HOUSTON, April 13, 2023 (GLOBE NEWSWIRE) -- Nauticus Robotics, Inc. (“Nauticus” or the “Company”) (NASDAQ: KITT), a developer of autonomous robots using artificial intelligence for data collection and intervention services for the ocean industries, today announced the commencement of commissioning exercises of the first of three second-generation Aquanauts, dubbed the ‘Mark 2’ (MK2). Following commissioning, Nauticus expects to send the initial Aquanaut MK2 units to the North Sea and the Gulf of Mexico in the coming months to support customer initiatives in those regions.
The Aquanaut MK2 is a fully electric, untethered and autonomous subsea robot that is controlled through acoustic communication networking and underpinned by Nauticus’ proprietary software suite, toolKITT. The artificial intelligence-based software suite allows for robotic controls, user interfaces, sensor integration, simulation, data analysis, and communication frameworks purpose-built to enable subsea work.
Aquanaut MK2’s defining capability is operating in two separate modes, actively transforming itself between the excursion and intervention configurations. Excursion mode involves the usage of data collection and perception sensors, while intervention mode utilizes two of Nauticus’ Olympic Arms – electric work-class manipulators – to perform precise yet powerful interactions with subsea infrastructure and objects to complete complex, underwater tasks.
“The delivery of our initial second-generation Aquanauts is a significant milestone that accelerates our mission to disrupt the offshore ocean services industry while setting a benchmark for next-generation subsea technology that will fundamentally revolutionize how the industry operates,” said Nicolaus Radford, founder and CEO of Nauticus. “Our autonomous ocean robots and proprietary AI software provide a compelling solution to the marine industry, validated on a recurring basis with the continued interest and robust growth of our commercial pipeline. This splashdown allows us to remain on track to deliver two additional Aquanauts by mid-year, which are already committed to fulfill customer demands, as we continue to execute on our commercial pipeline and expand the breadth of our world-class portfolio.”
Nauticus’ comprehensive service solution, leveraging artificial intelligence to perform a wide variety of autonomous underwater tasks, is sought by companies that desire to inspect and interact with the subsea environment at lower cost and increased safety while minimizing environmental impact. This AI-powered technology coupled with the company’s next generation subsea robots substantially improve the efficiency and safety, while reducing the carbon footprint, of offshore operations at significantly reduced costs over legacy methods.
About Nauticus
Nauticus Robotics, Inc. is a developer of autonomous robots using artificial intelligence for data collection and intervention services for the ocean industries. Nauticus’ robotic systems and services are delivered to commercial and government-facing customers through a Robotics-as-a-Service (RaaS) business model and direct product sales for both hardware platforms and software licenses. Besides a standalone service offering and products, Nauticus’ approach to ocean robotics has also resulted in the development of a range of technology products for retrofitting/upgrading legacy systems and other third-party vehicle platforms. Nauticus provides customers with the necessary data collection, analytics, and subsea manipulation capabilities to support and maintain assets while reducing their operational footprint, operating cost, and greenhouse gas emissions to improve offshore health, safety, and environmental exposure.
Cautionary Language Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Act”) and are intended to enjoy the protection of the safe harbor for forward-looking statements provided by the Act as well as protections afforded by other federal securities laws. Such forward-looking statements include, but are not limited to: the expected timing of product commercialization or new product releases; customer interest in Nauticus’ products; estimated 2023 operating results and use of cash; and Nauticus’ use of and needs for capital. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “intends” or “continue” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These forward-looking statements are based on Nauticus’ management’s current expectations and beliefs, as well as a number of assumptions concerning future events. There can be no assurance that the events, results, or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and Nauticus is not under any obligation and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports which Nauticus has filed or will file from time to time with the Securities and Exchange Commission (the “SEC”) for a more complete discussion of the risks and uncertainties facing the Company and that could cause the forward-looking statements no to occur, in particular the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in documents filed from time to time with the SEC, including Nauticus’ Annual Report on Form 10-K filed with the SEC on March 28, 2023. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The documents filed by Nauticus with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov.
Investor Relations Contact:
Ralf Esper
Gateway Group, Inc.
(949) 574-3860
KITT@GatewayIR.com
Media Contact
Zach Kadletz
Gateway Group, Inc.
(949) 574-3860
KITT@GatewayIR.com
