Ekso Bionics Announces EGM Builders as First Customer to Adopt EVO Technology

Rhea-AI Summary

Ekso Bionics (Nasdaq: EKSO) has launched its innovative EVO exoskeleton, aimed at reducing fatigue-related injuries among industrial workers. EGM Builders is the first customer to adopt this technology, which offers lift assistance to alleviate physical strain during overhead tasks. The EVO device enhances worker safety and productivity, aligning with EGM Builders' commitment to employee well-being. Despite the promising features, the company faces potential risks, including market acceptance and competition, as indicated in their forward-looking statements.

Positive

• EVO exoskeleton launched to reduce fatigue-related injuries.
• First customer, EGM Builders, demonstrates early adoption of EVO.
• EVO provides 5 to 15 pounds of lift assistance to alleviate worker strain.

Negative

• Potential risks in achieving broad market acceptance of EVO.
• Competition in the exoskeleton market could affect future sales.
• Forward-looking statements suggest uncertainty in product performance and market challenges.

A cutting-edge endurance-boosting assistive device, EVO is designed to reduce the risk of repetitive or fatigue-related injuries for construction workers and other industrial employees

RICHMOND, Calif., Oct. 29, 2020 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (the “Company”), an industry leader in exoskeleton technology for medical and industrial use, today announced that EGM Builders, a self-performing general contractor providing construction services in New Jersey and New York, is the first customer to acquire EVO™ units. Launched in August 2020, EVO is the Company’s latest innovation in exoskeleton technology for industrial use.

“Physical fatigue can have significant and negative impacts on employees and companies, as it leads to injuries that can have long-term consequences for individuals and reduce productivity,” said Michael Pratt, Vice President at Ekso Bionics. “As a company focused on protecting and enhancing human strength, endurance and mobility, innovating technologies, such as EVO, that reduce fatigue for industrial workers is a priority. With its early adoption of EVO, EGM Builders is demonstrating its own commitment to protecting the well-being of its valued employees.”

EVO, the next generation of Ekso’s upper-body exoskeleton for industrial use, is the world’s most durable, assistive, and naturally-tracking vest of its kind. EVO includes additional technology, based on market feedback, to aid workers with overhead work, reduce fatigue, and lower the risk of shoulder and back muscle strain. EVO offers 5 to 15 pounds of lift assistance in each arm to elevate and alleviate the day-to-day strain on workers across all industries.

“Commercial construction is physically demanding work and maintaining employee physical health is of our utmost importance,” said Michael Espinosa, President & CEO, Partner at EGM Builders. “We are committed to protecting the safety and health of our employees, who are our most valuable asset and critical resource. EVO’s unique technology will allow our dedicated team members to stay safe and comfortable while performing the industry-leading work for which EGM Builders is known. Reducing the risk of workplace injuries is essential for ensuring that we can attract and retain the best industrial construction workers in the region while sustaining the morale that brings out our employees’ dedication to excellence.”

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 industry-leading 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 San Francisco Bay Area and is listed on the Nasdaq Capital Market under the symbol “EKSO.” For more information, visit: www.eksobionics.com or follow @EksoBionics on Twitter.

Forward-Looking Statements
Any 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 the potential benefits, performance and effectiveness of the Company’s products and systems, including EVO. 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, the Company’s inability to obtain adequate financing or maintain operating revenues (including as a result of the COVID-19 pandemic) to fund the Company’s operations and necessary to develop or enhance the Company’s 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 the Company’s sales and marketing efforts or of partners to market the Company’s 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, the failure of the Company to obtain or maintain regulatory approval to market the Company’s medical devices, disruptions in the Company’s supply chain due to the outbreak of the COVID-19 virus and other delays that may result from the COVID-19 pandemic, the Company’s 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 U.S. Securities and Exchange Commission. To learn more about Ekso Bionics please visit the Company’s website at www.eksobionics.com or follow @EksoBionics on Twitter. The Company does not undertake to update these forward-looking statements.

Investor Contact:
David Carey
212-867-1768
investors@eksobionics.com

FAQ

What is the EVO exoskeleton from Ekso Bionics?

The EVO exoskeleton is a device designed to reduce fatigue and risk of injury for industrial workers by providing lift assistance of 5 to 15 pounds per arm.

Who is the first customer to purchase EVO exoskeleton units?

EGM Builders is the first customer to adopt the EVO exoskeleton.

When was the EVO exoskeleton launched?

The EVO exoskeleton was launched in August 2020.

What are the benefits of the EVO exoskeleton for workers?

The EVO exoskeleton helps reduce physical strain, lower the risk of shoulder and back muscle strain, and increase overall productivity.

What are the risks mentioned in the press release regarding Ekso Bionics?

The risks include potential challenges in market acceptance, competition, and uncertainties surrounding the effectiveness of EVO and its market performance.