SALT LAKE CITY--(BUSINESS WIRE)--Sarcos Robotics (“Sarcos”), a leader in the development of robotic systems that augment humans to enhance productivity and safety, today announced it has successfully completed its first product demonstrations of real-world use cases in the field using the company’s Guardian® XT™ highly dexterous mobile robotic system—a significant milestone on the path to product commercialization, which is expected by the end of 2022. These field demonstrations were conducted both in the Pacific Northwest and in Southern regions of the United States.
The Guardian XT industrial robotic avatar system—the upper-body variant of the award-winning Sarcos Guardian® XO® full-body, battery-powered industrial exoskeleton—was recently used to conduct live field demonstrations for a leading electric utility construction services company. During this scenario, Sarcos and the customer used the robotic system to successfully conduct at-height tree trimming operations around active powerlines to showcase its ability to reduce occurrences of powerline-related fatalities and injuries. Separately, the company completed a field demonstration with a multi-national, sustainable materials science company. In this instance, the Guardian XT robotic system was used to conduct nondestructive testing (NDT) and inspections of at-height, in-process pipes at a chemical plant with the goal of improving inspection efficiency while reducing potentially life-altering injuries and events associated with at-height work. A third field demonstration was successfully completed with a multi-national oil and gas industry company with a focus on field construction activities.
The Guardian XT industrial robotic avatar system is designed to perform intricate and dangerous tasks requiring human-like dexterity, while eliminating the need for humans to conduct at-height work and removing them from harm’s way. It is platform-agnostic and can be mounted to a variety of mobile bases to access hard-to-reach or elevated areas and has applications in a number of industries, including aerospace, automotive, aviation, construction, defense, industrial manufacturing, maritime, and oil and gas.
“These first successful product demonstrations to potential customers utilizing the Guardian XT industrial robotic avatar system in the field are a major achievement for Sarcos as we prepare for commercialization by the end of next year,” said Ben Wolff, Chairman and Chief Executive Officer of Sarcos. “We look forward to continuing the dialogue with these initial partners and obtaining their feedback in order to deliver best-in-class robotics solutions that increase productivity while eliminating the need for their employees to operate in dangerous environments.”
In parallel with these first product demonstrations, Sarcos is also advancing its recently announced SenSuit™ wearable robot controller, which will be used for enhanced teleoperation of the Guardian XT robotic system. The robot will integrate the SenSuit wearable controller and a high definition, virtual reality (VR) or augmented reality (AR)-based head-mounted display (HMD) in order to deliver intuitive control of the system and enable the use of standard trade tools.
On April 6, 2021, Sarcos announced that it will become publicly listed through a merger transaction with Rotor Acquisition Corp. (NYSE: ROT.U, ROT, and ROT WS) (“Rotor”), a publicly-traded special purpose acquisition company. The transaction is expected to close in the third quarter of 2021, at which point the combined company’s common stock is expected to trade on Nasdaq under the ticker symbol STRC.
For more information on Sarcos, the Guardian XT robot and its award-winning product portfolio, please visit www.sarcos.com.
About Sarcos Robotics
Sarcos Robotics is a leader in industrial robotic systems that augment human performance by combining human intelligence, instinct, and judgment with the strength, endurance, and precision of machines to enhance employee safety and productivity. Leveraging more than 30 years of research and development, Sarcos’ mobile robotic systems, including the Guardian® S, Guardian® GT, Guardian® XO®, and Guardian® XT™, are designed to revolutionize the future of work wherever physically demanding work is done. Sarcos is based in Salt Lake City, Utah, and backed by Caterpillar Venture Capital Inc., Delta Air Lines, GE Ventures, Microsoft, and Schlumberger. For more information, please visit www.sarcos.com and the Sarcos investor relations website.
About Rotor Acquisition Corp.
With approximately 100 years of combined experience in investing and managing capital across markets and industries, structuring transactions, and building businesses and led by Chief Executive Officer Brian Finn, Chairman of the Board Stefan M. Selig, and Director John D. Howard, Rotor Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with potential target companies with certain industry and business characteristics within the areas of disruptive consumer and industrial technologies. For more information, please visit www.rotoracquisition.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, Sarcos’ product roadmap, including the expected timing of commercialization or new product releases, Sarcos’ plans to expand its product availability, Sarcos’ use of capital following the transaction, including Sarcos’ ability to accomplish the initiatives outlined above, and the expected timing of the closing of the transaction. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “intends” or “continue” or similar expressions. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These forward-looking statements are based on Sarcos’ management’s current expectations and beliefs, as well as a number of assumptions concerning future events. However, there can be no assurance that the events, results, or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and Sarcos is not under any obligation and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports, which Rotor has filed or will file from time to time with the SEC. In addition to factors previously disclosed in Rotor’s reports filed with the SEC and those identified in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: risks and uncertainties related to the inability of the parties to successfully or timely consummate the potential business combination, including the risk that any required regulatory approvals or stockholder approvals of Rotor are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed business combination; failure to realize the anticipated benefits of the potential business combination; Sarcos’ ability to execute on its business strategy, address supply chain disruptions, launch its products within expected timelines, develop new products and services and enhance existing products and services; ability to respond rapidly to emerging technology trends; ability to compete effectively, recruit and retain qualified personnel and manage growth and costs; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Rotor’s definitive proxy statement filed with the SEC on August 6, 2021 and other documents of Rotor filed, or to be filed, with SEC.
This communication is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Rotor and is not intended to form the basis of an investment decision in Rotor. All subsequent written and oral forward-looking statements concerning Rotor and Sarcos, the proposed business combination, or other matters and attributable to Rotor and Sarcos or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.
No Offer or Solicitation
This press release does not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed transaction. This press release also does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor will there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
Rotor, Sarcos and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Rotor, in favor of the approval of the merger. Information regarding Rotor’s directors and executive officers is contained in the section of Rotor’s Form S-1 titled “Management,” which was filed with the SEC on December 18, 2020. Additional information regarding the interests of those participants and other persons who may be deemed participants in the transaction may be obtained by reading the proxy statement and other relevant documents filed with the SEC when they become available. The documents filed by Rotor with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov. Alternatively, these documents, when available, can be obtained free of charge from Rotor upon written request to Rotor Acquisition Corp., The Chrysler Building, 405 Lexington Avenue, New York, New York 10174.
