ST. JOHN'S, NL and BREMEN, GERMANY--(Marketwired - April 06, 2017) - Kraken Sonar Inc. (Kraken) (TSX VENTURE: PNG) announced today that its subsidiary, Kraken Robotik GmbH in Bremen, Germany, has recently been awarded a contract to design and build a 6,000m rated 3D laser/optical imaging system for the prestigious Alfred Wegener Institute, Helmholtz Centre for Polar and Marine Research (AWI) in Bremerhaven. Delivery is scheduled for June 2017.
The 3D smart camera system will be based on Kraken's recently announced SeaVision™ technology, but custom engineered and adapted to operate over extended periods under harsh deep-sea conditions. SeaVision™ is the world's first RGB underwater laser imaging system that offers the resolution, range and scan rate to deliver dense full colour 3D point cloud images of subsea infrastructure with millimetre accuracy in real time.
Dr. Jakob Schwendner, Managing Director of Kraken Robotik GmbH said, "This customized version of our SeaVision™ system offers compelling advantages for scientific applications both as an instrument as well as a sensor to support the safe operation of carrier systems. Compared to classical video survey methods, the resulting point cloud data can be used to quantitatively measure and compare biological and geological targets in unprecedented detail. As the data is generated in real-time, it can also be used as a navigation and obstacle avoidance sensor for autonomous systems, enabling automated data collection in difficult underwater scenarios."
ABOUT ALFRED WEGENER INSTITUTE
Founded in 1980, and with over 1,000 employees, the Alfred Wegener Institute is one of the very few scientific institutions in the world that are equally active in the Arctic and Antarctic. As an internationally respected centre of expertise on polar and marine research, it coordinates German polar research efforts, while also conducting research in the North Sea and adjacent coastal regions in Germany. Combining innovative approaches, outstanding research infrastructure and years of expertise, the Alfred Wegener Institute explores nearly all aspects of the Earth system -- from the atmosphere to the ocean floor.
ABOUT KRAKEN SONAR INC.
Kraken Sonar Inc. (TSX VENTURE: PNG) is a marine technology company, founded in 2012, that is dedicated to the production and sale of software-centric sensors and underwater robotic systems. The company is headquartered in St. John's, Newfoundland with offices in Dartmouth, Nova Scotia; Bremen, Germany; and Fairfax, Virginia. For more information, please visit www.krakensonar.com.
Certain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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.