© yuri arcurs dreamstime.com Electronics Production | December 15, 2018
Kraken secures battery order and $5M advance payments
Ocean Infinity has issued a USD 6.5 million purchase order to Kraken Robotic Systems Inc. for deep sea batteries. Kraken anticipates follow-on orders
Under a USD 9 million deep-sea battery contract (which the company announced on August 1, 2018), Ocean Infinity issued an initial USD 2.5 million purchase order with the next USD 6.5 million purchase order expected in Q1 2019. Ocean Infinity has accelerated the delivery schedule, with all battery shipments now planned to start at the end of 2018 and finishing in Q3 2019, a press release states. This is an acceleration of approximately six months from the previous schedule. In order to help facilitate the delivery schedule and Kraken’s working capital requirements as it scales battery production, Kraken will invoice Ocean Infinity in November and January for advance payments of approximately USD 5 million. Oliver Plunkett, Ocean Infinity President & CEO, said, “At Ocean Infinity, we own and operate the world’s most technologically advanced seabed data acquisition assets, capable of operating to extreme depths of up to 6,000 metres. In our drive to add value for our clients we are constantly striving to push the boundaries of what can be achieved with technology. Maximising underwater endurance is a critical aspect of our operational model. Using Kraken’s pressure tolerant gel encapsulation battery technology, we can increase our energy capacity by over 50% in the same physical form factor as our existing conventional batteries. From an operational perspective, this gives us considerable flexibility to optimise mission plans, increase area coverage, manage weather impact and ultimately increase value for our customersin even the most remote portions of the world’s oceans.” Karl Kenny, Kraken’s President and CEO, adds, “Kraken Power’s unique pressure tolerant gel encapsulation technology for lithium polymer batteries provides an attractively priced, eco-friendly and superior alternative to oil compensated batteries currently used for subsea battery applications. We are very pleased to support Ocean Infinity’s AUV fleet battery upgrade. In simple terms, within the existing battery compartment footprint, our drop-in, field swappable batteries allow Ocean Infinity’s AUVs to increase underwater mission time from 50-55 hours to 80-85 hours.” Kraken will deliver batteries for five new Kongsberg Hugin Autonomous Underwater Vehicles (AUVs) recently purchased by Ocean Infinity, for integration at the manufacturer’s facility in Norway. With the change in scheduling, these new vehicles will take some of the delivery slots initially intended for replacement of existing AUV fleet batteries. As such, Kraken expects a follow-on order from Ocean Infinity in the second half of 2019 for additional batteries and spares, beyond the initial USD 9 million contract. The batteries for Ocean Infinity will be built by Kraken Power GmbH, an entity in which Kraken currently holds a 19.9% interest. Kraken intends to increase its ownership position in Kraken Power to 75% by the end of 2018.
COVID-19 limits viability for AT&S Considering current events and the effects that the global pandemic is having on logistics and production chains worldwide, AT&S is preparing itself for a decline in demand in some of its customer segments.
Neways provides update on COVID-19 impact The EMS provider says it has taken various measures to limit the risks to the health of its employees, as well as its clients and suppliers. In addition, the company has taken measures to safeguard business continuity.
Samsung Display plans to stop all LCD production in 2020 The South Korean company has reached the decision to end all of its production of LCD panels in its home country and in China by the end of 2020.
Orbit One updates machine park with new selective soldering machine Swedish EMS provider, Orbit One, has invested in a new ERSA selective soldering machine for the production unit in Ronneby, Sweden.
ZOLL pivots to focus on volume for ventilator production Massachusetts-based ZOLL Medical Corporation has shot capacity up to 10,000 ventilators per month in response to the COVID-19 pandemic, representing a nearly 25-fold increase from normal volume production.
Computrol ramps output for ventilator production As the coronavirus pandemic continues its spread through the U.S., Idaho-based Computrol is joining a growing list of electronics manufacturers who are adjusting operations to support companies producing critical healthcare products.
ABB adding jobs, new distribution center in Arizona ABB has announced the creation of a new distribution center in Phoenix, in a move that will bring the company closer to Western U.S. distributors, contractors, industrial customers, and retailers.
8% growth in 2019 drives tenth consecutive year of EDA growth The Electronic System Design (ESD) Alliance Market Statistics Service (MSS) says that the Electronic Design Automation (EDA) industry revenue increased 2.2% for Q4 2019 to USD 2626.3 million, compared to USD 2570.1 million in Q4 2018.
Polestar 2 production begins in Luqiao, China Production of Polestar 2 has officially begun in Luqiao, China. The new electric performance fastback is the first electric vehicle to be produced by the facility.
Kimball Electronics updates on the impact of COVID-19 COVID-19 has disrupted the company’s global operations since its initial outbreak. While Kimball Electronics' facilities in China were initially adversely impacted, they have now resumed normal operations.
First Solar says that it's still operational First Solar says that its manufacturing operations will continue at each of the company’s Wood County, Ohio, Kulim, Malaysia and Ho Chi Minh City, Vietnam facilities at this time
100 IC wafer fabs closed or repurposed since 2009 The hardest hit are ≤200mm wafer fabs, 70% of the closures are found in Japan and North America.
Westermo signs contract with North American rail company Beijer Electronics Group has through its business entity Westermo signed a contract with a large North American rail company with an estimated value during the contract period of SEK 80 million (EUR 7.24 million).
Royal Flex Circuits boosts effort to support healthcare Santa Fe Springs, California-based Royal Flex Circuits is ramping up capacity at its year-old manufacturing facility to be produce more of the printed circuits needed in the production of ventilators used specifically in the treatment of Coronavirus.
Lam Research reacts to COVID-19 situation Fremont, California-based Lam Research Corporation has issued a business update for its quarter ending March 31, 2020.
Panasonic,Tesla scaling down production in Nevada In response to Panasonic’s announcement this week of a temporary, full suspension of production of its operations at Tesla’s Gigafactory in Nevada, Tesla also issued a statement that it would significantly decrease production at the site.
NOTE temporarily suspends production at Windsor plant Swedish EMS provider NOTE has, in line with the UK authorities' decision to limit all non-essential travel and work, temporarily halted its production at its manufacturing facility in Windsor.
Texas Instruments adjusting operations in Texas Texas Instruments is following a Dallas County shelter-in-place order and reducing operations at the company’s Dallas-area plants.
European EV battery production gets a boost from the EIB The European Investment Bank (EIB) has signed a EUR 480 million loan agreement with LG Chem Wroclaw Energy, the Polish subsidiary of the LG Chem Group that was established to develop the group’s battery production facility in Europe.
Würth Elektronik CBT produces PCBs for ventilators The worldwide spread of the coronavirus is not only increasing the demand for personal protective equipment, but also for medical ventilators.
North American PCB industry sales down 1.1% in February Total North American PCB shipments in February 2020 were down 1.1% compared to the same month last year.
U.S. may further crimp Huawei's global chip supply Senior Trump administration officials have reportedly agreed on new restrictions to curb the global supply of chips to China’s Huawei Technologies, sources are saying.
Tesla to reopen NY plant to make ventilators Tesla has joined industry efforts to shift production from autos and other non-healthcare related components to much needed supplies that support the domestic battle against rising numbers of coronavirus victims and the need for testing.
Bosch develops rapid test for COVID-19 Developed in just six weeks, Bosch says the rapid test can detect a COVID-19 infection in patients in under two and a half hours – measured from the time the sample is taken to the time the result arrives.Load more news