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Kraken Robotics Inc. announced the passing of founder and former CEO, Karl Kenny on February 11, 2025, at the age of 64. Karl founded Kraken in 2012 and was instrumental in building the company into a leading player in subsea robotics over his 10-year tenure, before retiring in December 2022.  “An ideas man and a builder, Karl’s energy was as relentless as his passion to compete against the bigger industry players,” said Greg Reid, President and CEO of Kraken Robotics. “He was an incredible force that drove Kraken to success. On behalf of the Board of Directors, management and employees, he will be sorely missed.

Russia may be forced to reduce its oil production in the coming months as U.S. sanctions restrict access to tankers needed for exports to Asia, while Ukrainian drone attacks continue to damage key refineries.Last month, the U.S. imposed sanctions targeting 180 Russian tankers, coinciding with an escalation in Ukrainian drone strikes aimed at strengthening Kyiv’s bargaining position. These developments come amid growing expectations that U.S. President Donald Trump will pressure Russian President Vladimir Putin to negotiate an end to the war in Ukraine. Trump has indicated that ending the conflict is a top priority, with the potential for additional sanctions if progress is not made.

Shares in South Korean shipbuilders HD Hyundai Heavy Industries and Hanwha Ocean rose more than 15% and 16%, respectively, today, after two U.S. senators debuted a bill to allow the U.S. Navy to build naval vessels in a shipyard located in a U.S. allied country.Senators Mike Lee (R-UT) and John Curtis (R-UT) have introduced two new bills aimed at enhancing the readiness and capabilities of the United States Navy and Coast Guard. The "Ensuring Naval Readiness Act" and the "Ensuring Coast Guard Readiness Act" seek to modernize shipbuilding processes and strengthen partnerships with allied nations to expedite maritime procurement.

As global reliance on subsea infrastructure grows, so do the risks. Discover how safeguarding undersea assets opens new frontiers for innovation and investment.Importance of Subsea InfrastructureSubsea infrastructure plays a critical role in maintaining the operational continuity of the modern society and the global economy. This vast network includes subsea data and communication cables, pipelines for energy transportation, electricity cables, and resource extraction systems. What’s important is that these components are increasingly vulnerable to damage, whether due to natural phenomena or intentional human interference.

President Donald Trump said that Elon Musk will lead an audit of the Pentagon, aiming to uncover what he claims could be "hundreds of billions of dollars" in fraud and abuse.During a Super Bowl interview with Fox News' Bret Baier, Trump revealed his plans to instruct Musk to broaden his oversight beyond the Department of Education to include the Department of Defense. “We're going to find billions, hundreds of billions of dollars of fraud and abuse,” Trump asserted, referring to the Pentagon, the largest federal department with a budget nearing $1 trillion annually.