Since Wilkins was not a U.S. citizen at the time of the expedition, he entered into an agreement with Lake & Danenhower, Inc. to charter the submarine.  On July 15, 1930, Lake & Danenhower, Inc. completed the agreement with the U.S. shipping board, for the use of the 0-12 submarine at a cost of $1 per year for five years, with the provision that the submarine be used for scientific research only. The submarine had been built by the Lake Torpedo Boat Company in 1918 and was due to be scrapped under the terms of the London Naval Treaty.   Simon Lake, naval architect and mechanical engineer, was the original designer of the O-12 which became the Nautilus.   

The Nautilus measured 175 feet long and weighed 560 tons.  It could travel 7000 miles on the surface without refueling. When submerged, it was powered by Exide batteries and could travel 125 miles before resurfacing to recharge the batteries with the diesel engines. It was equipped with 2500 horse power diesel engines and 15-kilowatt hand-starting diesel generating set. The air capacity could supply 20 men for 5 days. The hull could withstand pressure at 200 feet below sea level. It was equipped with a large ice drill, which would enable the crew to cut a hole upward through the ice to fresh air, in order to obtain ventilation and run the engines to recharge the batteries.

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