Red Cat (RCAT) said Wednesday it is launching a new line of unmanned surface vessels, marking the company's official entry into the maritime autonomy market.

The company said it has formed a partnership with an unmanned surface vessel maker for the initiative.

Red Cat is preparing to commence production in Q3 of a seven-meter expeditionary multi-role craft, it said.

The company's shares were up 9.9% in recent premarket activity.