Nauticus Robotics, Inc. · NASDAQ:KITT
Nauticus Robotics — SPAC Merger (December 2021)
41 slides from Nauticus Robotics's SPAC merger presentation, Dec 17, 2021
Slide 1: Investor Presentation: A Pure Play Bluetech Robotics Company
INVESTOR P R E SE N T A T I O N A Pure Play Bluetech Robotics Company DEC 2021
Slide 2: Copyright, Disclaimer, and Confidentiality
C O P Y R I G H T , D I S C L A I M E R , A N D C O N F I D E N T I A L I T Y Disclaimer: This confidential presentation (the “presentation”) is being delivered to you by Nauticus Robotics, Inc. (“Nauticus”) and CleanTech Acquisition Corp. (“SPAC” or “CleanTech”) in connection with its potential bus
Slide 3: Copyright, Disclaimer, and Confidentiality
C O P Y R I G H T , D I S C L A I M E R , A N D C O N F I D E N T I A L I T Y Industry, Market Data and Partnerships: In this presentation, Nauticus and SPAC rely on and refers to certain information and statistics regarding the markets and industries in which Nauticus competes. Such information and
Slide 4: Copyright, Disclaimer, and Confidentiality
C O P Y R I G H T , D I S C L A I M E R , A N D C O N F I D E N T I A L I T Y Financial Information; Non - GAAP Financial Terms: The financial information and data contained in this presentation is unaudited and does not conform to Regulation S - X promulgated by the Securities and Exchange Commissi
Slide 5: Energy infrastructure at sea needs underwater robots
Just in the Gulf of Mexico and the North Sea, there is enough energy infrastructure to circle the earth, two and half times. There is an increasing pace of offshore renewable energy installations with billions more planned. Fighting climate change will require large amounts of time spent at sea and
Slide 6: Current offering has drawbacks
CURRENT OFFERING HAS DRAWBACKS Representative incumbent technology and industry E mi t s u p t o 70 M T C O 2 / da y Risks the safety of scores of people offshore Up to $100K/day Vessel could be the size of a football field Leaky hydraulics are a recordable incident at even small level of spills and
Slide 7: We can and must do better for emerging industries
7 WE CAN AND MUST DO BETTER FOR EMERGING INDUSTRIES A g e n e r i c , ill u s t r a t i ve e x a m p l e
Slide 8: Tetherless, autonomous robots from surface to seabed
Disrupt the ocean industry with tetherless, autonomous robots from surface to seabed at a cost reduction of over 50% and almost a total reduction of the GHG emissions .
Slide 9: Transaction Summary
9 TRANSACTION SUMMARY O f f e r i n g Size SPAC has $174mm of cash in trust and is focused on technologies that are enabling Energy Transition P I P E si ze o f $73 m m 1 B u si n e ss O v e rv i ew Capital S t r u c t u r e $222 m m 1 c a s h o n b a l a n ce sh ee t a t c l o s i n g Pre - money E
Slide 10: CleanTech Acquisition Corporation team
CLEANTECH ACQUISITION CORPORATION 10 ELI SPIRO Chief Executive Officer 23+ years of experience in capital markets. Chief Executive Officer of Axxcess Capital Partners where he has closed over $1.5Bn of transactions since inception. Involved in numerous transactions in the clean energy space, includi
Slide 11: Nauticus Executive Team
