UK maritime technology company the Kraken Technology Group (KTG) has completed a further private funding round to support development of its interceptor craft concept prior to an anticipated priced investment round later this year.
KTG said the craft is designed specifically to meet the growing global requirement for fast-response precision engagement, coastal interdiction, and the protection of critical offshore infrastructure. It will have response speeds in excess of 65 knots and optional use of advanced electric powertrain technology to extend range and improve performance.
The vessel will be of composite construction.
