Terex Announces Equity Investment In Texas-Based Robotics Company Apptronik; Separately, The Companies Plan To Co-Create Potential Robotic Applications For Terex Products

Feb 07, 2023•over 2 years ago

AustinInformation Technology

Investors

Terex Corporation

Description

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.

Company Information

Company

Apptronik

Location

Austin, Texas, United States

About

Apptronik is a human-centered robotics company developing AI-powered humanoid robots. Our goal is to create human helpers to support humanity in every facet of life. Our robot, Apollo, is designed to collaborate thoughtfully with humans—initially in critical industries such as manufacturing and logistics, with future applications in healthcare, the home, and beyond. Apollo is the culmination of nearly a decade of development, drawing on Apptronik’s extensive work on 15 previous robots, including NASA’s Valkyrie robot.

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