NICOLAUS RADFORD Founder, Chairman, President & CEO 20+ year robotics veteran and former robotics leader at NASA and Oceaneering Led the team to put the first humanoid robot, Robonaut, on the International Space Station Led other pioneering and flagship efforts at NASA in spaceflight and defense rob
Slide 12: A high growth, blue-tech robotics as a service company
A HIGH GROWTH, BLUE - TECH ROBOTICS AS A SERVICE COMPANY RaaS business model using proprietary cloud software platform - the latest advancements in AI/ML, perception, and autonomous control for robots deployed in the ocean domain. Investors Partners Awards and Features MTR100 Companies to Watch 1 2
Slide 13: Leading the industry's transformation to a sustainable model
This approach is leading the industry’s transformation to an e c ono m ic a ll y e ff ic ien t a nd en v i r on m en t a ll y su s ta ina b l e m o d el . We built our technology and product portfolio with a clear vision: there might be seven seas, but there’s only one p l a net a nd we ’ r e a l l
Slide 14: Derived from 15 years of spaceflight robotics at NASA
2000 2001 2004 2008 2010 2011 2013 Ro b o n a u t 1 Hu m a n - li k e H a n d Ro b o n a u t 1 Du a l A r m T e l e o p erat i o n Ro b o n a u t 1 M ob il e M a n i p u l at i o n Ro b o n a u t 2 - C e n ta u r Autonomous M ob il e M a n i p u l at i o n X 1 E x o s ke l et on Spaceflight Co un te
Slide 15: Market Opportunity and Key Investment Highlights
Ma r k e t O pp o r t un i t y Th e b l u e e co n o m y i s c u rre n t l y g o i n g t h r o ug h a r o b o t i c tra n s f o r m at i o n • $2. 5 t r illi o n / y e a r oc ea n e co n o m y (5% of the global GDP) • E s t i m ate d va l u e o f ke y oc ea n a s s et s i s s e v e r a l t r illi o
Slide 16: The global Blue Economy will grow faster than the general economy
16 “The global Blue Economy will grow faster than the general economy, almost doubling by 2030…” “…business - as - usual growth of economic activities in the ocean is not an option for the future” - O .E . C .D . So u r c e : O E C D .
Slide 17: The Blue Economy
The Blue Economy refers to sustainable use of ocean resources in order to fuel economic growth, improve livelihoods, support coastal communities, mitigate climate risks and safeguard the health of the ocean ecosystems. Blue Robotics is the evolving and growing robotic products and services that supp
Slide 18: The Blue Acceleration requires a robotics revolution
THE BLUE ACCELERATION REQUIRES A ROBOTICS REVOLUTION Renewable energy production, aquaculture, telecommunications, data collection services, minerals supply, port management, GHG reduction, and offshore safety are key drivers of opportunity 18 The Blue Acceleration: Global trends in (A) marine aquac
Slide 19: Disruptable target market
19 D e f e n s e Renewables O i l & G a s P o r t S e c u r i t y & Management S ubs e a M i n i n g Offshore D at a C e n ter s & Telecomm Aquaculture O c ea n o g ra ph i c & S c i e n c e M i ss i o n s T o ta l A dd re ss a b l e M arke t S er vi c ea b l e Ob ta i n a b l e M arke t $30B $6B DI
Slide 20: Revolutionary technology years in the making
20 Revolutionary technology 20 years in the making
Slide 21: A supervised autonomy software ecosystem
21 A S U P E R V I S E D A U T O N O M Y S O F T W A R E E C O S Y S T E M Aq ua n a u t f l ee t 3 rd party p a r t n e r s Hydronaut ASV Fleet Olympic Arm & In t e ll i g e n t R O V s X - nau t f l ee t An all - encompassing software suite for subsea sensing & manipulation, supervised autonomous
