Nauticus Robotics and Leidos Execute Additional $2.1M Contract Extension
22 Agosto 2023 - 8:30AM
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 industries, today announced it has been awarded an additional
$2.1 million under its current contract with Leidos (NYSE: LDOS), a
FORTUNE 500® science and technology leader. The additional funding
augments the earlier award and this program has received $16.6
million in funding from Leidos since 2022. The technology developed
is expected to underpin future, economically material
opportunities.
Derived from Aquanaut, this undersea robot
features technology to support longer and more challenging
missions. In addition, this award furthers operational enhancements
to toolKITT, Nauticus' proprietary software package developed to
enable an ecosystem of autonomous actions for subsea vehicles,
which enables the vehicle’s intelligence.
"This work is the centerpiece of Nauticus’
excellent collaboration with Leidos, and I look forward to
continuing our mutual progress of advancing the state of the art in
undersea vehicles," said Nicolaus Radford, founder and CEO of
Nauticus.
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.
About Leidos
Leidos is a Fortune 500® technology,
engineering, and science solutions and services leader working to
solve the world's toughest challenges in the defense, intelligence,
civil and health markets. Leidos' 46,000 employees support vital
missions for government and commercial customers. Headquartered in
Reston, Va., Leidos reported annual revenues of approximately $14.4
billion for the fiscal year ended December 30, 2022. For more
information, visit www.leidos.com.
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 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 March 28, 2023, Quarterly
Report on Form 10-Q/A filed with the SEC on August 10, 2023, and
Quarterly Report on Form 10-Q filed with the SEC on August 14,
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 EsperGateway
Group, Inc.(949) 574-3860KITT@Gateway-grp.com
Media Contact:Zach KadletzGateway Group,
Inc.(949) 574-3860KITT@Gateway-grp.com
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