Nauticus Robotics signs BRL 21.6M (~$4.3M) contract with Petrobras for underwater inspection using Aquanaut

Nauticus Robotics, Inc.

Fixed fee of BRL 21.6M (~$4.3M) for underwater inspection services using Aquanaut.
Contract term is 1,080 days; services subject to Petrobras inspection and acceptance.
Nauticus must comply with local labor laws, information security, and maintain insurance.
Termination rights include delay in payment by Petrobras or certain breaches by Nauticus.
Nauticus may be liable for damages up to 100% of readjusted contract value under certain conditions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Nauticus Robotics, Inc. entered into Agreement with Petróleo Brasileiro S.A. (Petrobras) valued at BRL 21.6 million (approximately USD 4.3 million) (effective 2022-05-23).

Action: entry
Counterparty: Petróleo Brasileiro S.A. (Petrobras)
Value: BRL 21.6 million (approximately USD 4.3 million)
Effective: 2022-05-23

Exact text from the filing

On May 23, 2022, Nauticus Robotics Brazil Ltda., a Brazilian limited liability company (the "Company") and a wholly owned subsidiary of Nauticus Robotics, Inc., a Delaware corporation, entered into an agreement (the "Agreement") by and between the Company and Petróleo Brasileiro S.A., a Brazilian limited liability corporation ("Petrobras"), pursuant to which, among other things and upon the terms and subject to the conditions set forth therein, the Company will provide Petrobras with underwater inspection services through the use of Aquanaut, the Company’s autonomous subsea robotic system.

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Nauticus Robotics, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-043735

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