Nauticus Robotics and Leidos Execute Additional $2.1M Contract Extension

HOUSTON, Aug. 22, 2023 (GLOBE NEWSWIRE) -- 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.