NORWALK,
Conn., Feb. 7, 2023 /PRNewswire/ -- Terex
Corporation (NYSE: TEX) today announced it has made an equity
investment in Apptronik, Inc. ("Apptronik"), an Austin-based company specializing in the
development of versatile, mobile robotic systems whose goal is to
bring forth the next generation of robots that will change the way
we live and work. Separate from the equity investment, the two
companies have entered into a co-development agreement to work
together to create potential robotic applications for Terex
products.
"Multiple trends are converging to drive adoption of
human-centered robots in everyday applications and Apptronik is
well positioned to capitalize on this emerging trend," said Terex
Chairman and Chief Executive Officer John
L. Garrison, Jr.
Apptronik's co-founders have worked on some of the most advanced
human-centered systems in the world. This includes the NASA
Valkyrie Robot for the DARPA Robotics Challenge. Other Apptronik
projects include Astra, an upper-body humanoid robot that has
state-of-the-art actuation packed into a small form, enabling it to
be placed on any mobility platform – and, most recently, Apollo, a
NASA-backed versatile humanoid designed to scale and apply to
numerous applications.
"We are at an inflection point in the robotics industry where,
in just a few years, we expect to see general-purpose robots being
adopted at scale across numerous industries," said Jeff Cardenas, Chief Executive Officer and
co-founder of Apptronik. "We are excited to be working with Terex
Corporation, as we blaze the trail for the robotics revolution that
we anticipate will transform the way we live and work."
Forward-Looking Statements
Certain information in this
press release includes forward-looking statements (within the
meaning of Section 27A of the Securities Act of 1933, Section 21E
of the Securities Exchange Act of 1934 (the "Exchange Act") and the
Private Securities Litigation Reform Act of 1995) regarding future
events or our future financial performance that involve certain
contingencies and uncertainties, including those discussed in our
Annual Report on Form 10-K for the year ended December 31,
2022, and subsequent reports we file with the U.S. Securities and
Exchange Commission from time to time, in the sections entitled
"Management's Discussion and Analysis of Financial Condition and
Results of Operations – Contingencies and Uncertainties." In
addition, when included in this press release or in documents
incorporated herein by reference, the words "may," "expects,"
"should," "intends," "anticipates," "believes," "plans,"
"projects," "estimates," "will" and the negatives thereof and
analogous or similar expressions are intended to identify
forward-looking statements. However, the absence of these words
does not mean that the statement is not forward-looking. We have
based these forward-looking statements on current expectations and
projections about future events. These statements are not
guarantees of future performance. Such statements are inherently
subject to a variety of risks and uncertainties that could cause
actual results to differ materially from those reflected in such
forward-looking statements.
Actual events or our actual future results may differ materially
from any forward-looking statement due to these and other risks,
uncertainties and material factors. The forward-looking statements
contained herein speak only as of the date of this press release
and the forward-looking statements contained in documents
incorporated herein by reference speak only as of the date of the
respective documents. We expressly disclaim any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statement contained or incorporated by reference in
this press release to reflect any change in our expectations with
regard thereto or any change in events, conditions or circumstances
on which any such statement is based.
About Terex
Terex Corporation is a global manufacturer
of materials processing machinery and aerial work platforms. We
design, build and support products used in construction,
maintenance, manufacturing, energy, recycling, minerals and
materials management applications. Certain Terex products and
solutions enable customers to reduce their impact on the
environment including electric and hybrid offerings that deliver
quiet and emission-free performance, products that support
renewable energy, and products that aid in the recovery of useful
materials from various types of waste. Our products are
manufactured in North America,
Europe, Australia and Asia and sold worldwide. We engage with
customers through all stages of the product life cycle, from
initial specification and financing to parts and service
support.
About Apptronik
Apptronik is a robotics company that
has built a platform to deliver a variety of general-purpose
robots. The company was founded in 2016 out of the Human Centered
Robotics Lab at the University of Texas at
Austin, with a mission to leverage innovative technology for
the betterment of society. Its goal is to introduce the next
generation of robots that will change the way people live and work,
while tackling some of our world's largest challenges. To learn
more about careers at Apptronik, visit
https://apptronik.com/careers/.
Contact Information
Terex
Corporation
William Adler
203-767-8001
william.adler@terex.com
Apptronik
Samantha
Stone
617-365-5829
samanthastone@meetkickstand.com
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SOURCE Terex Corporation