Oceaneering to Team with Collins Aerospace, ILC Dover on NASA’s Next-Generation Spacesuit Program

Rhea-AI Summary

Oceaneering International (NYSE:OII) announces its role in a team led by Collins Aerospace, selected by NASA to develop new extravehicular spacesuits under a contract valued up to $3.5 billion over 12 years. The next-generation suits are designed for missions from 2025 to 2034, enhancing astronaut mobility and comfort for lunar and Mars exploration. Oceaneering will leverage its 40 years of experience with NASA to deliver advanced spacesuit systems.

Positive

• Participation in a significant NASA contract worth up to $3.5 billion over 12 years.
• Enhancements in spacesuit technology aimed at increasing astronaut mobility for upcoming lunar and Mars missions.
• Leveraging 40 years of experience with NASA and established relationships with key partners.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Oceaneering International (“Oceaneering”) (NYSE:OII) announces that Oceaneering Space Systems (“OSS”), a division of the Aerospace and Defense Technologies segment, will serve on a team led by Collins Aerospace (“Collins”), a Raytheon Technologies business selected by the National Aeronautics and Space Administration (“NASA”) to develop next-generation extravehicular spacesuits.

NASA is enlisting commercial partners to develop, build, and maintain new spacesuit technology. The Collins team, which also includes ILC Dover, has decades of experience supplying spacesuits to NASA. Collins is one of two companies that received access to a NASA contract for Extravehicular Activity Services (“xEVAS”) worth up to $3.5 billion over 12 years to supply spacesuits for future missions.

Next-generation spacesuits require new technologies for missions targeted to begin as early as 2025 through 2034. These new suits are expected to allow astronauts to work outside the International Space Station, explore the lunar surface on Artemis missions, and prepare for human missions to Mars. Additionally, the suits are expected to accommodate nearly every astronaut body type, provide added flexibility to allow for increased mission times, and be adaptable to evolving technology enhancements as required.

“These suits will provide a better fit and comfort for the astronauts, increasing their mobility to safely operate on the surface of the moon,” said Carl Walz, former NASA astronaut and longtime Director of Business Development for OSS.

Rod Larson, President and Chief Executive Officer, states, “We are thrilled to work alongside teammates Collins and ILC Dover on this xEVAS contract to deliver the most capable spacesuit systems possible to get NASA astronauts to the moon and beyond. This award builds upon Oceaneering’s longstanding relationships with Collins, ILC Dover and NASA and its experience in prior spacesuit programs. Oceaneering has proudly enabled successful space missions for NASA alongside our industry partners for over 40 years, delivering thousands of products and mission support for the Space Shuttle, the International Space Station, and its international partners’ extravehicular activity.”

This release contains “forward-looking statements,” as defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, statements as to the expectations, beliefs, future expected business and financial performance and prospects of Oceaneering. More specifically, the forward-looking statements in this press release include the statements concerning product delivery expectations and the timing thereof. The forward-looking statements included in this release are based on Oceaneering’s current expectations and are subject to certain risks, assumptions, trends and uncertainties that could cause actual results to differ materially from those indicated by the forward-looking statements. These include, among other factors, risks and uncertainties related to counterparty performance under contracts and market conditions and other economic factors affecting Oceaneering’s business. For a more complete discussion of these and other risk factors, please see Oceaneering’s latest annual report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements. Except to the extent required by applicable law, Oceaneering undertakes no obligation to update or revise any forward-looking statement.

About Oceaneering Space Systems

Oceaneering Space Systems is a leader in specialized engineering for harsh environments from sea to space. We complete turnkey design, development, manufacturing, certification, maintenance, testing and sustaining engineering for space-based robotics and automation, satellite servicing tools and equipment, human space flight systems and thermal protection systems. Our diverse engineering experience and precision manufacturing capabilities enable us to deliver product quality and mission assurance while maintaining an uncompromised focus on safety.

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

For more information on Oceaneering, please visit www.oceaneering.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220609005318/en/

Mark Peterson

Vice President, Corporate Development and Investor Relations

Oceaneering International, Inc.

713-329-4507

investorrelations@oceaneering.com

Source: Oceaneering International, Inc.

FAQ

What is the value of the NASA spacesuit contract awarded to Oceaneering International (OII)?

The contract is valued at up to $3.5 billion over 12 years.

What are the goals of the new spacesuits being developed by Oceaneering (OII)?

The new spacesuits aim to enhance astronaut mobility and comfort for missions targeted from 2025 to 2034.

Who is leading the team that includes Oceaneering (OII) for the NASA spacesuit contract?

The team is led by Collins Aerospace.

When are the first missions utilizing the new spacesuits expected to launch?

Missions are targeted to begin as early as 2025.

What types of missions will the new spacesuits support?

The suits will support lunar exploration and prepare for human missions to Mars.