08:14 AM EDT, 09/23/2024 (MT Newswires) -- Kraken Robotics ( KRKNF ) on Monday said it has received orders from three customers totaling $3 million for Miniature Synthetic Aperture Sonar (MINSAS) systems.

"In the current geopolitical environment, we are seeing an increased need for synthetic aperture sonar systems to be used in mine countermeasure operations," said Kraken President and Chief Executive Greg Reid. "We're increasing our inventory to be able to more quickly respond to this need, enabling navies worldwide to collect critical data for accurate and efficient decision-making."

On Friday, Kraken closed at $1.73, a 52-week high.