Kraken Announces $3 Million of Government of Canada Funding for ThunderFish® XL Development

Source - MicroSmallCap

ST. JOHN’S, Newfoundland, Aug. 31, 2020 (GLOBE NEWSWIRE) — Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean Company, is pleased to announce that it will receive a $2,909,891 non-refundable financial contribution from the National Research Council of Canada’s Industrial Research Assistance Program (NRC-IRAP). The funding will be received over a 26-month project period and will be used to support the development of Kraken’s seabed resident ThunderFish® XL Autonomous Underwater Vehicle (TFXL AUV).

Building from the previous development efforts of the ThunderFish® Alpha AUV, the ThunderFish® XL AUV will be larger and with an increased depth rating, have ...

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