HOUSTON, Nov. 19,
2024 /PRNewswire/ -- Nauticus Robotics, Inc. (NASDAQ:
KITT, "Nauticus"), a leading innovator in autonomous subsea
robotics and software solutions, today announced a strategic
collaboration with SeaTrepid International, LLC ("SeaTrepid") to
integrate and test its ToolKITT software on a Remotely Operated
Vehicle (ROV) in SeaTrepid's fleet.
Under this collaboration, Nauticus will install a perpetual
license of its ToolKITT software onto an ROV, with SeaTrepid
providing access to its facilities and workforce to support pool
testing during the certification process. SeaTrepid will gain a
competitive edge through enhanced ROV services, while Nauticus will
benefit from recurring annual software maintenance revenues
post-deployment.
The collaboration's first focus is implementing ToolKITT's
automatic station-keeping capability. This feature will enable ROV
pilots to stabilize the vehicle during subsea operations, reducing
workload and improving precision. Following the successful
deployment of this initial capability, additional advanced features
of ToolKITT will be rolled out incrementally.
John Gibson, CEO and President of
Nauticus Robotics, stated, "We are thrilled to work with
Bob Christ and the team at
SeaTrepid. Together, we aim to revolutionize subsea operations by
advancing autonomous ROV capabilities. By equipping SeaTrepid's
ROVs with ToolKITT, we can deliver significant efficiency gains,
including reduced CO2 emissions, faster mission completion times,
and fewer operator-related delays. This collaboration represents an
exciting entry point for ToolKITT into the broader ROV market,
building on its recent success on the Aquanaut Mark 2 vehicle
earlier this year."
Bob Christ, CEO of SeaTrepid,
added, "This collaboration with Nauticus allows us to integrate
cutting-edge software into our fleet, paving the way for SeaTrepid
to become the first autonomous ROV service provider. We're excited
about the opportunities this technology presents for transforming
subsea operations and look forward to delivering enhanced
capabilities to our clients."
This collaboration underscores Nauticus' and SeaTrepid's shared
commitment to advancing augmented autonomy in subsea robotics. By
leveraging existing ROV infrastructure, the collaboration aims to
accelerate market adoption of autonomous technologies while
providing cross-training opportunities for their teams.
About Nauticus Robotics
Nauticus Robotics, Inc. develops autonomous robots for the ocean
industries. Autonomy requires the extensive use of sensors,
artificial intelligence, and effective algorithms for perception
and decision allowing the robot to adapt to changing environments.
The company's business model includes using robotic systems for
service, selling vehicles and components, and licensing of related
software to both the commercial and defense business sectors.
Nauticus has designed and is currently testing and certifying a new
generation of vehicles to reduce operational cost and gather data
to maintain and operate a wide variety of subsea infrastructure.
Besides a standalone service offering and forward-facing products,
Nauticus' approach to ocean robotics has also resulted in the
development of a range of technology products for
retrofit/upgrading traditional ROV operations and other third-party
vehicle platforms. Nauticus' services provide 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.
About SeaTrepid International
SeaTrepid International, LLC is an applied robotic solutions
provider offering support for commercial, public safety, municipal,
military and scientific applications. They own and operate a
variety of robotic equipment and sensor suites for both inland and
offshore customers worldwide.
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
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 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 April 10, 2024. 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.
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SOURCE Nauticus Robotics, Inc.