Nauticus is acquiring the company for approximately $34 million in stock, before certain purchase price adjustments and assumption of debt.
The funded extension allows Nauticus Robotics to continue developing an Aquanaut-derivative in preparation for customer adoption decisions.
During Q2, Nauticus Robotics signed big contracts with Shell and Petrobas, and continued its work with the US DIU.
Nauticus Robotics has been awarded a contract with Petrobras to develop and test its autonomous underwater vehicle (AUV) Aquanaut in Brazil.
Nauticus Robotics develops ocean robots, software and services for the marine industry.
Formerly known as Houston Mechatronics, Nauticus is developing surface and underwater robots that perform a variety of ocean tasks, including transportation, data collection, equipment maintenance and more.