KONGSBERG and Oceaneering International, Inc. (OCEANEERING) have been selected by the U.S. Department of War’s Defense Innovation Unit (DIU) to support the Combat Autonomous Maritime Platform (CAMP) program. The collaboration focuses on developing an Extra-Large Uncrewed Undersea Vehicle (XLUUV) for future U.S. Navy missions. The CAMP program aims to accelerate the transition of mature commercial and defense technologies into operational naval capabilities.

The partnership will emphasize concept definition, system architecture, and design trade studies, with a focus on modularity, interoperability, and rapid integration. The design is expected to be delivered in the third quarter of this year.

Strategic Collaboration

Rich Patterson, Vice President of Uncrewed Platforms at KONGSBERG, highlighted the significance of the selection. "KONGSBERG is proud to co-lead this effort with OCEANEERING, combining deep domain expertise to support the U.S. Navy’s vision for scalable and adaptable uncrewed undersea platforms," Patterson said. He expressed confidence that the partnership would deliver the world’s leading extra-large autonomous underwater vehicle.

Bill Merz, Senior Vice President of Aerospace and Defense Technologies for OCEANEERING, emphasized the combined strengths of the two companies. "Our experience delivering and sustaining subsea systems globally, combined with KONGSBERG’s advanced undersea technologies, has resulted in a highly capable, world-class team ready to work," Merz stated.

Complementary Expertise

KONGSBERG brings a 200-year legacy of engineering excellence in maritime and undersea systems. OCEANEERING contributes six decades of leadership in subsea robotic services, remote and autonomous missions, and global lifecycle support. Both companies have extensive experience supporting commercial offshore and government programs, which they believe will promote scale and adaptability while reducing technical and operational risk.

The collaboration leverages the complementary capabilities of both firms to meet the U.S. Navy’s requirements for the XLUUV program.

Oceaneering International, Inc. has amended its senior secured revolving credit facility to increase commitments from $215 million to $345 million and extend the maturity date from April 2027 to July 2031. The amendment provides additional financial flexibility to support ongoing operations, strategic priorities, and growth initiatives. The Credit Facility includes the ability to upsize by an additional $85 million and letter of credit availability of $150 million.

Mike Sumruld, Oceaneering’s Senior Vice President and Chief Financial Officer, stated that the company appreciates the continued support of its bank group, which includes both long-standing relationship banks and new participating lenders. The amendment reflects the lender group's confidence in Oceaneering's business strategy and financial position.

Key Details of the Amended Credit Facility

Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries.