monitoring to proactive interdiction when they see signs of infrastructure tampering. This raises the deterrent for would-be saboteurs.
2. NATO Cohesion: Events like this underscore the importance of intelligence-sharing among NATO allies, rapid response units, and possibly new frameworks for joint maritime policing under missions like “Baltic Sentry.”
3. Hybrid Warfare Fears: Damaging critical infrastructure is a classic “hybrid” or “gray zone” tactic—covert enough to allow plausible deniability but impactful enough to disrupt or intimidate an adversary. This complicates direct attribution and can escalate tensions without open conflict.
4. Commercial Collaboration: The majority of undersea cable infrastructure is owned or co-owned by private telecommunications consortia. Governments, navies, and private companies must coordinate heavily to maintain real-time situational awareness of any anomalies along cable routes.

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In Summary

• Mounting Tensions in the Baltic: A series of undersea cable breaks in 2024 raised alarm among NATO members, prompting a stepped-up maritime security initiative often referred to as “Baltic Sentry.”
• Swedish Intervention: Swedish authorities’ recent action—seizing a vessel suspected of deliberate or negligent cable damage—signals a more assertive stance in protecting critical data links.
• Uncertain Attribution: While many Western analysts and officials suspect Russian involvement in these incidents, definitive public evidence remains limited. Official investigations and intelligence might clarify whether these are state-sponsored acts of sabotage or “accidents” that coincide suspiciously with geopolitical tensions.
• High Stakes: Given the immense strategic and economic value of undersea cables, protecting them has become a top priority for navies and governments worldwide—particularly in the Baltic, where tensions between NATO and Russia remain high.

To quote a famous movie line: 

"Release the Kraken"!

Overview of Kraken Robotics

1. Company Background

   • Founded: Kraken Robotics was established in 2012 by a team of ocean technology specialists led by CEO Karl Kenny.
   • Headquarters: The company is based in St. John’s, Newfoundland and Labrador (Canada), a region known for its ocean technology cluster and proximity to the North Atlantic.
   • Focus: Kraken specializes in the development of advanced sonar and laser imaging systems, subsea batteries, and autonomous underwater vehicles (AUVs) for both military and commercial applications.

2. Core Technologies and Products

   • Synthetic Aperture Sonar (SAS) Solutions
     
     
     
     • One of Kraken’s hallmark innovations is the AquaPix® family of Synthetic Aperture Sonar systems.
     • SAS technology provides extremely high-resolution imagery of the seabed at longer ranges than conventional side-scan sonar, enabling finer detection of small objects or anomalies.
     • This level of detail is critical for detecting tampering or damage to undersea cables, pipelines, or other subsea infrastructure.
   • KATFISH™ (Towed Undersea Vehicle)
     
     
     
     • The “Kraken Active Towed Fish” system is a high-speed towed sonar vehicle that can map large seafloor areas in real time.
     • KATFISH can be used by navies and coast guards to rapidly survey critical underwater assets (like cables and pipelines) to detect signs of sabotage, damage, or intrusions.
   • ThunderFish® (Autonomous Underwater Vehicle, AUV)
     
     
     
     • ThunderFish AUVs are modular, versatile platforms that can operate autonomously for extended durations.
     • Equipped with Kraken’s SAS sensors, ThunderFish can perform detailed inspection and mapping missions, including pipeline and cable route surveys.
   • Subsea Batteries & Power Systems
     • Kraken develops pressure-tolerant, lithium-polymer (Li-Po) batteries suitable for deep-sea operations.
     • Reliable, high-capacity power solutions enable longer-endurance missions for AUVs and ROVs (Remotely Operated Vehicles) engaged in infrastructure security.
   • Data Analytics & AI
     • The company also focuses on software solutions—applying AI and machine learning to automatically detect, classify, and even predict potential hazards or anomalies on the seafloor.

