SOURCE: Kraken Sonar Inc.

Kraken Sonar Inc.

March 15, 2016 06:00 ET

Kraken Awarded Contract by Woods Hole Oceanographic Institution

Kraken's 6000m AquaPix® MINSAS Sonar to be Integrated Into WHOI's Deep Sea Autonomous Underwater Vehicle program

ST. JOHN'S, NL--(Marketwired - March 15, 2016) - Kraken Sonar Inc. (TSX VENTURE: PNG) announced today that its wholly-owned subsidiary, Kraken Sonar Systems Inc. has been awarded a US$465,000 contract by the Woods Hole Oceanographic Institution (WHOI). Kraken has been contracted to deliver a deep-sea rated AquaPix® Miniature Interferometric Synthetic Aperture Sonar, a Real Time Embedded SAS Signal Processor and related engineering services. Delivery of the system is planned for July 2016.

Karl Kenny, Kraken's President and CEO, said, "We're delighted to broaden our relationship with WHOI. AUV's are the ultimate choice of instrument platform for deep sea and remote surveys, and our high resolution Synthetic Aperture Sonar will add significant value to this project. Placing survey sensors such as Kraken's AquaPix® MINSAS onboard an AUV means that measurements take place close to the seafloor, dramatically improving data resolution and accuracy. This is another validation of our technology by a leading engineering research institution."

Robotic systems promise to open the ocean to humans in new ways. Recent advances in robotic technology hold vast potential to improve or expand exploration, monitoring and intervention from coastal waters to full ocean depth. The scientists and engineers at the Woods Hole Oceanographic Institution have helped shape knowledge about the ocean for more than 80 years. Today, WHOI is a recognized leader in the research, development, and deployment of robotic systems technologies that have proven their value in a range of applications, including deep-ocean survey and sampling of marine chemistry, geology and biology.

Scientific exploration of the deep sea has traditionally been performed using inhabited submersibles, towed vehicles and tethered Remotely Operated Vehicles (ROVs). Autonomous Underwater Vehicles (AUVs) have begun to replace these vehicles for mapping and survey missions. AUVs are particularly well suited to advanced sonar surveys in rugged deep sea terrain. AUVs complement the capabilities of existing systems, offering superior mapping capabilities, improved logistics and better utilization of the surface support vessel. In comparison to towed systems, the tight turning circle provided by AUVs significantly reduces the time to change between survey lines. Compared to an ROV, the AUV operates without an umbilical tether and is able to move faster and more quietly, collecting data with a very high signal-to-noise ratio. The survey is completed sooner and the mapping results are much more accurate.

ABOUT WOODS HOLE OCEANOGRAPHIC INSTITUTION

The Woods Hole Oceanographic Institution is a private, non-profit organization on Cape Cod, Massachusetts, dedicated to marine research, engineering, and higher education. Established in 1930 on a recommendation from the National Academy of Sciences, its primary mission is to understand the ocean and its interaction with the Earth as a whole, and to communicate a basic understanding of the ocean's role in the changing global environment. For more information, please visit www.whoi.edu

ABOUT KRAKEN SONAR INC.

Kraken Sonar Inc. (TSX VENTURE: PNG) is an industrial technology company, founded in 2012, that is dedicated to the production and sale of software-centric Synthetic Aperture Sonar (SAS), acoustic sensors and underwater systems. The Company's products are sold to leading defence contractors, commercial survey companies and research institutions for producing real-time, ultra-high resolution imagery and bathymetry of the seabed. For more information, please visit www.krakensonar.com

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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