Nauticus Robotics Announces Movement of Second Aquanaut Vehicle into the Acceptance Testing Phase

Rhea-AI Summary

Nauticus Robotics (NASDAQ: KITT) has completed the assembly of its second Aquanaut Mark 2 underwater vehicle and moved it into acceptance testing phase. The assembly and initial testing were completed at the company's Houston facility in January, with the vehicle now undergoing the next phase of testing in Louisiana.

The vehicle is scheduled for pool testing this month, followed by final open water testing off the southern U.S. coast. Nauticus aims to complete all acceptance testing within Q1 2025.

The company develops autonomous robots for ocean industries, focusing on reducing operational costs and gathering data for subsea infrastructure maintenance. Their business model includes robotic services, vehicle and component sales, and software licensing across commercial and defense sectors. Their technology also offers retrofit solutions for traditional ROV operations and third-party platforms.

Positive

• Completion of second Aquanaut Mark 2 vehicle assembly
• Progress in acceptance testing phases
• On track for Q1 2025 completion timeline

Negative

• None.

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HOUSTON, Feb. 3, 2025 /PRNewswire/ -- Nauticus Robotics, Inc. (NASDAQ: KITT), a leading innovator in autonomous subsea robotics and software, announces assembly completion of its second flagship underwater vehicle, Aquanaut Mark 2.

Nauticus completed assembly and the first phase of acceptance testing at its Houston facility in January. This second Aquanaut vehicle is now in Louisiana undergoing the next phase of acceptance testing. The vehicle should complete the required pool testing this month. Once completed, the vehicle will move to the final phase of testing in open water off the southern coast of the United States. Nauticus is targeting completion of all acceptance testing for this vehicle within the first quarter of 2025.

Nauticus Robotics' CEO and President, John Gibson, commented, "Pleased to have a second Aquanaut Mark 2. We are working diligently to expand the fleet."

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.

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.

FAQ

When will Nauticus Robotics (KITT) complete testing of its second Aquanaut Mark 2?

Nauticus Robotics aims to complete all acceptance testing for the second Aquanaut Mark 2 within the first quarter of 2025.

Where is the second Aquanaut Mark 2 currently being tested?

The second Aquanaut Mark 2 is currently undergoing testing in Louisiana, with final open water testing planned off the southern coast of the United States.

What phases of testing will KITT's second Aquanaut Mark 2 undergo?

The vehicle will undergo three phases: initial testing at the Houston facility, pool testing in Louisiana, and final open water testing off the southern U.S. coast.

What is the business model of Nauticus Robotics (KITT)?

Nauticus Robotics' business model includes robotic services, selling vehicles and components, and licensing software to both commercial and defense sectors.