HOUSTON, May 02, 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 its successful completion of a live offshore demonstration with the U.S. Navy of its AI-enhanced mine countermeasure vehicle. The achievement advanced Nauticus to the next phase of the Defense Innovation Unit’s (“DIU”) Autonomous Explosive Ordinance Disposal (“EOD”) Maritime Response Vehicle (“AEMRV”) program. The AEMRV represents one of two Nauticus programs with the DIU – a Department of Defense organization that strengthens the national security by accelerating the adoption of leading commercial technology throughout the military and growing the national security innovation base.
In February 2022, DIU commissioned Nauticus to transform an existing mine countermeasure platform into an untethered autonomous drone to remotely identify and neutralize subsea mines and other targets of interest and take U.S. Navy EOD divers out of harm’s way in the process. Mine warfare is a global threat and can disrupt supply chains, logistics, and critical subsea infrastructure.
The Company integrated its software package, toolKITT, into a subsea vehicle used in an existing program of record. The AI-enabled software allows untethered vehicle operations while adhering to open architecture principles. The heavily modified remotely operated vehicle will allow U.S. Navy EOD divers to safely perform previously life-threatening duties by identifying and neutralizing underwater mines at greater stand-off distances than previously thought possible. To demonstrate the remotely operated vehicle’s enhanced capabilities, Nauticus completed a live testing event in San Diego and successfully progressed to the next stage of the program.
“Our premier software platform, toolKITT, will enable the U.S. Navy to use an enhanced, autonomous vehicle with state-of-the-art adaptive functionality. We are honored to have been given the opportunity and deliver on providing the U.S. Navy with a revolutionary underwater vehicle behaviors that optimizes both functionality and safety,” said Nicolaus Radford, CEO of Nauticus. “We are committed to supporting DIU to bring autonomy to the forefront of defense problem-solving.”
The new capabilities Nauticus brings to the DIU program include the following:
- Untethered Operations: Integration of onboard power, acoustic communications, and edge processing hardware enables operators to supervise the vehicle remotely, providing enhanced safety and operational capability for the warfighter.
- Autonomous Operations: AI technology allows the unit to classify objects and execute tasks without direct human commands, including precision vehicle positioning and EOD tool placement.
- AI at the Edge: Computer vision automatically detects objects of interest on the ocean floor and in the water column.
- Open Architecture: Maximization of modular, open architecture to optimize the vehicle's functionality.
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.
Contacts:
Investor Relations Contact:
Cody Slach or Ralf Esper
Gateway Group, Inc.
(949) 574-3860
KITT@GatewayIR.com
Media Contact:
Zach Kadletz
Gateway Group, Inc.
(949) 574-3860
KITT@GatewayIR.com
