Nauticus Robotics (NASDAQ:KITT) stock is on the rise Friday after the ocean robots and cloud software development company announced a new testing partnership.
This has Nauticus Robotics teaming up with Florida Atlantic University (FAU) for further testing of its Aquanaut Mark 2. This testing will happen near the university’s Institute for Ocean and Systems Engineering Dania Beach location and in the deeper Atlantic Ocean.
Nauticus Robotics notes that FAU will handle full testing of the underwater craft in both shallow and deep water settings. The company notes that this will save it 90% of testing costs for the Aquanaut Mark 2.
Nauticus Robotics vice president of Field Operations Daniel Dehart said the following about the agreement:
“Working at FAU this summer has provided a perfect platform to efficiently test the Aquanaut vehicle, in both protected waters for product development and open waters for data collection and sea trials. The location, and campus, at FAU has allowed us to expedite the Aquanaut system technology in preparation for commercial use.”
KITT Stock Movement Today
News of this testing agreement brings with it heavy trading of KITT stock. This has more than 8 million shares changing hands as of this writing. This is well above its daily average trading volume of about 1.1 million shares.
KITT stock is up 40.4% as of Friday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
