Kraken Robotics, a leading firm in offshore energy surveys, has played a pivotal role in supporting Taiwan's energy transition by facilitating the installation of over 1.8GW of green energy. Since initiating its first seabed survey project in Taiwan three years ago, Kraken has utilized its cutting-edge 3D acoustic Sub-Bottom Imager to contribute significantly to the renewable energy sector.
With a remarkable track record spanning over a decade and extensive experience in high-resolution seabed surveys exceeding 30,000 kilometers, Kraken has collaborated with prominent offshore developers and contractors like Ørsted, Scottish Power Renewables, RWE, and Equinor, among others. Initially focused on projects in Europe, Kraken has expanded its operations to the US and Asia Pacific regions, including Australia and Taiwan.
Taiwan, with a target of generating 5.6GW of green energy by 2025, has benefitted from Kraken's expertise in cable installation projects since 2021. The company has been instrumental in providing cable burial assessments and identifying areas requiring trenching remediation. Kraken's SBI technology has emerged as a preferred cable assessment survey sensor for regional projects, ensuring the secure burial of cables to shield them from vessel traffic and mobile seabed sediments.
By achieving the milestone of supporting 1.8GW of offshore wind development in Taiwan early in 2024, Kraken has proven its instrumental role in advancing the country's renewable energy goals. Collaborating with companies like Motive Offshore, Kraken has maintained SBI units in Taiwan, facilitating efficient storage and maintenance when not in use offshore.
Looking ahead, Kraken's projected support for a total of 3GW in 2025 signifies a significant contribution to Taiwan's energy landscape, representing over 50% of the installed capacity in the region. As wind farms transition from construction to operational phases, the need for periodic cable inspections will present future market opportunities, further solidifying Kraken's position as a key player in the sustainable energy sector.
Kraken's Sub-Bottom Imager technology, incorporating state-of-the-art beamforming SAS arrays, offers real-time 3D visualization of the sub-seabed. This innovative technology enables the identification of buried objects, geohazards, and stratigraphy, with applications ranging from depth of burial assessments to decommissioning surveys, ensuring the efficient and safe operation of offshore energy projects.
TSX-VL: PNG
Price: C$1.02
Change: + 0.06 (6.25%)
The stock has shown a positive trend with a 5.15% increase in the last 5 days, a notable 67.21% increase over the past 6 months, and a remarkable 106.06% rise over the last year. Based on technical analysis models, Kraken Robotics Inc.'s stock is displaying an uptrend, indicating a positive trajectory in the market. The stock's moving averages and MACD signals suggest strong support levels, reinforcing the bullish sentiment. Additionally, Fibonacci analysis and Bollinger Bands indicate favorable conditions for potential price movements, highlighting the stock's resilience and potential for further growth in the near term.
