HOUSTON, Nov. 5, 2024
/PRNewswire/ -- Nauticus Robotics, Inc. (NASDAQ: KITT), a
leading innovator in autonomous subsea robotics and software,
successfully completed its initial 2024 Gulf of Mexico (GOM) survey
scope for Shell Exploration and Production Inc ("Shell"), a
subsidiary of Shell plc (NYSE: SHEL), an international energy
company based in the United
Kingdom. The successful completion of this work combined
with the submission of a final report completes the initial 2024
scope for the service contract awarded in 2023.
The project covered inactive and active assets off the
Louisiana coast. All testing was
completed autonomously without a tether at depths up to 1000 meters. A detailed analysis
of the results is underway.
Nauticus Robotics' CEO and President, John Gibson, commented, "This project continues
the significant transformation of our company to sustainable,
commercial operations. We have successfully demonstrated a viable
product without tether on an active
field in a deepwater environment. In light of this and similar
demonstrations, our 2025 pipeline for commercial work is filling.
We are grateful to Shell for the opportunity to show the
capabilities of our technologies and services under real-time
operating conditions."
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.