Nauticus Robotics, Inc. Announces Additional Contract Award with U.S. Defense Innovation Unit for an Autonomous Amphibious Robot
October 05 2022 - 8:30AM
Nauticus Robotics, Inc. (“Nauticus” or “Company”) (NASDAQ:
KITT), a developer of autonomous ocean robots and associated
services, announced today that it has been awarded a second
multi-million dollar contract by the U.S. Defense Innovation Unit
(“DIU”) for the development of an amphibious unmanned system also
utilizing the Company’s autonomous command and control software
platform, ToolKITT. This development follows Nauticus’ previous DIU
award announcement on February 15, 2022, where ToolKITT is being
utilized aboard the U.S. Navy’s Defender Mission Specialist
remotely operated vehicle systems to advance the subsea vehicle
with more autonomous behaviors. DIU is a Department of Defense
organization that contracts with commercial companies to solve
national security problems.
Nauticus developed its proprietary ToolKITT
autonomy platform over years of internal investments and
advancements sponsored by government agencies and commercial
customers. ToolKITT is a unified software platform utilizing
advances in machine learning to identify, classify, and perform
complex underwater activities, which can be applied to remove,
detect, identify, inspect, and neutralize hazards underwater.
ToolKITT was specifically designed to enable autonomous actions
across multiple robotics platforms and is also used in Nauticus’
flagship product, Aquanaut.
“We are thrilled with the additional work the
DIU and the U.S. Marine Corps have awarded us to continue providing
leading maritime robotics and autonomy solutions to assist the
warfighter,” said Ed Tovar, Director of Business Development for
Defense Systems at Nauticus. “We are humbled and honored to be
doing our part to advance the usage of robotics and autonomous
systems to remove servicemembers from harm’s way.”
This competitively awarded prototype project has
the potential of follow-on production contracts without further
competition, in accordance with §10 U.S.C. 2371b(f), and upon a
determination that the prototype project has successfully been
completed.
About Nauticus
Nauticus Robotics, Inc. is a developer of
autonomous ocean robots and associated services. Nauticus’ robotic
systems and services are delivered to government agencies and
commercial customers through a Robotics-as-a-Service (RaaS)
business model and direct product sales. 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.
Forward-Looking Statements
This press release includes “forward-looking
statements” within the meaning of the “safe harbor” provisions of
the United States Private Securities Litigation Reform Act of 1995
and within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. All statements, other than statements of present
or historical fact included in this press release, are
forward-looking statements. When used in this press release, the
words “could,” “should,” “will,” “may,” “believe,” “anticipate,”
“intend,” “estimate,” “expect,” “project,” the negative of such
terms and other similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain such identifying words. Such forward-looking
statements are subject to risks, uncertainties, and other factors
which could cause actual results to differ materially from those
expressed or implied by such forward-looking statements. These
forward-looking statements are based upon current expectations,
estimates, projections, and assumptions that, while considered
reasonable by Nauticus and its management, are inherently
uncertain; factors that may cause actual results to differ
materially from current expectations include, but are not limited
to: 1) the outcome of any legal proceedings that may be instituted
against Nauticus or others following the closing of the business
combination; 2) Nauticus’ ability to meet the Nasdaq Stock Market
LLC’s listing standards following the consummation of the Business
Combination; 3) the risk that the Business Combination disrupts
current plans and operations of Nauticus as a result of
consummation of the Business Combination; 4) the ability to
recognize the anticipated benefits of the Business Combination,
which may be affected by, among other things, the ability of the
combined company to grow and manage growth profitably, maintain
relationships with customers and suppliers and retain its
management and key employees; 5) costs related to the Business
Combination; 6) changes in applicable laws or regulations; 7) the
possibility that Nauticus may be adversely affected by other
economic, business and/or competitive factors, including the
impacts of the COVID-19 pandemic, geopolitical conflicts, such as
the conflict between Russia and Ukraine, the effects of inflation
and potential recessionary conditions; and 8) other risks and
uncertainties set forth in the sections entitled “Risk Factors” and
“Cautionary Note Regarding Forward-Looking Statements” in CLAQ’s
Registration Statement on Form S-4, as amended, filed with the SEC,
and other documents of CLAQ and Nauticus filed, with the SEC.
Although Nauticus believes the expectations reflected in the
forward-looking statements are reasonable, nothing in this press
release should be regarded as a representation by any person that
the forward-looking statements set forth herein will be achieved or
that any of the contemplated results of such forward looking
statements will be achieved. There may be additional risks that
Nauticus presently does not know of or that Nauticus currently
believes are immaterial that could also cause actual results to
differ from those contained in the forward-looking statements, many
of which are beyond Nauticus’ control. You should not place undue
reliance on forward-looking statements, which speak only as of the
date they are made. Nauticus does not undertake, and expressly
disclaims, any duty to update these forward-looking statements,
except as otherwise required by applicable law.
For investor and media inquiries, please
contact:
Investors Relations ContactCody Slach or Jeff
Grampp, CFAGateway Group, Inc.(949) 574-3860KITT@GatewayIR.com
Media ContactZach KadletzGateway Group,
Inc.(949) 574-3860KITT@GatewayIR.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9b372409-6e27-4973-84ff-2e5361ba4622
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