Kraken Closes Equity Financing with Ocean Infinity

Kraken Robotics has closed the non-brokered private placement offering with Ocean Infinity for aggregate gross proceeds of $2.3 million.

“Kraken is very pleased to have completed this financing with our customer Ocean Infinity,” said Karl Kenny, Kraken’s president and CEO. “The financing strengthens our balance sheet with a patient investor and supportive customer and validates our strategic efforts to build a vertically integrated offering of sensors, software and systems for the underwater robotics market. We will continue to work with Ocean Infinity to help provide its customers an efficient, differentiated service offering, leveraging a variety of products and services developed by Kraken.”

The Offering was comprised of 11,520,000 units at a purchase price of $0.20 per unit.

According to Kraken, all proceeds raised from the sale of the units will be used by the company to build inventory and general corporate and working capital purposes.

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6th Offshore Well Intervention Conference Gulf of Mexico

The Offshore Well Intervention Gulf of Mexico conference (OWI GOM) is returning to Houston, Texas for its sixth year on Wednesday 20 – Thursday 21 November.

Featuring Anadarko, BP, Shell, Chevron, BHGE and Oceaneering, the conference aims to help operators transition to the latest compliance updates, WI systems and business models that enhance safety, quicken well access and improve commerciality.

Across two days, more than 200 delegates, 15 exhibitors and 30 speakers will network together and create solutions to some of the most pertinent industry challenges right now, through a conference programme focused on:

  1. Clarifying compliance updates
  2. Quicker well access and safer well control
  3. ​Understanding HPHT well intervention (systems)
  4. Forecasting well intervention activity, discussing new commercial models and comparing platform options
  5. Best practice riserless well intervention
  6. ​The latest well intervention equipment

For registration, speaking or sponsorship enquiries contact Abigail Clifton on aclifton@offsnet.com; +44 (0) 203 793 8800.

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Europort 2019

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