Richtech Robotics Signs Distribution Agreement with Sproutmation, LLC, Commercial Robotics and Automation Solutions Delivery Provider
October 08 2024 - 8:30AM
Richtech Robotics Inc. (Nasdaq: RR) (“Richtech Robotics”), a
Nevada-based provider of AI-driven service robots, today announces
it has signed a distribution agreement with Sproutmation, LLC
(“Sproutmation”), a commercial robotics and automation solutions
delivery provider. Sproutmation’s first purchase order is for 20
Scorpion units. Under the arrangement, Sproutmation has agreed to
an annual sales target of 100 robot units.
"We are continuously expanding our ecosystem of
distribution partners and are pleased to announce our agreement
with Sproutmation," said Matt Casella, President of Richtech
Robotics. “Our solutions are synergistic with Sproutmation’s
offerings as the company is focused on robots that provide
automation for clients. This collaboration will allow us to reach
even more organizations across the country.”
“We are impressed with Richtech Robotics’ suite
of solutions, as they provide enhanced customer experiences and
increased efficiencies,” stated Thean Ang, CEO of Sproutmation.
“Providing these robots to our clients will help elevate our
offerings, and we look forward to beginning their deliveries.”
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 Sproutmation
Sproutmation specializes in delivering
commercial robotics and automation solutions, focusing on cleaning,
delivery, and industrial robots. The company’s offerings cater to a
range of sectors, including hospitality and industry, with a
mission to streamline tasks and boost efficiency through
cutting-edge technology. Based in Minnesota, USA, Sproutmation is
dedicated to innovation and enhancing operational productivity with
its robotic systems. For more information, you can
visit www.sproutmation.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. Such forward-looking statements include, but are
not limited to, statements regarding the anticipated success and
benefits of the partnership with Sproutmation.
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 include, among others, risks and
uncertainties related to market and other conditions, Richtech
Robotics’ ability to deliver the requisite number of robot units
under the distribution agreement, and Sproutmation’s ability to
sell the requisite number of robotiunits under the distribution
agreement. Investors should read the risk factors set forth in
Richtech Robotics’ Annual Report on Form 10-K/A, filed with
the SEC on March 27, 2024, the Registration
Statement 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 Robotics to
predict those events or how they may affect Richtech Robotics. 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 Robotics 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 Nov 2024 to Dec 2024
Richtech Robotics (NASDAQ:RR)
Historical Stock Chart
From Dec 2023 to Dec 2024