Kraken Robotics Announces $24 Million in Defence Orders

ST. JOHN’S, Newfoundland and Labrador, March 17, 2026 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (“Kraken” or the “Company”) (TSX-V: PNG, OTCQB: KRKNF) announces approximately $24 million in new orders to over 10 customers across five countries, including three new defence customers. The orders are for Kraken’s SeaPower batteries, KATFISH towed synthetic aperture sonar (SAS), and Kraken SAS.

“SeaPower battery sales continue to be strong, with several new clients further diversifying our customer base in this area of the business. Manufacturing of our batteries in our new Nova Scotia facility is coming online in the next month, significantly expanding our production capacity” said Greg Reid, President and CEO of Kraken Robotics. “We are also pleased to share that we have sold a new KATFISH to the Polish Navy for their minehunting program and SAS to multiple defence customers for their autonomous underwater vehicle (AUV) platforms.”

The Polish Navy first selected KATFISH in 2020 for deployment on its Kormoran II-class minehunting vessels to support mine countermeasure operations in complex shallow water environments. This latest order was placed through Thesta, Kraken’s partner in Poland, which was appointed an authorized reseller of KATFISH during last week’s Oceanology International exhibition.

Figure 1: Kraken Robotics Announces $24 Million in Defence Orders

ABOUT KRAKEN ROBOTICS INC.
Kraken Robotics Inc. is transforming subsea intelligence through 3D imaging sensors, power solutions, and robotic systems. Our products and services enable clients to overcome the challenges in our oceans – safely, efficiently, and sustainably.

Kraken’s synthetic aperture sonar, sub-bottom imaging, and LiDAR systems offer best-in-class resolution, providing critical insights into ocean safety, infrastructure, and geology. Our revolutionary pressure tolerant batteries deliver high energy density power for UUVs and subsea energy storage.

Kraken Robotics is headquartered in Canada with offices in North America, South America, and Europe, supporting clients in more than 30 countries worldwide.

On March 3, 2026, Kraken announced the acquisition of Covelya Group Limited (the “Acquisition”), a leading international provider of mission-critical underwater technology solutions operating through its subsidiary companies: Sonardyne International Ltd., EIVA A/S, Forcys Ltd., Wavefront Systems Ltd., Voyis Imaging Inc., and Chelsea Technologies Ltd. The Acquisition is expected to close during the second quarter of 2026, subject to the satisfaction of customary conditions and regulatory approvals.

LINKS:
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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, and the OTCQB has neither approved nor disapproved the contents of this press release.

For further information:

Erica Hasenfus, Director of Global Marketing
erica.hasenfus@krakenrobotics.com

Shant Madian, Director of Capital Markets
shant.madian@krakenrobotics.com

Kraken Robotics Inc.
+1 709-757-5757
investors@krakenrobotics.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a8a5714b-4392-4c7b-ac1d-0af1e092aa7e