-- Kraken Robotics (PNG.V) has signed a Memorandum of Understanding (MOU) with SEFINE SISAM (Strategic Unmanned Systems Research Center) during the SAHA exposition in Turkiye, the company said on Wednesday.
As part of the agreement, the company will work with SISAM to integrate Kraken's KATFISH into its mission planning software and develop automatic target recognition (ATR) capabilities for Kraken Synthetic Aperture Sonar, added the company.
"We're pleased to continue our work with SEFINE following a successful at-sea demonstration earlier this year," said Bernard Mills, Executive Vice President of Defence at Kraken Robotics. "This partnership poises us to rapidly develop and deliver relevant capability in a region that combines industrial excellence and operational need. Together, we are advancing fully integrated, autonomous solutions for seabed warfare and mine countermeasures-enhancing the speed, accuracy, and efficiency of maritime security operations."
The company's shares were last seen up $0.13 at $7.20 on the TSX Venture Exchange.
Price: $7.21, Change: $+0.14, Percent Change: +1.98%