RENO, NV--(Marketwired - Nov 7, 2017) - On the Move Systems (
"RAD is the perfect partner to help us increase safety, enhance productivity and control access to our facility," said Michael Patterson, Romeo, CEO and co-founder. "In addition, our partnership allows us to gather data from the artificial intelligence market, which we know will play an ever growing role in our business."
Romeo is the exclusive battery pack technology partner to RAD. Romeo lithium-ion battery packs power RAD's fleet of security guard robots, providing 12 hours of continuous operation regardless of terrain or climate. Additionally, these advanced battery packs enable RAD robotics to experience four continuous years of use without replacement.
Romeo, founded by engineers and designers from SpaceX, Tesla, Samsung, Apple and Amazon, is an energy storage technology company leading the charge in battery pack innovation, safety and reliability for vehicles and stationary storage.
"We are pleased to deploy the first robot at Romeo Power Technology -- part of our robot-as- a-service delivery model that differentiates us from other robotic and artificial intelligence providers," said Steve Reinharz, President, RAD. "As we move toward exceeding our 2017 delivery targets, we continue to experience significant and growing market interest on our solutions, which are designed to augment existing security teams."
The Security Guard robots, which are optimized with RAD's customized services and solutions, deliver a cost-effective solution to augment traditional manned guard services. The robots serve as force multipliers and remove security personnel from potentially dangerous situations, reducing liability. The combination of human personnel with robotic technologies creates a strong value proposition that results in new levels of security and streamlined operations.
RAD has commenced to deploy robots to end users. To date RAD has commitments for 62 robots for total contract values of approximately $6 million.
RAD currently has signed agreements for 2 POC's with major companies.
RAD currently has a sales pipeline of over 50 Fortune 500 companies and over 25 qualified dealers and distributors that have a combined customer base of more than 35,000 end user corporations.
The company may post important information about its subsidiary RAD on its website at www.RoboticAssistanceDevices.com and through tweets from RAD President and CEO Steve Reinharz (https://twitter.com/SteveReinharz)
About Romeo Power
Romeo Power makes the most powerful and energy-dense battery packs in the world. Top engineers and designers from SpaceX, Tesla, Samsung, Apple, and Amazon, started Romeo Power in 2015 with the belief that safe and reliable energy is crucial to the advancement of human health and economic development. Today, the energy storage technology company leads the charge in battery pack innovation, safety and reliability for vehicles and stationary storage. For more information go to https://romeopower.com.
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of On the Move Systems to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. On the Move Systems undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in On the Move Systems expectations.
Everest Corporate Advisors Inc.