Slide 22: Aquanaut platform overview
A Q UAN AUT P L AT F O R M O V E R V I E W Aquanaut has an ROV and AUV mode built into one electric platform using the latest in autonomous manipulation and inspection technologies. Two deployable electric work - class manipulators Electric subsea vehicle with 100 kWhr Li - ion battery and 200 km ra
Slide 23: Market segments, target and key client base
Sub s e a D a t a Centers Port Security & Management Sub s e a Mining Su st a in a b le Energy Of f s h ore Cables S m a rt RO VS A u to n o m o u s Shipping & GREEN Shipping Aquaculture GREEN Services x Nauticus & International Port finalizing Aquanaut for port security and general operations x Cle
Slide 24: Leading marine robotics autonomy
LE A D I NG M A R I NE ROBOT I C S A U T ONO M Y Aquanaut without umbilical large vessel can be eliminated Aquanaut with manipulation can execute 80% more work Aquanaut with more power can travel 3X farther Aquanaut & Hydronaut can execute multiday campaigns 24
Slide 25: Immediate opportunity: offshore wind
2 | 12 92 | 70 30 | 92 Active U n d e r Deve l o p m en t W i n d F a r m s Inspection Demands Long - term Growth Needs 5 0 A quanauts 5 0 A quanauts 2020 Offshore Europe : 25GW from 5,310 Turbines 2030 Offshore US Targets : 30 GW from 7500 Turbines 25 IMM E D I A T E O PP O R T U N I T Y O FF S H O
Slide 26: Immediate opportunity: oil & gas
IMM E D I A T E O PP O R T U N I T Y O I L & G A S 26 Wo r l d w i d e O ff s h o r e O & G A ss e t B a s e O ff sh o r e O & G I mm e d i at e nee d : 5 0 Aq u ana u t s Longer term needs: 50 Aquanauts Source: Nauticus Business Plan. Management Estimates. 2.5hrs/tree, 1.5kph/flowline, 4hrs/riser.
Slide 27: Security and defense
S E C U R I T Y A N D DE F E N SE 27 T o p 20 o f t h e m a j o r p o rt s w o rl d w i d e Worldwide Port Applications: 50 Aquanauts Worldwide Defense: 100 Aquanauts or similar subsea platform technologies Source: Nauticus Business Plan. Management Estimates. 800 Major ports worldwide. Worldwide US
Slide 28: Emerging and growth markets
Data Centers Autonomous Shipping Aquaculture Telecommunications Subsea Mining Biotechnology EM E R G I NG A ND G R O WT H M A R K E T S 28
Slide 29: Autonomous shipping progression
A u t o n o m o u s s h i pp i n g p ro g r e ss i o n HYDRONAUT FLEET AND TECHNOLOGY EXTENSIBILITY IN EMERGING MARKETS • Technology packages from Hydronaut like fusion algorithms, perception, GPS, and cameras. Helps predicts behaviors of ot h e r v e ss e l s in t h e v i c i n i t y . • Auton o m
Slide 30: Competitive landscape
W O R K C L A S S RO V S U R V E Y A U V HY B R I D D R O N E A S V W I TH R O V A S V W I TH A Q U A N A U T Tethered Manipulation Non - hovering Survey Hovering Inspection Tethered ASV Solutions 30 C O M P E T I T I V E L A N D S C A P E Representative taxonomy of ocean robotics landscape. Aquanau
Slide 31: Robotics-as-a-service model: key financial metrics
31 ROBOT I C S A S - A - S E R V I C E M O DE L KEY FINANCIAL METRICS $25 - 40k / d a y REVENUE 200 days/year ANNUAL UTILIZATION $5 - 8m m ANNUAL R E V E N U E $3 - 5mm ANNUAL OPERATING INCOME $4 - 7m m CAPEX Source: Nauticus Business Plan. Management Estimates.
