Investment helps Kraken Technology Group to develop precision engagement craft
Computer-generated image of the K50 craft. (Image: KTG)
New investment will help UK-based KTG to set up a manufacturing facility for its K50 fast interceptor.
UK-based Kraken Technology Group (KTG) has raised further funding to support the development of its Kraken K50 precision engagement craft.
KTG CEO Mal Crease stated on 19 April that the new investment will allow the company to establish a dedicated UK manufacturing facility to ‘revolutionise the maritime composite design and integration process, specifically to meet increasingly localised manufacturing and assembly requirements’.
KTG also expects to participate in a priced investment round later in 2022.
With a top speed beyond 65kt, the K50 is designed specifically to meet the growing global requirement for fast-response precision engagement, coastal interdiction and the protection of critical offshore infrastructure.
The optional use of advanced electric powertrain technology on the K50 is intended to extend key range and performance parameters, all housed within a unique composite design and structure.
A range of integrated modular systems and sensors on the K50 would deliver ‘uniquely semi-autonomous operational and offensive capabilities’ to defeat swarming threats, KTG added.
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