Kraken Robotics just closed a C$615 million acquisition of the Covelya Group on July 2, and the deal is already reshaping its bottom line. The Canadian marine technology company announced $35 million in new product orders from maritime defense, offshore energy, and ocean science customers, bringing its combined 2026 total to $327 million.
The orders span navigation and positioning systems, multi-aperture sonar, and monitoring equipment from Covelya, plus Synthetic Aperture Sonar (SAS) and SeaPower batteries from Kraken. CEO Greg Reid said the company expects its product portfolio to represent over 75% of consolidated revenue this year.
"Our product portfolio forms the backbone of a wide range of platforms used across both defence and commercial applications," Reid said. Those platforms include crewed ships and submarines as well as autonomous underwater vehicles (AUVs), uncrewed surface vessels (USVs), and remotely operated vehicles.
Kraken's technologies are also deployed in unattended seafloor sensors. The defense pipeline is the primary growth driver. Kraken's Sentinel Intruder Detection Sonar systems, which detect and track subsea threats at critical infrastructure sites, saw increased orders this year from customers in the Middle East and Europe.
Its KATFISH remotely operated towed vehicle, used for mine countermeasures and underwater infrastructure monitoring, has expanded into the Asia Pacific region. The company expects those programs to be awarded starting in the second half of 2026.
SeaPower subsea batteries are pulling in multiple new defense customers across North America, the U.K., Europe, and Asia Pacific. Kraken said several AUV customers have switched from alternative battery suppliers, reflecting both market-share gains and expanding adoption.
Customers now range from early-stage prototype programs to full-scale commercial production. On the offshore energy side, Kraken's technology is moving into carbon capture and storage.
This summer. The company will begin environmental baseline monitoring for the Northern Endurance Partnership at the U.K.'s first offshore CCS site.
Autonomous seabed monitoring landers placed above and around the Endurance storage site will help verify that captured CO2 remains safely contained underground, using Sonardyne's acoustic Doppler current profiler technology alongside passive seismic monitoring.
Sonardyne's On Demand Ocean Bottom Nodes, developed with major oil and gas producers in Brazil since 2018, began qualification for commercial use in early 2026 at the Petrobras-operated Mero field offshore Brazil. The technology is expected to move into full commercial production in 2027.
Kraken's products are now integrated across more than 30 AUV platforms worldwide. The Covelya acquisition, which brought together Sonardyne, EIVA, Forcys, Voyis, and Chelsea Technologies under one roof, has given the company a product portfolio spanning sonar, navigation, positioning, imaging, power, communications, monitoring, and data analytics.
With $327 million in combined orders already on the books and a defense pipeline stretching from the Middle East to Asia Pacific, Kraken's post-acquisition momentum is measurable. The next test comes when those KATFISH and IDS programs move from pipeline to contract awards later this year.