Slide 32: RaaS business model causes margins to increase over time
32 RAAS BUSINESS MODEL CAUSES MARGINS TO INCREASE OVER TIME $1 0 $202 $(6 ) $0 $31 $111 $23 1% $95 33% 55% 60% 50% 40% 30% 20% 10% 0% - 1 0 % $ 1 50 $ 1 00 $50 $0 - $50 $ 2 50 $ 2 00 2 0 21 2 0 23 Revenue and EBITDA ($mm) 2022 Revenue ($MM) E B I T D A 2024 EBITDA Margin % $50 $0 $ 1 50 $ 1 00 2 0 2
Slide 33: Transaction structure
TR A N S A C T I O N S TR U C T U R E The transaction is expected to close in Q2 2022 C A P I T A L S T R U CT U R E The transaction will be funded by a combination of $174mm cash held in trust and $73mm 2 in PIPE proceeds through issuance of common shares and convertible notes 1 All - primary trans
Slide 34: Comparable companies
x Comparable broad mega trends on automation – Not direct competitors – Lower growth, established companies Robotics & A u t o m a ti o n D i s r up t i v e Category Creators Re c e n t A l l - Electric A u t o n o m o u s Platforms de - SPACs Re c e n t E n e r g y T r a n s i t i o n & C le a n t
Slide 35: Growth and margin benchmarking
- 10 % 10% 0% 20% 30% 40% 50% 60% 70% 0% 50% 100% 150% 200% 250% 202 4 E B I TD A M a r g i n 2021 - 2024 CAGR - Revenue Re c e n t P u r e - P l a y RaaS de - SPACs Robotics & A u t o ma t i o n D i s r u p t i ve Ca t e g o r y Creators Re c e n t A ll - E l e c t r i c Autonomous Platforms de - S
Slide 36: Valuation benchmarking: EV/EBITDA
Positive 22. 5 x 59. 7 x 0 x N ET / C T R& A DCC AE / AP 12. 2 x Negative 22. 5 x 38. 4 x 28. 5 x N SA R C O S BE RK S H IRE ET / C T R& A DCC AE / AP 2022E 2023E 3. 4 x 33. 0 x Negative 35 .0 x 18. 4 x 29. 9 x 28. 5 x N ET / C T R& A DCC AE / AP 2024E Source: Capital IQ, SEC filings and company dis
Slide 37: Valuation benchmarking: EV/Revenue
V A L U A T I ON B E N C H M A R K I N G : E V / R E V E N U E 16. 1 x 154. 8 x 12. 7 x 45. 6 x 5. 5 x 12. 8 x 19. 9 x N ET/CT R & A DCC AE/AP 4. 0 x 25. 8 x 5. 8 x 13. 4 x 5. 2 x 9. 8 x 5. 2 x N ET/CT R & A DCC AE/AP 2022E 2023E 2024E P r i m a r y R aa S C o m p s Se c o n d a r y C o m ps Source:
Slide 38: Enterprise value sensitivities
EV/2023E EBITDA EV/2024E EBITDA $377 $1 , 509 $905 $915 $1 , 830 $2 , 198 $1099 $2 , 361 $3 , 148 3x - 6x M i d p o i n t Tr a d e - up 264% 20x - 40x Midpoint Tr a d e - up 354% 15x - 20x Midpoint Tr a d e - up 641% 6 x - 10 x Midpoint Tr a d e - up 220% IM P L I E D E N T E R P R IS E V A L U E Tr
Slide 39: Selected public comparable companies
39 S E L E C T E D P UB L I C C O M P A RAB L E C O M P AN I E S ( $ in milli on s , e x c e p t p e r sha r e v alu S h a re % price as of 52 - week Company 11/15/2021 high E qu i t y Value ( $ mm) Ent. Value ( $ mm) Nauticus Robotics $10.00 n/a 561 377 1503.9x 12.2x 3.4x 1.3x 0.7x 16.1x 4.0x 1.9x
Slide 40: Customer testimonial
"Nauticus’ products such as Aquanaut and electric manipulators are viewed within [X] as technological developments ‘ahead of the curve’ of technology availability, breaking new ground in vision and operation. These technologies fully support [X]’ s vision toward full automation, remote control and e
Slide 41: Strategic Advisors
S T R AT E G I C A D V I S O R S DR. MARCIE O’MALLEY Thomas Michael Panos Family Professor in Mechanical Engineering at Rice University DR. MICHAEL GRIFFIN Former Administrator of NASA and former Under Secretary of Defense R&E WOGBE OFORI Former SVP of Worldwide Airports, Inc and Founder of 360 Appr