SOURCE: Kraken Sonar Inc.

Kraken Sonar Inc.

March 29, 2017 07:00 ET

Kraken to Supply AquaPix® MINSAS for Riptide's Compact Unmanned Underwater Vehicles

ST. JOHN'S, NL--(Marketwired - March 29, 2017) - Kraken Sonar Inc. (Kraken) (TSX VENTURE: PNG) announced today that its wholly-owned subsidiary, Kraken Sonar Systems Inc. has teamed with Boston-based Riptide Autonomous Solutions (Riptide) to supply AquaPix® MINSAS for integration onboard Riptide's new 2-Man Portable UUV platform.

Riptide has developed a highly flexible, open source family of autonomous undersea vehicles that provide users a state-of-the-art, low cost development solution ideally suited for developers of autonomy and behaviors, power systems, subsea sensors and new payloads. The vehicles feature open hardware and software interfaces to provide users a reliable and robust platform to advance technology development. The vehicle designs leverage their initial product offering, the Micro-UUV, which is optimized for high efficiency with the best hydrodynamic signature in its class combined with high efficiency low power processing.

AquaPix® MINSAS is based upon Kraken's core Synthetic Aperture Sonar technology. The MINSAS compact receiver array length of only 60cm provides high resolution 3cm x 3cm imagery at ranges up to 120m per side. The lightweight array is integrated into a modular payload section of less than eight-inch diameter, which can be easily mobilized with Riptide's 2-Man Portable UUV.

The MINSAS payload section also includes Kraken's latest generation Real Time SAS Processor, the RTSAS MK-II. The RTSAS enables real-time, onboard processing of SAS imagery and bathymetry, and allows operators to leverage Kraken's suite of post-processing tools, including the newly developed SASView 3D visualization and control software. The MINSAS plus RTSAS provides operators with an area coverage rate of 1km2 per hour at full SAS resolution, enabling highly efficient survey operations.

Jeff Smith, Riptide's Founder and President said, "We are pleased to further our relationship with Kraken -- a world leader in Synthetic Aperture Sonar technology. Integrating the AquaPix® MINSAS onboard our vehicles will provide our customers with the world's most cost-effective underwater platform for seabed imagery, mapping and surveillance."

Karl Kenny, Kraken President and CEO said, "We are happy to announce this partnership with Riptide, which is an ideal partner for Kraken to be at the forefront of technological innovation in affordable underwater robotics. In a short period, Jeff has built a great team and fielded a highly capable UUV at a very affordable cost point. We expect that the expanding Riptide product line will continue to quickly evolve, enabling end users to rapidly develop and demonstrate new applications in this growing market."

Riptide will be showcasing their family of vehicles and the MINSAS at Booth 1253 at the Sea Air Space conference to be held April 03-05, 2017 in National Harbor, Maryland.

ABOUT RIPTIDE

Riptide Autonomous Solutions is a small business focused on Unmanned Maritime Vehicle (UMV) development and production. Riptide's flagship product is the Micro-UUV, a highly flexible, open source autonomous undersea vehicle that provides a state-of-the-art, low cost solution for operators and developers of UMVs. For more information, please contact Jeff Smith, President of Riptide at 617-820-4586 or Info@RiptideAS.com

ABOUT KRAKEN

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. 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.

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