Nauticus Robotics Initiates International Expansion with Operating Bases in Norway and the United Kingdom
Autonomous Ocean Robotics Leader’s International Expansion Strategy for 2023 and Beyond Starting with Openings in Europe
HOUSTON, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Nauticus Robotics, Inc. (“Nauticus” or the “Company”) (NASDAQ: KITT), a developer of ocean robots, autonomy software, and services to the marine industries, today announced the initiation of its operations in Norway and the United Kingdom, beginning the Company’s international expansion strategy for 2023 and beyond.
The operating bases are strategically located in Stavanger, Norway and Aberdeen, Scotland to service the North Sea offshore market. The Company will deploy assets and collaborate with local partners to service the region’s extensive offshore wind and oil and gas assets with its expanding Nauticus Fleet, a robotic navy of surface and subsea robots. These regional bases will provide local subject matter expertise and logistics as the Company’s international operations continue to grow. Eventually, Nauticus plans to open bases around the world, strategically located in targeted growth markets and equipped with local remote operation centers and service teams.
“The ocean touches nearly every aspect of our lives, yet paradoxically seems to receive less attention and innovation when compared to other sectors,” said Nicolaus Radford, founder and CEO of Nauticus. “As we expand our operations to these strategic locales and beyond, our core mission remains the same: to become the most impactful ocean robotics company and realize a future where autonomous robotic technologies are commonplace and enable the blue economy for the better. We are eager to ramp up activities in these international markets as our growing team contributes to our mission.”
In April 2022, Nauticus commenced production of its Nauticus Fleet – a robotic navy of Hydronaut and Aquanaut pairs. Initial delivery to its strategic international bases is anticipated to begin in Q2 2023. These tandem pairs will be deployed to multiple locations around the world to service offshore industries ranging from subsea maintenance and intervention to data collection activities.
Nauticus Robotics, Inc. Robotics, Inc. is a developer of ocean robots, autonomy software, and services delivered to the marine 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.
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 the expected timing of product commercialization or new product releases; customer interest in Nauticus’ products; estimated 2022 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 the forward-looking statements no to occur, 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’ Quarterly Report on Form 10-Q filed with the SEC on November 14, 2022. 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:
Cody Slach or Jeff Grampp, CFA
Gateway Group, Inc.
Gateway Group, Inc.
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Released January 18, 2023