Nauticus Signs Manufacturing and Sales Agreement with FET to Commercialize Electric Manipulator System
Written by Emily J. Thompson, Senior Investment Analyst
Source: PRnewswire
Updated: 1 hour ago0mins
- Agreement Signing: Nauticus Robotics has signed a Manufacturing and Sales Agreement with Forum Energy Technologies, where FET will lead the commercialization and manufacturing of the Olympic Arm™ electric manipulator system, which is expected to accelerate market penetration and boost revenue.
- Technological Integration Advantage: By combining Nauticus's innovations in intelligent manipulation and autonomy with FET's global manufacturing capabilities, the collaboration aims to advance the application of all-electric technologies, enhancing reliability and efficiency in subsea operations.
- Market Expansion Potential: This partnership not only provides FET with opportunities for differentiated technology development but also supports its long-term growth goal of doubling revenue and market share by 2030.
- Intelligent Control Platform Progress: Nauticus's ToolKITT™ autonomy platform has exceeded expectations in commercial projects, and future enhancements will improve manipulation autonomy capabilities, increasing safety and efficiency for subsea missions.
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About FET
Forum Energy Technologies, Inc. is a global manufacturing company serving the oil, natural gas, industrial and renewable energy industries. Its segments include Drilling and Completions and Artificial Lift and Downhole. The Drilling and Completions segment designs, manufactures and supplies products and solutions to the drilling, subsea, coiled tubing, well stimulation and intervention markets, including applications in the oil and natural gas, renewable energy, defense and communications industries. The products and solutions include capital equipment and consumable products, wireline cable and pressure control equipment, and coiled tubing strings and pressure control equipment. The Artificial Lift and Downhole segment designs, manufactures and supplies products and solutions for the artificial lift, well construction, production and infrastructure markets. Its products include well construction casing and cementing equipment, customized downhole technology solutions, and others.
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Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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