HOUSTON, April 19, 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 it has successfully completed the competitive first phase of the Defense Innovation Unit (“DIU”) Amphibious Autonomous Response Vehicle program and is advancing toward the next milestone.
Within this multi-million dollar contract award, previously announced in October 2022, DIU, in partnership with Marine Corps Systems Command (MCSC) and the Office of the Deputy DoD CTO for Mission Capabilities, commissioned Nauticus to adapt the company’s inventory of commercialized technologies and to quickly develop a new autonomous mine countermeasure robot for use in surf zones and beach areas to support the U.S. Marine Corps during amphibious operations. Nauticus' novel implementation includes a robot capable of not only swimming, but also crawling out of the surf and onto the beach. The solution utilizes the Company’s autonomous command and control software platform, ToolKITT, and combines several mature technologies such as machine vision, autonomous mission planning, and acoustic data networking onto an amphibious robotic vehicle hull that can collect intelligence and identify potential hazards. ToolKITT, which also serves as the foundation of Nauticus’ flagship robot Aquanaut, was specifically designed to enable autonomous actions, agnostic to the robotic platform.
“The Defense Innovation Unit has been a fantastic partner. They leverage our mature catalog of technologies we’ve developed from our outside investments and apply those to pressing problems facing the Services,” said Nicolaus Radford, founder and CEO of Nauticus. “We believe this partnership will be instrumental in not only furthering the U.S. Marine Corps’ integration of cutting-edge robotics capabilities, but ultimately helping to keep servicemembers out of harm’s way.”
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:
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Gateway Group, Inc.
(949) 574-3860
KITT@GatewayIR.com
