Kraken in CAD 400K Defence Deal
- Business & Finance
Kraken Sonar Systems has invoiced a major European defense contractor for over CAD 400,000.
Proceeds are expected to be received during Q2 2016.
The company was unable to disclose the customer at this time, reportedly, due to competitive reasons.
Kraken recently provided an AquaPix Miniature Interferometric Synthetic Aperture Sonar (MINSAS) for integration and sea trials on the customer’s AUV.
MINSAS is designed for operational depths up to 6,000 meters.
Karl Kenny, Kraken president and CEO, said: “Navies around the world rely upon their suppliers to provide the best underwater systems and more defense contractors are depending upon Kraken to provide innovative underwater technology solutions. We look forward to working with this customer in the future.”