3. Applications in Protecting Undersea Cables and Pipelines

   • Inspection & Early Threat Detection
     • Kraken’s high-resolution sonar imagery can identify disruptions—such as shifts in the seabed, signs of external damage, or objects placed near cables—that might indicate sabotage or potential hazards.
     • These capabilities allow operators to respond proactively before small issues escalate into larger crises.
   • Regular Monitoring & Maintenance
     • By conducting periodic surveys using towed or autonomous vehicles, governments and private cable consortia can ensure real-time situational awareness of critical subsea infrastructure.
     • This continuous monitoring helps detect natural wear-and-tear or environmental factors (e.g., fishing nets, anchors) that commonly damage cables.
   • Post-Incident Investigation
     • In the event of a suspected sabotage or accident, Kraken’s sensors can provide forensic-level detail, aiding in attributing causes and improving defensive measures in the future.
   • Mine-Countermeasure (MCM) Cross-Over
     • Many of Kraken’s technologies, originally designed to detect naval mines, translate directly into undersea infrastructure protection—both involve detecting small, often concealed objects on or near the seabed.

4. Partnerships and Customers

   • Defense & Security: Kraken has collaborated with various NATO navies—including the Royal Canadian Navy and the U.S. Navy—on advanced sonar and unmanned systems. These relationships attest to the defense-grade robustness of Kraken’s solutions.
   • Commercial Sector: The company supports offshore energy firms (oil & gas, wind farms) with pipeline, cable, and seabed surveys.
   • Research & Innovation: Kraken often partners with academic institutions and research labs (e.g., Memorial University of Newfoundland) to enhance sensor technology and AI-driven analytics.

5. Notable Milestones

   • Contracts & Trials: Kraken has won multiple competitive contracts for delivering SAS technology and underwater vehicles to international naval forces, highlighting growing global demand for high-resolution seabed intelligence.
   • Acquisitions & Growth: In 2021, Kraken acquired PanGeo Subsea, a move that expanded their offerings into sub-bottom imaging—useful for detecting buried objects or evaluating seabed conditions that can threaten cables and pipelines.
   • Innovation Accolades: The company’s SAS systems have received recognition for redefining cost-effectiveness, resolution, and scalability in underwater surveying.

6. Strategic Relevance in Undersea Cable Protection

   • As countries recognize the vulnerability of undersea infrastructure—ranging from data cables to oil and gas pipelines—Kraken Robotics stands out for its advanced sonar imaging and autonomous platforms.
   • The ability to map the seabed in high detail—and to do so efficiently over large areas—creates a deterrent effect (making it harder for saboteurs to go undetected) and enables rapid response to any incident.

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Key Takeaways

• Cutting-Edge Sonar & Robotics: Kraken Robotics has built a reputation around Synthetic Aperture Sonar (SAS) and robust underwater vehicles, both essential to surveil and safeguard critical undersea assets.
• Detection & Prevention: Their technology allows defense and commercial operators to identify threats, perform routine maintenance, and investigate incidents with unprecedented clarity and efficiency.
• Global Demand: As geopolitical tensions and concerns about sub-sea sabotage grow, Kraken’s solutions continue to gain traction with navies, government agencies, and private consortia alike.

In sum, Kraken Robotics offers a full spectrum of tools—from advanced sonar sensors and autonomous vehicles to specialized analytics—that empower nations and industries to protect and monitor undersea cables, pipelines, and other maritime infrastructure!

Besides the Royal Canadian navy, Kraken has signed contracts with several other NATO Navies as well as infrastructure companies who lay and operate the cables and pipelines.

This technology addresses a rapidly rising need in modern security and commerce.

Ed Note:

Full disclosure: We bought Kraken Robotics shares today!

Update:

ST. JOHN’S, NEWFOUNDLAND, February 26, 2025 /GLOBE NEWSWIRE/ — Kraken Robotics Inc.(TSX-V: PNG, OTCQB: KRKNF) announces that it has received new orders totaling $34 million for SeaPower™ pressure tolerant batteries from three clients. In addition, Kraken has signed a lease to open a new battery production facility in Nova Scotia to meet rising defense market demand for uncrewed underwater vehicles (UUVs).

“With the emergence of new larger classes of UUVs and greater adoption of these platforms in naval fleets, reliable subsea power requirements are increasing,” said Greg Reid, President and CEO of Kraken Robotics. “These new orders illustrate the robust customer demand we have for Kraken’s SeaPower batteries across the U.S., Europe, and Asia Pacific.”

One order, totaling $31 million, represents Kraken’s largest battery order to date. The client, who cannot be named at this time, provides UUVs to the defense industry. Two commercial clients with UUVs also placed orders totaling $3 million

Further Update: June 24 2025

Did Desjardin just Release the Kraken? - Kraken Robotics Investment and Business Report (June 2025)