Kraken Robotics' (OTCMKTS: KRKNF) stock price is up more than 1000% since 2023 and is gaining momentum for several reasons, suggesting the rally is far from over. Its deep-sea technology is in increasing demand across several sectors, including defense and exploration. Defense is significant because spending is accelerating globally, undersea and naval defense is central to security efforts, and the contracts are usually long-term, providing ample visibility into operational quality. On the other hand, exploration is an untapped gold mine that could be worth several trillions in industry revenue.
An estimated 80% of the world’s oceans remain unexplored and unobserved, with deep-sea regions at nearly 100%. The forecasts vary, but undersea mineral and resource values run in the $40 trillion to hundreds of trillions range. They will only be discoverable and accessible using undersea technologies such as those produced by Kraken Robotics. Its business ranges from undersea detection, including sonar and mapping technologies, to batteries for submersible robots, manned vehicles, and robotics-as-a-service. The RaaS business focuses on data capture and inspection for businesses, organizations, and governments, but is expanding through development and acquisitions.
