Offshore Energy Industry Executive Joins Kraken as Strategic Advisor
ST. JOHN’S, Newfoundland, Aug. 12, 2020 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean Company, is pleased to announce that Sam Allen has joined Kraken as a
Strategic Advisor. Sam will help the Company refine its strategy for the international offshore energy market with a focus on landing additional pilot projects and converting pilot projects to
longer-term recurring revenue contracts. This may include collaboration with additional industry partners as well as M&A activity.
Mr. Allen is the former President of Technip Canada from inception in 1997 to 2012. During that time, Technip Canada grew to be the pre-eminent subsea construction company in Canada. Technip Canada focused on marine engineering and installations such as risers, flowlines, umbilicals, and mooring chains and became a Centre of Excellence in several areas including dynamic riser analysis. Following Canada, Sam moved to Perth, Australia where he headed up Technip Oceania (750 people and multiple world class multi-year projects). Following his Perth assignment, he assumed as role as Project Director for a very large integrated subsea to onshore facility project in Indonesia. Sam delivered a very successful project before retiring from Technip in 2018.
CEO Comments
“Kraken has developed industry leading underwater data acquisition and analytic tools that can provide ultra-high definition images of subsea assets and infrastructure,” said Karl Kenny, Kraken
President & CEO. “Our challenge now is to apply Artificial Intelligence to analyze the data and to monitor the change in subsea assets over time to be able to predict the state of these assets
into the future (i.e. predictive analytics). We continue to refine our tools and processes through lessons learned on our OceanVision pilot project as well as numerous other pilot projects we have
completed for a variety of customers (military, offshore energy, ocean science, etc.). We look forward to leveraging Sam’s experience and relationships to generate significant growth for our
robotic services and data business.”
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Sam Allen Comments
“With more than 30 years of experience in the offshore energy industry, I have first-hand experience in the power of underwater robotics which to date has mainly consisted of using remotely
operated vehicles for inspection and manipulation of subsea assets,” said Sam Allen. “I expect the utilization of autonomous systems and robotics in the offshore energy market to grow significantly
over the coming years as companies invest in new projects and extending the life cycle of legacy assets through the use of high-quality data acquisition sensors, machine learning and
predictive analytics. With a strong portfolio of ultra-high definition imaging data acquisition and analytic tools, Kraken has the potential to build a significant recurring revenue business.”