Nauticus is experiencing a substantially stronger third quarter 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 US Northeast in support of offshore wind development, while the second is performing platform inspection work off the US Gulf Coast.
The concurrent deployments represent increased utilization of the Company’s ROV assets and place both Comanche systems in active commercial operations simultaneously. The projects also represent commercial activity in two distinct US offshore markets.
In addition to the current deployments, Nauticus has submitted bids and proposals for ROV projects across multiple locations in both the US and international offshore markets. These bids and proposals are not included in the operating activity described in this release, and no assurance can be given that any prospective project will result in a contract or commercial activity.
“Having both Comanche ROV systems working commercially is an important operating milestone for Nauticus,” said Steve Walsh, Vice President of Sales at Nauticus. “Today, we have active commercial operations in both the Northeast and Gulf Coast, with both systems and our offshore personnel supporting customer projects. The level of activity we are experiencing during the third quarter represents a meaningful improvement in utilization of our ROV assets.”
The operational information presented in this release describes activity as of the date of this announcement. Nauticus does not provide revenue guidance, and the information presented regarding current ROV activity should not be interpreted as a forecast of future financial or operating results.
