LAS VEGAS, Nov. 27, 2006 (PRIME NEWSWIRE) -- InRob Tech Ltd. ("InRob") (OTCBB:IRBL), a leader in the development and production of advanced wireless control systems and integrated solutions for unmanned ground vehicles (UGVs), today announced that it is installing its first advanced remote-controlled heating units in 100 households in collaboration with a new partner, Chromagen, a leading solar heating company with worldwide distribution.
InRob has recently decided to penetrate this market by applying its extensive expertise in military markets to the consumer market. According to a report published by the UN Economic Commission for Europe, 4.1 million robots will be doing jobs in consumer homes by the end of 2007. Well-known experts in the robotics market, including Dan Kara (President of Robotics Trends, www.roboticstrends.com), have predicted that the total global robotics market will reach $25 billion in 2010, and $66 billion in 2025. Based on these statistics, InRob is now targeting the high-growth market of energy conservation in collaboration with Chromagen, a leading manufacturer of solar hot water heaters with distributors in 35 countries in 6 continents. InRob and Chromagen are now beginning beta tests in 100 households.
Following the beta test, InRob will begin mass production of the new hot water heaters early next year, targeting the European energy conservation market. InRob's new product meets the global awareness of the need to conserve non-renewable energy sources, and shift to sustainable energy including solar energy, and places InRob as a forerunner in the field of energy-related robotics applications for the industrial and consumer markets.
The solar energy market is characterized by extremely strong dynamic growth at world level and market volume is expected to reach EUR25 billion by the year 2010. According to www.newsfox.com, the prospects for the future in this market are impressive. In photovoltaics -- i.e. the generation of power from solar energy -- alone, global sales are EUR5.8 billion with a recent annual growth rate of 40%.
"Chromagen has an excellent longstanding reputation and markets to over 35 countries worldwide. The new remote-controlled heaters open up an enormous global market for InRob as supplier of advanced, reliable energy-saving consumer products and are expected to generate significant revenues for the company in a very short time," notes Ben Tsur Joseph, President of InRob.
About Chromagen
Since its foundation in 1962, Chromagen has enjoyed an excellent reputation worldwide. Chromagen manufactures a wide range of solar hot water systems, which are sold in more than 35 countries in 6 continents, complying with a broad range of international standards.
About InRob Tech
InRob Tech is a Nevada-based high-tech company with a wholly-owned subsidiary in Israel, specializing in the planning, manufacturing and service support of advanced wireless and remote control systems, operating all types of robots and other vehicles. The Company is a leader in its field, and supports the IDF (Israeli Defense Forces), Israeli police, and other military and civilian companies dealing with security. Founded in 1988, the Company works closely with other high-tech companies to provide the most advanced and comprehensive UGV solutions to the market.
For more information, please visit our web site at www.inrobtech.com.
Forward-Looking Statements
Certain statements in this news release may contain 'forward-looking' information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.