Kraken Robotics Receives $16 million Subsea Battery Order

Kraken Robotics Inc. announces that it has received a purchase order for subsea batteries valued at $16 million. Deliveries will occur in 2023 and 2024. The purchase order includes a significant advance payment.

With this order Kraken has now received more than $30 million of purchase orders in the last 6 months for its SeaPower® subsea batteries. Since the beginning of 2022, Kraken has announced more than $120 million of contracts providing us solid visibility for our strong growth trajectory we are on.

Kraken’s SeaPower® 6000-meter rated pressure tolerant batteries are based on Kraken’s unique pressure tolerant gel encapsulation technology for lithium polymer batteries. This provides an attractively priced, environmentally friendly, and superior energy density alternative to the traditional oil compensated batteries commonly used for deep subsea battery applications. Kraken’s hot swappable batteries are modular and include an integrated battery management system within each battery module which provides a very high level of redundancy and safety.