HOUSTON, Sept. 11, 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 economies, today announced that it has signed a memorandum of understanding (“MOU”) with MMA Offshore Limited (“MMA Offshore”) (ASX: MRM), a global provider of high-specification vessels and a comprehensive suite of marine and subsea services to the offshore energy sector, government and defense, and wider maritime industries.
The MOU focuses on developing an integrated service offering to provide more cost-efficient and environmentally friendly maintenance of subsea infrastructures in the Asia-Pacific region and provides a pathway to integrate Nauticus’ services into MMA Offshore’s offerings.
Aquanaut’s machine intelligence and supervised autonomy capabilities enable the use of smaller service vessels previously not utilized for IMR. MMA own and operate such vessels. By combining capabilities Nauticus and MMA can offer a more economical solution compared to conventional methods.
The partnership with MMA Offshore is yet another milestone to bolster Nauticus’ strategic global presence and follows the recent announcement to deploy its autonomous robot, Aquanaut, in Brazil to service Petrobras assets. Earlier in the year, Nauticus had initiated its international expansion with the announcement of opening operating bases in Stavanger, Norway and Aberdeen, Scotland.
“This MOU is just one in a series of strategic moves we are making to disrupt autonomous subsea robotics and solidify our place as the industry leader in the field,” said Nicolaus Radford, founder and CEO of Nauticus. “Aligning with an established industry player, such as MMA Offshore, in multiple offshore markets provides a significant opportunity for Nauticus to continue expanding its reach and international customer base.”
“MMA is excited to have entered into this exclusive partnership with Nauticus Robotics and looks forward to being able to integrate their leading autonomous robotic and AI software technology into its subsea services,” said Tom Radic, Executive General Manager Subsea at MMA Offshore. “This partnership will ensure our clients have access to the latest autonomous and machine learning technology to help meet their subsea requirements.”
About Nauticus
Nauticus Robotics, Inc. is a developer of autonomous robots using artificial intelligence for data collection and intervention services for the ocean economies. 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 that 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 actual outcomes to be materially different from those indicated in the forward-looking statements made by the Company, 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, Quarterly Report on Form 10-Q/A filed with the SEC on August 10, 2023, and Quarterly Report on Form 10-Q filed with the SEC on August 14, 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@Gateway-grp.com
Media Contact
Zach Kadletz
Gateway Group, Inc.
(949) 574-3860
KITT@Gateway-grp.com
