Ekso Bionics® Secures Purchase Orders for the EksoVest™ from Two Global Aerospace Manufacturers
December 10 2018 - 8:00AM
Aerospace Industry Leaders Piloting Wearable
Exoskeleton to Enhance Worker Safety, and Reduce Fatigue and Risk
of Injury on Assembly Production Lines of Commercial and Defense
Airplanes
Ekso Bionics Holdings, Inc. (NASDAQ: EKSO), an industry leader in
exoskeleton technology for medical and industrial use, today
announced that it has secured purchase orders for the EksoVest™
from two global aerospace manufacturers to create and expand pilot
programs, respectively. The assistive devices will be piloted by
workers on the assembly production lines of commercial and defense
airplanes to enhance safety, reduce fatigue and risk of injury.
In the U.S. alone, more than $21 billion is
spent per year on workplace-related injuries, which negatively
impacts productivity. Use of an assistive device can be an
effective approach to reduce the physical demands involved in
overhead work, while increasing endurance and productivity. These
pilot programs will explore several applications where roughly 50
EksoVests can assist workers with heavy tools and repetitive
overhead tasks in the airplane manufacturing process.
“The benefits of the EksoVest in manufacturing
have already been seen in the automotive industry by global leaders
like Ford, and integration is underway on many assembly lines
globally,” said Jack Peurach, president and chief executive officer
of Ekso Bionics. “The aerospace industry has similar challenges and
demands with overhead work and we are confident that the EksoVest
will prove to be a solution that enhances both the well-being for
its workforce and productivity.”
The EksoVest is a wearable upper body
exoskeleton technology that is designed to support a worker’s arms
while performing overhead tasks. By providing lift assistance from
five to 15 pounds per arm, the EksoVest reduces the strain and
fatigue on workers, lowering their overall risk of injury. In
addition, workers are able to complete tasks in a shorter amount of
time while maintaining or improving the level of quality.
Specific and financial details of the purchase
orders were not disclosed.
About Ekso Bionics® Ekso
Bionics® is a leading developer of exoskeleton solutions that
amplify human potential by supporting or enhancing strength,
endurance and mobility across medical and industrial applications.
Founded in 2005, the company continues to build upon its
unparalleled expertise to design some of the most cutting-edge,
innovative wearable robots available on the market. Ekso Bionics is
the only exoskeleton company to offer technologies that range from
helping those with paralysis to stand up and walk, to enhancing
human capabilities on job sites across the globe. The company is
headquartered in the Bay Area and is listed on the Nasdaq Capital
Market under the symbol EKSO. For more information,
visit: www.eksobionics.com.
Forward-Looking StatementsAny
statements contained in this press release that do not describe
historical facts may constitute forward-looking statements.
Forward-looking statements may include, without limitation,
statements regarding (i) the plans and objectives of management for
future operations, including plans or objectives relating to the
design, development and commercialization of human exoskeletons,
(ii) estimates or projection of financial results, financial
condition, capital expenditures, capital structure or other
financial items, (iii) the Company's future financial performance
and (iv) the assumptions underlying or relating to any statement
described in points (i), (ii) or (iii) above. Such forward-looking
statements are not meant to predict or guarantee actual results,
performance, events or circumstances and may not be realized
because they are based upon the Company's current projections,
plans, objectives, beliefs, expectations, estimates and assumptions
and are subject to a number of risks and uncertainties and other
influences, many of which the Company has no control over. Actual
results and the timing of certain events and circumstances may
differ materially from those described by the forward-looking
statements as a result of these risks and uncertainties. Factors
that may influence or contribute to the inaccuracy of the
forward-looking statements or cause actual results to differ
materially from expected or desired results may include, without
limitation, changes resulting from the Company’s finalization of
its financial statements for and as of the period and year ended
December 31, 2017, information or new changes in facts or
circumstances that may occur prior to the filing of the Company’s
Annual Report on Form 10-K that are required to be included
therein, the Company's inability to obtain adequate financing to
fund the Company's operations and necessary to develop or enhance
our technology, the significant length of time and resources
associated with the development of the Company's products, the
Company's failure to achieve broad market acceptance of the
Company's products, the failure of our sales and marketing
organization or partners to market our products effectively,
adverse results in future clinical studies of the Company's medical
device products, the failure to obtain or maintain patent
protection for the Company's technology, failure to obtain or
maintain regulatory approval to market the Company's medical
devices, lack of product diversification, existing or increased
competition, and the Company's failure to implement the Company's
business plans or strategies. These and other factors are
identified and described in more detail in the Company's filings
with the SEC. To learn more about Ekso Bionics please visit us at
www.eksobionics.com. The Company does not undertake to update these
forward-looking statements.
Media Contact:Glenn
Silver646-871-8485eksobionics@lazarpartners.com
Investor Contact:David
Carey212-867-1768investors@eksobionics.com
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