Nauticus Robotics Inc KITT shares are trading higher Wednesday after the company said it was awarded a second multi-million dollar contract by the U.S. Defense Innovation Unit for the development of an amphibious unmanned system.
The company's own command and control software platform, ToolKITT, will be used to build the amphibious unmanned system. ToolKITT is currently being used aboard the U.S. Navy's Defender Mission Specialist remotely operated vehicle systems to advance the vehicle with more autonomous behaviors.
Ed Tovar, Director of Business Development for Defense Systems at Nauticus, said that we were thrilled with the additional work the DIU and the U.S. Marine Corps have awarded us to continue providing leading maritime robotics and autonomy solutions for the warfighter.
Nauticus is a developer of autonomous ocean robots and associated services. ToolKITT is a software platform that uses advances in machine learning to identify, classify and perform complex underwater activities that can be applied underwater to remove, detect, identify, inspect and neutralize hazards.
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KITT Price Action: Nauticus has a 52 week high of $9.05 and a 52 week low of $3.14.
The stock was up 65.5% at $5.34 at the time of publication, according to Benzinga Pro.