Richtech Robotics Announces ADAM Installation at One Kitchen in Rockford, IL Walmart, Marking First Humanoid Drink Robot in the State
August 20 2024 - 8:30AM
Richtech Robotics Inc. (Nasdaq: RR) (“Richtech Robotics”), a
Nevada-based provider of AI-driven service robots, announces the
installation of its advanced robotic beverage system, ADAM, at a
One Kitchen in a Rockford, IL Walmart. This milestone marks the
second installation as part of a planned rollout across 240 One
Kitchen locations in the U.S. One Kitchen restaurants feature
multiple national and local brands using a single kitchen. The
Rockford Walmart will also have a Richtech Robotics’ Matradee L and
DUST-E S installed.
The installation is also part of Richtech
Robotics’ new commercial management venture, AlphaMax Management,
LLC (“AlphaMax Management”), which was formed to optimize the
integration of the Company’s robots into clients’ businesses. As a
wholly-owned subsidiary of Richtech Robotics, AlphaMax Management
will be responsible for the entire commercial workflow of One
Kitchen restaurants within Walmart, to better integrate the
operation of robots with traditional restaurant operations, and to
provide overall restaurant data analysis, digital marketing, and
the integration of artificial intelligence applications.
“We continue to reach new milestones, this time
celebrating the first humanoid drink robot in the state of Illinois
and also officially launching AlphaMax Management,” said Matt
Casella, President at Richtech Robotics. “Our new subsidiary is
expected to generate a new revenue stream and also stable cash flow
and profit. We look forward to its continued growth.”
Equipped with cutting-edge AI technology, ADAM
commenced operations at the Rockford One Kitchen on August 16th,
2024, serving a variety of coffee and boba drinks to customers. The
robot is expected to serve 100-200 cups of coffee and tea per
day.
Richtech Robotics will handle the programming,
maintenance, and repair of the ADAM systems, while One Kitchen will
manage staff, location logistics, and leasing. ADAM will operate
through a fully integrated touchscreen point-of-sale system for
ordering and payments, offering customized beverages on demand and
engaging customers with its intelligent conversation AI.
About Richtech Robotics
Richtech Robotics is a provider of collaborative
robotic solutions specializing in the service industry, including
the hospitality and healthcare sectors. Our mission is to transform
the service industry through collaborative robotic solutions that
enhance the customer experience and empower businesses to achieve
more. By seamlessly integrating cutting-edge automation, we aspire
to create a landscape of enhanced interactions, efficiency, and
innovation, propelling organizations toward unparalleled levels of
excellence and satisfaction. Learn more at www.RichtechRobotics.com
and connect with us on X (Twitter), LinkedIn, and YouTube.
About Ghost Kitchens International (GKI)
With restaurants across Canada and the US, GKI
is expanding to open 240 more restaurants under the ONE KTICHEN
banner in USA and Canada. Each restaurant features multiple
national brands made to order, a single operator, innovative front
and back-of-house technology, and walk-in and delivery customers.
For more information go to www.ghostkitchenbrands.com.
Forward Looking Statements
Certain statements in this press release are
forward-looking within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements may be identified
by the use of forward-looking words such as “anticipate,”
“believe,” “forecast,” “estimate,” “expect,” and “intend,” among
others. Forward-looking statements are predictions, projections and
other statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties.
These forward-looking statements are based on
Richtech Robotics’ current expectations and actual results could
differ materially. There are a number of factors that could cause
actual events to differ materially from those indicated by such
forward-looking statements. These factors include, but are not
limited to, risks related to the number of One Kitchen locations
that will ultimately install and integrate ADAM, risks related to
the annual revenue actually generated by each One Kitchen location,
and risks related to the number of cups of coffee and tea actually
served by each robot per day. Investors should read the risk
factors set forth in Richtech Robotics’ Annual Report on Form
10-K/A, filed with the Securities and Exchange Commission (the
“SEC”) on March 27, 2024, and periodic reports filed with the SEC
on or after the date thereof. All of Richtech Robotics’
forward-looking statements are expressly qualified by all such risk
factors and other cautionary statements. The information set forth
herein speaks only as of the date thereof. New risks and
uncertainties arise over time, and it is not possible for Richtech
Robotic to predict those events or how they may affect Richtech
Robotic. If a change to the events and circumstances reflected in
Richtech Robotics’ forward-looking statements occurs, Richtech
Robotics’ business, financial condition and operating results may
vary materially from those expressed in Richtech Robotics’
forward-looking statements.
Readers are cautioned not to put undue reliance
on forward-looking statements, and Richtech Robotic assumes no
obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events or otherwise.
Contact:
Investors:CORE IRMatt Blazeiir@richtechrobotics.com
Media: Timothy TanksleyDirector of MarketingRichtech
Robotics, Incpress@richtechrobotics.com702-534-0050
Richtech Robotics (NASDAQ:RR)
Historical Stock Chart
From Sep 2024 to Oct 2024
Richtech Robotics (NASDAQ:RR)
Historical Stock Chart
From Oct 2023 to Oct 2024