Design Engineering

Kraken Robotics dominates TSX Top 50 List

By DE Staff   

Automation Machine Building

Newfoundland-based underwater robotic firm honoured as out-performer in tech category.

Kraken Robotics’ ThunderFish Alpha, a Hovering Autonomous Underwater Vehicle that can descend to 6,000 meters, is just one the company’s innovations, which includes high resolution sonar and deep water battery systems.

Kraken Robotics Inc. announce that the Toronto Venture Stock Exchange has recognized the Newfoundland-based underwater robotics company as a 2019 Top 50 Company. In fact, Kraken placed first in the technology category. The TSX Venture 50 is a ranking of the strongest companies on TSX Venture Exchange by share price appreciation, trading volume amount, and market capitalization growth.

“We are honored to be recognized as a Top 50 company within the Toronto Venture Stock Exchange,” said Karl Kenny, President and CEO of Kraken. “This validates the hard work Kraken and our employees have done since first listing on the Venture Exchange in 2015. Building upon our recent $1.7 million contract with Ocean Infinity, $0.5 million Public Works and Procurement Canada contract, and the $6 million bought deal that we closed in December, we look forward to bringing more success to our company and shareholders as we continue our strong growth in 2019.”

In addition to Kraken Robotics’ headquarters in St. John’s, Newfoundland, the company also has offices in Dartmouth, Toronto, Bremen and Rostock, Germany; and Boston, Massachusetts. Kraken is also ranked as a Top 100 marine technology company by Marine Technology Reporter.



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