ST. JOHN’S, Newfoundland, April 10, 2019 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (TSX-V: PNG) (OTCQB: KRKNF) (“Kraken” or the “Company”) and Baltic Taucherei-und Bergungsbetrieb Rostock GmbH (“Baltic Diver”) are pleased to announce that they have finalized a Memorandum of Understanding (MOU) on a Strategic Alliance for maritime robotics technology, products, and services. In addition, Kraken and Baltic Diver will be jointly hosting a series of demonstrations in the Baltic region this summer on state-of-the-art 3D subsea digital inspection technology. 

Completion of Strategic Alliance MOU with Baltic Diver
Kraken and Baltic Diver have signed a MOU for maritime robotics technology, products, and services. The MOU establishes a collaborative arrangement, pursuant to which Kraken will become a strategic alliance partner with Baltic Diver. This may include the future supply of additional sensors, components, software, and systems as well as R&D and innovation support in areas such as data analytics and machine learning. Over time, the companies may enter into a series of project-specific agreements to engage in innovative development and other commercialization activities.

Advanced Subsea 3D Inspection Technology to be Demonstrated in the Baltic Sea Region
As part of the strategic alliance, Kraken and Baltic Diver are planning to deploy 3D digital inspection capable assets in the Baltic Region this summer. These assets will consist of a support ship, a Seatronic Valor ROV and Kraken's award winning SeaVision® 3D underwater laser imaging system. These assets provide cost-efficient access to new data, such as high-density 3D point cloud models and high-dynamic range photography, which is starting to revolutionize how subsea digital asset inspection can be performed. This alliance intends to continuously push the boundaries of AI-driven digital inspection and analytics to support the growth of the Baltic Sea Economic Region, especially the needs of the offshore wind industry for high volume recurring maintenance inspections.  

Karl Kenny, Kraken's President & CEO said, "Kraken's manufacturing facilities in Rostock designs, builds and sells pressure tolerant thrusters, batteries and electronics systems for the marine market. We are pleased to extend Kraken's presence in Rostock through our partnership with Baltic Diver, enabling us to offer our entire sensor and systems technology and product portfolio in the Baltic Sea Region. Baltic Diver is a world class company and we look forward to expanding revenue opportunities and market growth in their areas of underwater expertise.”  

“We are excited to partner with Kraken and be able to offer our customers leading edge technologies and products for subsea asset inspection,” said Eyk-Uwe Pap, CEO of Baltic Diver. “Presently, we are aligning our subsea services towards ROV based systems and we are glad to be able to test and evaluate new technology together with our partner Kraken. Our new ROV will be able to maintain its position (horizontal and vertical) in 2.5 knots current and will provide a perfect base for the testing of new equipment. Our team of experienced and highly motivated engineers, technicians, divers and backoffice staff at our quayside premises at Rostock with workshops, cranes, office and storage facilities is looking forward to a longterm cooperation with Kraken. We are especially pleased about the development of the official Offshore Test Area (“OTC”) close to the coast near Rostock which will grant extensive opportunities for testing new subsea technology together with Kraken.”

Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine technology company 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; Toronto, Ontario; Bremen and Rostock Germany; and Boston, Massachusetts. Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter. For more information, please visit,, Find us on social media on Twitter (@krakenrobotics), Facebook (@krakenroboticsinc) and LinkedIn.

Baltic Diver is a reputable maritime service provider with more than 25 years of experience with international and challenging offshore projects in 30 countries. Baltic Diver offers a wide range of services including: national and international commercial diving works; diving in contaminated waters; explosive ordnance disposal; salvage service, oil spill removal; hydraulic engineering and coastal protection; sea cable laying and recovery; vessel service and repair; personnel service, e.g. captains, rigger, rope access technicians, hydrographic surveyor; ROV and sonar operations. For more information, please visit  

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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For further information, please contact:

Greg Reid, Chief Financial Officer
(416) 818-9822

Sean Peasgood, Investor Relations
(647) 955-1274

Glenda Leyte, Marketing Manager
(709) 757-5757 extension 288