Nauticus Robotics (NASDAQ:KITT) was sharply higher on Thursday as it unveiled a new partnership with Shell PLC (LSE:SHEL, NYSE:SHEL), which will use the NASDAQ-listed firm’s marine technology and AI systems to maintain its offshore installations.
The automated robot systems will start by inspecting some of Shell’s subsea infrastructure in the Gulf of Mexico.
Aquanaut, Nauticus’ flagship autonomous subsea robot, will serve as the project’s workhorse and perform noncontact and contact inspections across an extensive subsea complex, the company said in a statement.
Using Aquanaut will allow work to be conducted, autonomously, at depths of up to 1,000 metres without the ‘umbilical’ connection that would previously be necessary for remote control technology.
It could become a pilot project that takes ‘a major step’ for underwater operations that could lead to a step change in technology and service delivery for the offshore sector, Nauticus added.
“I am incredibly pleased with the progress the team has made in our collaboration with Shell and to embark on this new project with one of the world’s leading energy companies,” Nauticus chief executive Nicolaus Radford commented.
“Nauticus now has visibility long term IMR services work for Shell and the opportunity to become the preferred supplier for this advanced work.
“We recognize the significance of this opportunity with Shell and look forward to the execution of this project work.”
In New York, Nauticus shares were up 12.44% trading at $2.26 in early deals.