October 3, 2025 – Richmond, VA – Sparkstone Capital Advisors, LLC (“Sparkstone”) is pleased to announce the sale of 3D at Depth, Inc. (“3D”), a leading provider of subsea LiDAR imaging and measurement solutions, to Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF; “Kraken). Sparkstone served as the exclusive advisor for 3D.
As a wholly owned subsidiary of Kraken, 3D will continue delivering its full range of services while transitioning under the Kraken brand, broadening the combined group’s subsea intelligence capabilities for clients worldwide.
3D at Depth specializes in underwater data acquisition using advanced LiDAR technology to generate precise 3D point clouds of subsea environments. The company provides end-to-end project support from survey design to final data delivery, helping clients across offshore energy, defense, maritime construction, and environmental research gain deeper insight into underwater assets and terrain. Its technology enables driven decision making while improving asset management and reducing operational risk.
Kraken Robotics brings a complementary suite of subsea technologies, including synthetic aperture sonar (“SAS”), sub-bottom imaging systems, and pressure-tolerant energy storage. Kraken’s SAS delivers ultra-high resolution seabed imagery for applications such as defense and offshore infrastructure inspection. Its sub-bottom imaging technology reveals detailed structures beneath the seafloor, supporting geophysical surveys and construction planning. Kraken’s energy storage systems enable long-endurance missions for unmanned underwater vehicles (“UUV”s) and subsea power platforms.
Together, 3D and Kraken will offer a best-in-class combination of high-resolution imaging, subsea mapping, and energy solutions, setting a new standard for performance, reliability, and insight in complex underwater environments.
Sparkstone is a financial advisory firm focused on mergers, acquisitions, and capital raising in the energy and industrial sectors. It was founded in 2018 by three partners with decades of collective energy M&A experience. The firm’s goal is to provide independent and unbiased client service, execute transactions efficiently with senior-level bankers, and develop meaningful long-term relationships. More information can be found at www.sparkstonecap.com.