News & Events zu Nauticus Robotics Inc (KITT)KITTNauticus Robotics Inc

Nauticus Robotics Sees Substantial Offshore Activity in Q3

Nauticus Robotics announced that both of its Comanche remotely operated vehicle, or ROV, systems are currently operating on commercial offshore projects, reflecting substantially stronger offshore activity during the Q3. Nauticus is experiencing a substantially stronger Q3 based on commercial ROV activity to date. Both of the Company's Comanche ROV systems are currently deployed on customer projects. One is working in the U.S. Northeast in support of offshore wind development, while the second is performing platform inspection work off the U.S. Gulf Coast. In addition to the current deployments, Nauticus has submitted bids and proposals for ROV projects across multiple locations in both the U.S. and international offshore markets.

Nauticus Robotics Collaborates with Strangeworks to Optimize Maritime Infrastructure Protection

Nauticus Robotics and Strangeworks, an advanced compute optimization company that transforms complex operational challenges into production decision systems, announced a collaboration to explore optimization of the deployment of distributed fiber-optic sensing networks for maritime infrastructure protection. The collaboration combines Nauticus' autonomous subsea robotics, autonomy software, and mission expertise with Strangeworks Aura, an intelligent optimization platform that applies classical optimization, artificial intelligence, quantum-inspired algorithms, and quantum computing. Distributed Acoustic Sensing transforms standard fiber-optic cable into thousands of virtual acoustic sensors. The collaboration may also help identify future opportunities to apply advanced computational techniques beyond deployment planning.

Nauticus Robotics Converts $4M Debt to Equity

Nauticus Robotics announced an exchange agreement to convert outstanding indebtedness into equity. Nauticus entered into an exchange agreement with an existing lender, pursuant to which the lender converted approximately $4.0M of outstanding indebtedness and accrued interest under the company's Senior Secured Term Loan Agreement into 4,800 shares of the company's Series C Convertible Preferred Stock. The transaction eliminates approximately $4.0M of debt from the company's balance sheet, increases stockholders' equity, and is expected to support the company's continued efforts to maintain compliance with Nasdaq's stockholders' equity requirements.