PanGeo Subsea

PanGeo Subsea

High-resolution 3D acoustic sub-seabed imaging solutions.

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round
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$21.0m

Valuation: $21.0m

Acquisition
Total Funding000k
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PanGeo Subsea, founded in 2006 by Moya Cahill and Jacques Guigne, operates as a marine geophysical-geotechnical service delivery company. It was acquired by Kraken Robotics in August 2021 and, as of January 1, 2023, the brand and company name were officially changed to Kraken Robotics. PanGeo Subsea is now a wholly-owned subsidiary of Kraken, operating under the name Kraken Robotics Services.

The company specializes in high-resolution, 3D acoustic imaging solutions that mitigate risks for offshore installations in markets such as renewable energy, oil and gas, and defense. Its core technology provides detailed volumetric imaging of the sub-seabed to identify geohazards like buried boulders and unexploded ordnance (UXO), map soil stratigraphy, and visualize underwater infrastructure. This service is crucial for planning, installation, and decommissioning of subsea assets like pipelines, cables for wind farms, and oil platforms.

The business operates on a service-based model, deploying its proprietary sensor technologies like the Acoustic Corer™ and the Sub-Bottom Imager™ (SBI) for client projects worldwide. These technologies are often mounted on Remotely Operated Vehicles (ROVs) to perform detailed surveys. The company has seen significant growth in the offshore renewable energy sector, assisting with route surveys for wind turbine cables and locating historical explosives in the North Sea. In 2022, the company reported a record year for its Acoustic Corer contracts, valued at over $8 million.

Co-founder Moya Cahill, a graduate of Memorial University with a degree in Naval Architecture Marine Engineering, has over 35 years of experience in the offshore energy sector. She served as CEO of PanGeo and later as Executive Vice President of Services at Kraken Robotics following the acquisition, before retiring in September 2023. The acquisition by Kraken Robotics was intended to accelerate a shift to a Robotics/Data-as-a-Service model and expand offerings to provide a holistic suite of seabed and sub-seabed imaging services.

Keywords: sub-seabed imaging, 3D acoustic imaging, marine geophysics, offshore risk mitigation, unexploded ordnance detection, UXO survey, depth of burial survey, offshore wind, cable route survey, pipeline inspection, site decommissioning, Acoustic Corer, Sub-Bottom Imager, geotechnical services, subsea survey, offshore installation, geohazard identification, marine technology, seabed mapping, renewable energy services, subsea infrastructure, ocean technology

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