Kraken Robotics Secures $28 Million in New Subsea Battery and Sonar Orders

Kraken Robotics Systems Inc ( (TSE:PNG) ) has issued an announcement.

Kraken Robotics Inc., a Canadian-based subsea technology company, provides 3D imaging sensors, synthetic aperture sonar, sub-bottom imaging, LiDAR, and pressure-tolerant batteries for uncrewed underwater vehicles and subsea energy storage. It supports defence, energy, and marine infrastructure customers in more than 30 countries from offices across the Americas and Europe, and is pursuing further scale via the planned acquisition of underwater technology group Covelya.

Kraken announced approximately $28 million in new orders for its SeaPower batteries and synthetic aperture sonar from five clients, including three major international defence companies and a new commercial uncrewed underwater vehicle manufacturer. The deals, which extend Kraken’s integration into more than 30 UUV platform types globally, reinforce its growing position in the defence and commercial UUV markets and underscore rising demand for high-performance subsea power and imaging systems.

The company’s recent order momentum comes alongside its pending acquisition of Covelya Group Limited, a transaction expected to close in the second quarter of 2026 subject to customary conditions and approvals. Together, the new contracts and the planned acquisition signal an acceleration of Kraken’s strategy to build a broader, mission-critical underwater technology platform with deeper penetration across global subsea markets.

The most recent analyst rating on (TSE:PNG) stock is a Buy with a C$13.00 price target. To see the full list of analyst forecasts on Kraken Robotics Systems Inc stock, see the TSE:PNG Stock Forecast page.

Spark’s Take on PNG Stock

According to Spark, TipRanks’ AI Analyst, PNG is a Neutral.

The score is primarily supported by strong revenue growth, healthy profitability, and a conservatively leveraged balance sheet, but is held back by negative operating/free cash flow and a very high P/E valuation. Technically, the trend is bullish, yet overbought momentum signals increase near-term downside risk.

To see Spark’s full report on PNG stock, click here.

More about Kraken Robotics Systems Inc

Kraken Robotics Inc. is a Canada-headquartered provider of subsea intelligence technologies, specializing in 3D imaging sensors, synthetic aperture sonar, sub-bottom imaging, LiDAR systems, and pressure-tolerant batteries for uncrewed underwater vehicles and subsea energy storage. The company serves defence, energy, and maritime infrastructure customers across more than 30 countries, with offices in North America, South America, and Europe.

Its solutions are designed to enhance ocean safety, infrastructure monitoring, and geological analysis by delivering high-resolution imaging and high energy density power systems for underwater operations. Kraken is also expanding its footprint in mission-critical underwater technology through the planned acquisition of Covelya Group Limited and its portfolio of specialist subsea technology subsidiaries.

Average Trading Volume: 1,841,939

Technical Sentiment Signal: Buy

Current Market Cap: C$2.59B

For detailed information about PNG stock, go to TipRanks’ Stock Analysis page.